Universal Beteiligungs und Servicegesellschaft mbH Sells 360,403 Shares of Independence Realty Trust, Inc. $IRT

Universal Beteiligungs und Servicegesellschaft mbH trimmed its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 63.6% in the third quarter, Holdings Channel reports. The fund owned 206,219 shares of the real estate investment trust’s stock after selling 360,403 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Independence Realty Trust were worth $3,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in IRT. Long Pond Capital LP lifted its position in shares of Independence Realty Trust by 564.5% during the 2nd quarter. Long Pond Capital LP now owns 5,500,502 shares of the real estate investment trust’s stock worth $97,304,000 after purchasing an additional 4,672,690 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Independence Realty Trust in the 2nd quarter valued at approximately $30,368,000. Norges Bank bought a new position in Independence Realty Trust in the 2nd quarter worth approximately $17,642,000. Jennison Associates LLC lifted its holdings in shares of Independence Realty Trust by 12.9% during the second quarter. Jennison Associates LLC now owns 6,926,454 shares of the real estate investment trust’s stock worth $122,529,000 after buying an additional 789,515 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Independence Realty Trust by 32.8% during the second quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,966,540 shares of the real estate investment trust’s stock worth $52,478,000 after buying an additional 732,689 shares during the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Stock Down 2.4%

NYSE:IRT opened at $16.43 on Thursday. The firm has a 50-day moving average price of $17.08 and a 200 day moving average price of $16.95. The firm has a market capitalization of $3.93 billion, a PE ratio of 164.27, a price-to-earnings-growth ratio of 2.05 and a beta of 1.00. Independence Realty Trust, Inc. has a 12-month low of $15.06 and a 12-month high of $21.86.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Independence Realty Trust had a net margin of 3.42% and a return on equity of 0.62%. The company had revenue of $167.14 million during the quarter, compared to the consensus estimate of $168.31 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. On average, research analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Shareholders of record on Wednesday, December 31st were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Wednesday, December 31st. Independence Realty Trust’s dividend payout ratio is 680.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on IRT shares. Deutsche Bank Aktiengesellschaft downgraded shares of Independence Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a research note on Tuesday, January 20th. Barclays boosted their price objective on shares of Independence Realty Trust from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. UBS Group upped their price objective on shares of Independence Realty Trust from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Independence Realty Trust in a research report on Monday, December 29th. Finally, Wall Street Zen cut Independence Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Independence Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.35.

Independence Realty Trust Profile

Independence Realty Trust is a self-administered equity real estate investment trust that acquires, redevelops and manages multi-family communities. The company focuses on workforce housing, targeting Class A and B garden-style apartments in suburban and urban infill locations. Its core activities include sourcing value-add acquisitions, overseeing property renovations and delivering in-house property management services to optimize rental income and occupancy levels.

Headquartered in Wayne, Pennsylvania, Independence Realty Trust maintains a geographically diverse portfolio across several high-growth U.S.