Independence Realty Trust, Inc. (NYSE:IRT) Holdings Trimmed by Focus Financial Network Inc.

Focus Financial Network Inc. lowered its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 3.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,758 shares of the real estate investment trust’s stock after selling 2,716 shares during the quarter. Focus Financial Network Inc.’s holdings in Independence Realty Trust were worth $1,363,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of IRT. Pathway Financial Advisers LLC bought a new position in Independence Realty Trust during the first quarter valued at about $31,000. Lazard Asset Management LLC acquired a new position in shares of Independence Realty Trust in the 1st quarter valued at $40,000. Advisors Asset Management Inc. boosted its position in shares of Independence Realty Trust by 146.6% in the 1st quarter. Advisors Asset Management Inc. now owns 2,833 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,684 shares during the period. EdgeRock Capital LLC acquired a new position in shares of Independence Realty Trust in the 4th quarter valued at $60,000. Finally, Lindbrook Capital LLC boosted its position in shares of Independence Realty Trust by 19.8% in the 4th quarter. Lindbrook Capital LLC now owns 6,379 shares of the real estate investment trust’s stock valued at $98,000 after purchasing an additional 1,054 shares during the period. Institutional investors own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

IRT has been the subject of a number of research reports. JMP Securities raised their price objective on Independence Realty Trust from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, August 2nd. BTIG Research raised their price objective on Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.17.

Independence Realty Trust Price Performance

IRT traded up $0.05 on Wednesday, hitting $19.63. The company had a trading volume of 314,644 shares, compared to its average volume of 2,314,700. The company’s fifty day moving average price is $18.83 and its 200 day moving average price is $16.96. Independence Realty Trust, Inc. has a 1-year low of $11.61 and a 1-year high of $20.08. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of -655.33, a price-to-earnings-growth ratio of 2.81 and a beta of 1.14.

Independence Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, June 28th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.64 annualized dividend and a yield of 3.26%. Independence Realty Trust’s dividend payout ratio (DPR) is currently -2,133.33%.

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.