Cetera Investment Advisers Has $5.36 Million Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Cetera Investment Advisers cut its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 12.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 270,287 shares of the real estate investment trust’s stock after selling 39,074 shares during the period. Cetera Investment Advisers owned about 0.12% of Independence Realty Trust worth $5,362,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Global Retirement Partners LLC raised its holdings in shares of Independence Realty Trust by 66.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 521 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Independence Realty Trust by 627.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 2,008 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Independence Realty Trust by 67.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 1,000 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Independence Realty Trust by 33.9% in the 4th quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 692 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of Independence Realty Trust in the 4th quarter worth approximately $70,000. 88.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Independence Realty Trust

In other news, CEO Scott Schaeffer sold 10,000 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $21.21, for a total value of $212,100.00. Following the transaction, the chief executive officer now directly owns 873,365 shares in the company, valued at $18,524,071.65. This trade represents a 1.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 11,000 shares of company stock worth $232,245 in the last three months. Insiders own 0.58% of the company’s stock.

Independence Realty Trust Stock Performance

Shares of IRT opened at $18.91 on Wednesday. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 105.06, a PEG ratio of 2.91 and a beta of 0.98. The business’s fifty day moving average price is $19.78 and its two-hundred day moving average price is $20.12. Independence Realty Trust, Inc. has a 52 week low of $15.66 and a 52 week high of $22.26.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The firm had revenue of $160.91 million during the quarter, compared to the consensus estimate of $164.08 million. Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.11%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 earnings per share. As a group, research analysts forecast that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Friday, March 28th were given a $0.16 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.64 annualized dividend and a dividend yield of 3.38%. Independence Realty Trust’s dividend payout ratio is currently 457.14%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Compass Point restated a “neutral” rating and set a $22.00 price target on shares of Independence Realty Trust in a research report on Tuesday. JMP Securities restated a “market outperform” rating and set a $25.00 price target on shares of Independence Realty Trust in a research report on Monday, May 5th. Barclays increased their price target on Independence Realty Trust from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Jefferies Financial Group upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and increased their price target for the stock from $20.00 to $24.00 in a research report on Monday, March 10th. Finally, Wells Fargo & Company assumed coverage on Independence Realty Trust in a research report on Wednesday, March 19th. They set an “overweight” rating and a $24.00 price target on the stock. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.70.

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.