Prosperitas Financial LLC Sells 4,405 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Prosperitas Financial LLC decreased its position in Independence Realty Trust, Inc. (NYSE:IRT) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,705 shares of the real estate investment trust’s stock after selling 4,405 shares during the quarter. Prosperitas Financial LLC’s holdings in Independence Realty Trust were worth $1,021,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. boosted its position in Independence Realty Trust by 58.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 59,048 shares of the real estate investment trust’s stock worth $1,561,000 after purchasing an additional 21,858 shares during the period. PNC Financial Services Group Inc. boosted its position in Independence Realty Trust by 174.1% during the first quarter. PNC Financial Services Group Inc. now owns 19,091 shares of the real estate investment trust’s stock worth $504,000 after purchasing an additional 12,126 shares during the period. Bank of Montreal Can boosted its position in Independence Realty Trust by 104.2% during the first quarter. Bank of Montreal Can now owns 190,015 shares of the real estate investment trust’s stock worth $5,102,000 after purchasing an additional 96,945 shares during the period. MetLife Investment Management LLC boosted its position in Independence Realty Trust by 219.8% during the first quarter. MetLife Investment Management LLC now owns 116,831 shares of the real estate investment trust’s stock worth $3,089,000 after purchasing an additional 80,293 shares during the period. Finally, Rhumbline Advisers boosted its position in Independence Realty Trust by 105.9% during the first quarter. Rhumbline Advisers now owns 621,639 shares of the real estate investment trust’s stock worth $16,436,000 after purchasing an additional 319,772 shares during the period. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

Shares of NYSE IRT traded down $0.20 during trading hours on Tuesday, reaching $15.66. The stock had a trading volume of 408,699 shares, compared to its average volume of 2,232,400. The business’s fifty day moving average is $15.52 and its two-hundred day moving average is $14.68. Independence Realty Trust, Inc. has a twelve month low of $11.61 and a twelve month high of $18.77.

Independence Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, March 29th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.09%. Independence Realty Trust’s payout ratio is -914.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JMP Securities upped their target price on Independence Realty Trust from $15.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Independence Realty Trust in a research report on Tuesday, January 30th. They issued a “buy” rating and a $18.00 price objective for the company. TheStreet cut Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. Barclays reduced their price objective on Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada increased their price objective on 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 research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $17.00.

About Independence Realty Trust

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.