Tudor Investment Corp ET AL Sells 154,563 Shares of Independence Realty Trust, Inc. $IRT

Tudor Investment Corp ET AL lessened its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 88.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,471 shares of the real estate investment trust’s stock after selling 154,563 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Independence Realty Trust were worth $336,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Swiss Life Asset Management Ltd acquired a new position in Independence Realty Trust in the 3rd quarter worth about $182,000. CIBC Private Wealth Group LLC boosted its position in shares of Independence Realty Trust by 41.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 16,405 shares of the real estate investment trust’s stock valued at $269,000 after purchasing an additional 4,815 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Independence Realty Trust during the 3rd quarter worth approximately $411,000. Sunbelt Securities Inc. boosted its stake in Independence Realty Trust by 37.5% during the 3rd quarter. Sunbelt Securities Inc. now owns 4,270 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 1,165 shares during the last quarter. Finally, Danske Bank A S bought a new stake in Independence Realty Trust during the 3rd quarter worth approximately $26,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Shares of NYSE IRT opened at $14.87 on Thursday. Independence Realty Trust, Inc. has a 1-year low of $14.63 and a 1-year high of $21.56. The business’s 50 day moving average is $16.19 and its two-hundred day moving average is $16.54. The stock has a market capitalization of $3.50 billion, a P/E ratio of 61.94, a PEG ratio of 1.66 and a beta of 0.99.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Independence Realty Trust had a return on equity of 1.58% and a net margin of 8.60%.The firm had revenue of $167.13 million during the quarter, compared to analysts’ expectations of $170.26 million. During the same quarter in the previous year, the business earned $0.32 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 27th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Friday, March 27th. Independence Realty Trust’s dividend payout ratio is currently 283.33%.

Analyst Upgrades and Downgrades

IRT has been the topic of a number of recent analyst reports. Barclays lowered their target price on Independence Realty Trust from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, March 6th. Wall Street Zen cut Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Sunday, February 22nd. UBS Group upped their price objective on shares of Independence Realty Trust from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Citigroup restated an “outperform” rating on shares of Independence Realty Trust in a research note on Friday, January 9th. Finally, KeyCorp reduced their price objective on Independence Realty Trust from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, December 4th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Independence Realty Trust currently has an average rating of “Moderate Buy” and a consensus price target of $20.61.

Independence Realty Trust Profile

Independence Realty Trust is a self-administered equity real estate investment trust that acquires, redevelops and manages multi-family communities. The company focuses on workforce housing, targeting Class A and B garden-style apartments in suburban and urban infill locations. Its core activities include sourcing value-add acquisitions, overseeing property renovations and delivering in-house property management services to optimize rental income and occupancy levels.

Headquartered in Wayne, Pennsylvania, Independence Realty Trust maintains a geographically diverse portfolio across several high-growth U.S.