Sound Income Strategies LLC Raises Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Sound Income Strategies LLC boosted its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 20.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,295 shares of the real estate investment trust’s stock after buying an additional 732 shares during the quarter. Sound Income Strategies LLC’s holdings in Independence Realty Trust were worth $85,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Hilton Capital Management LLC purchased a new position in shares of Independence Realty Trust during the 3rd quarter worth approximately $7,573,000. SMART Wealth LLC purchased a new position in shares of Independence Realty Trust during the third quarter worth $873,000. Barclays PLC grew its stake in shares of Independence Realty Trust by 182.3% in the third quarter. Barclays PLC now owns 400,376 shares of the real estate investment trust’s stock valued at $8,208,000 after buying an additional 258,549 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Independence Realty Trust by 38.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust’s stock valued at $51,150,000 after buying an additional 686,630 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Independence Realty Trust during the 3rd quarter worth about $1,594,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Independence Realty Trust Price Performance

Shares of NYSE IRT opened at $18.80 on Friday. Independence Realty Trust, Inc. has a 1 year low of $14.07 and a 1 year high of $22.26. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 2.61 and a beta of 1.21. The business has a 50-day moving average of $20.31 and a two-hundred day moving average of $19.99.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.64 annualized dividend and a yield of 3.41%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $19.00 to $21.00 in a research report on Friday, November 15th. Barclays reduced their target price on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Friday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.86.

Independence Realty Trust Profile

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.