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

Sound Income Strategies LLC boosted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 20.5% during the 4th quarter, HoldingsChannel reports. The firm owned 4,295 shares of the real estate investment trust’s stock after purchasing an additional 732 shares during the period. Sound Income Strategies LLC’s holdings in Independence Realty Trust were worth $85,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new position in shares of Independence Realty Trust during the third quarter worth about $28,000. Mattson Financial Services LLC purchased a new position in shares of Independence Realty Trust in the 2nd quarter valued at approximately $28,000. Assetmark Inc. purchased a new position in shares of Independence Realty Trust in the 3rd quarter valued at approximately $41,000. Blue Trust Inc. increased its holdings in shares of Independence Realty Trust by 295.9% in the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,527 shares during the period. Finally, Avior Wealth Management LLC raised its stake in shares of Independence Realty Trust by 437.8% during the third quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 2,443 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on IRT shares. Barclays dropped their price objective on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday. BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $19.00 to $21.00 in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.86.

Independence Realty Trust Trading Up 0.1 %

Shares of IRT opened at $18.80 on Friday. Independence Realty Trust, Inc. has a twelve month low of $14.07 and a twelve month high of $22.26. The firm has a market capitalization of $4.23 billion, a P/E ratio of 16.47, a PEG ratio of 2.61 and a beta of 1.21. The firm’s 50-day moving average is $20.31 and its two-hundred day moving average is $19.99.

Independence Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Tuesday, December 31st.

Independence Realty Trust Company 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.