Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its position in Independence Realty Trust, Inc. (NYSE:IRT) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,849 shares of the real estate investment trust’s stock after selling 2,344 shares during the period. Amalgamated Bank owned approximately 0.06% of Independence Realty Trust worth $1,971,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IRT. Fifth Third Bancorp grew its holdings in Independence Realty Trust by 83.9% in the fourth quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 1,183 shares during the last quarter. Allworth Financial LP increased its holdings in Independence Realty Trust by 37.0% during the 4th quarter. Allworth Financial LP now owns 4,237 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 1,145 shares in the last quarter. Sound Income Strategies LLC raised its position in Independence Realty Trust by 36.1% during the fourth quarter. Sound Income Strategies LLC now owns 4,850 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 1,287 shares during the last quarter. Clearstead Advisors LLC purchased a new stake in shares of Independence Realty Trust in the third quarter valued at about $85,000. Finally, Lindbrook Capital LLC grew its position in shares of Independence Realty Trust by 19.8% in the fourth 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 last quarter. 88.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on IRT shares. TheStreet lowered Independence Realty Trust from a “c” rating to a “d+” rating in a research note on Friday, March 1st. Barclays decreased their price objective on Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Independence Realty Trust in a research note on Tuesday, January 30th. They issued a “buy” rating and a $18.00 target price for the company. JMP Securities lifted their price target on shares of Independence Realty Trust from $15.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday, March 6th. Finally, Royal Bank of Canada boosted their price objective on shares of Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $17.00.

Independence Realty Trust Price Performance

NYSE IRT opened at $16.85 on Monday. The company has a market cap of $3.79 billion, a P/E ratio of -561.48, a P/E/G ratio of 2.47 and a beta of 1.07. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $18.77. The company has a 50-day moving average of $15.93 and a 200-day moving average of $14.98.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, March 29th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date was Wednesday, March 27th. Independence Realty Trust’s dividend payout ratio is currently -2,132.62%.

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.