Prosperitas Financial LLC Sells 4,405 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Prosperitas Financial LLC lowered its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 6.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 66,705 shares of the real estate investment trust’s stock after selling 4,405 shares during the period. Prosperitas Financial LLC’s holdings in Independence Realty Trust were worth $1,021,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of IRT. Farther Finance Advisors LLC grew its position in shares of Independence Realty Trust by 157.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,553 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 950 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Independence Realty Trust during the 4th quarter valued at about $31,000. Hibernia Wealth Partners LLC bought a new stake in shares of Independence Realty Trust during the 3rd quarter valued at about $33,000. Fifth Third Bancorp boosted its position in shares of Independence Realty Trust by 83.9% during the 4th quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 1,183 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Independence Realty Trust by 176.2% during the 2nd quarter. IFP Advisors Inc now owns 3,000 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 1,914 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Down 1.3 %

Shares of IRT stock traded down $0.20 during trading hours on Tuesday, reaching $15.66. The company had a trading volume of 408,699 shares, compared to its average volume of 2,232,400. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $18.77. The business has a fifty day simple moving average of $15.52 and a 200-day simple moving average of $14.68.

Independence Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, March 29th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.09%. Independence Realty Trust’s dividend payout ratio is presently -914.16%.

Wall Street Analysts Forecast Growth

IRT has been the topic of several research analyst reports. Barclays cut their target price on Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 20th. Royal Bank of Canada upped their target price on Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Deutsche Bank Aktiengesellschaft assumed coverage on Independence Realty Trust in a report on Tuesday, January 30th. They issued a “buy” rating and a $18.00 price target on the stock. TheStreet lowered Independence Realty Trust from a “c” rating to a “d+” rating in a report on Friday, March 1st. Finally, JMP Securities increased their price target on Independence Realty Trust from $15.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Independence Realty Trust currently has an average rating of “Hold” and a consensus target price of $17.00.

About Independence Realty Trust

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL.