Independence Realty Trust, Inc. $IRT Shares Sold by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL reduced its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 88.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,471 shares of the real estate investment trust’s stock after selling 154,563 shares during the period. Tudor Investment Corp ET AL’s holdings in Independence Realty Trust were worth $336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Alliancebernstein L.P. lifted its holdings in Independence Realty Trust by 0.3% during the 2nd quarter. Alliancebernstein L.P. now owns 9,139,506 shares of the real estate investment trust’s stock worth $161,678,000 after buying an additional 30,701 shares in the last quarter. Long Pond Capital LP lifted its position in shares of Independence Realty Trust by 564.5% in the second quarter. Long Pond Capital LP now owns 5,500,502 shares of the real estate investment trust’s stock valued at $97,304,000 after acquiring an additional 4,672,690 shares in the last quarter. Franklin Resources Inc. raised its stake in Independence Realty Trust by 1,435.4% in the 3rd quarter. Franklin Resources Inc. now owns 3,827,503 shares of the real estate investment trust’s stock valued at $62,733,000 after purchasing an additional 3,578,221 shares during the last quarter. Frontier Capital Management Co. LLC increased its stake in Independence Realty Trust by 2.8% during the second quarter. Frontier Capital Management Co. LLC now owns 3,483,911 shares of the real estate investment trust’s stock worth $61,630,000 after acquiring an additional 94,258 shares during the last quarter. Finally, Citadel Advisors LLC lifted its stake in shares of Independence Realty Trust by 50.8% in the 3rd quarter. Citadel Advisors LLC now owns 3,473,040 shares of the real estate investment trust’s stock valued at $56,923,000 after purchasing an additional 1,170,633 shares in the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on IRT shares. Colliers Securities cut shares of Independence Realty Trust from a “moderate buy” rating to a “hold” rating in a research report on Thursday, December 4th. Zacks Research raised Independence Realty Trust from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. BMO Capital Markets upgraded Independence Realty Trust from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $20.00 to $22.00 in a research note on Friday, January 9th. Wall Street Zen lowered shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Sunday, February 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Independence Realty Trust in a research report on Friday, March 27th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Independence Realty Trust has an average rating of “Moderate Buy” and a consensus price target of $20.61.

Independence Realty Trust Stock Down 0.2%

IRT stock opened at $14.87 on Thursday. The business’s 50-day simple moving average is $16.19 and its 200 day simple moving average is $16.54. The company has a market cap of $3.50 billion, a PE ratio of 61.94, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99. Independence Realty Trust, Inc. has a twelve month low of $14.63 and a twelve month high of $21.56.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data 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 company had revenue of $167.13 million during the quarter, compared to the consensus estimate of $170.26 million. During the same quarter last year, the company earned $0.32 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 27th will be paid 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%.

About Independence Realty Trust

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.