GW&K Investment Management LLC Sells 45,077 Shares of Independence Realty Trust, Inc. $IRT

GW&K Investment Management LLC trimmed its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 3.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,367,537 shares of the real estate investment trust’s stock after selling 45,077 shares during the quarter. GW&K Investment Management LLC owned about 0.57% of Independence Realty Trust worth $22,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. NewEdge Advisors LLC bought a new position in shares of Independence Realty Trust during the first quarter valued at approximately $209,000. Goldman Sachs Group Inc. grew its stake in shares of Independence Realty Trust by 16.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,935,487 shares of the real estate investment trust’s stock worth $62,320,000 after buying an additional 420,682 shares during the last quarter. Teacher Retirement System of Texas increased its position in Independence Realty Trust by 6.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 35,099 shares of the real estate investment trust’s stock valued at $621,000 after buying an additional 2,135 shares in the last quarter. Hantz Financial Services Inc. raised its stake in Independence Realty Trust by 551.2% during the second quarter. Hantz Financial Services Inc. now owns 1,869 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,582 shares during the last quarter. Finally, Atria Investments Inc boosted its holdings in Independence Realty Trust by 17.8% in the second quarter. Atria Investments Inc now owns 54,381 shares of the real estate investment trust’s stock worth $962,000 after acquiring an additional 8,228 shares in the last quarter. 88.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IRT has been the topic of a number of analyst reports. Zacks Research cut shares of Independence Realty Trust from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Independence Realty Trust in a report on Monday, December 29th. BMO Capital Markets upgraded shares of Independence Realty Trust from a “market perform” rating to an “outperform” rating and increased their price target for the company from $20.00 to $22.00 in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft lowered shares of Independence Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a report on Tuesday, January 20th. Finally, Wells Fargo & Company cut their target price on Independence Realty Trust from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Independence Realty Trust has a consensus rating of “Moderate Buy” and a consensus target price of $21.25.

Independence Realty Trust Price Performance

NYSE IRT opened at $16.66 on Friday. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 69.42, a PEG ratio of 2.12 and a beta of 0.99. Independence Realty Trust, Inc. has a 1-year low of $15.06 and a 1-year high of $21.67. The business’s fifty day moving average price is $16.87 and its 200-day moving average price is $16.83.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $167.13 million during the quarter, compared to analyst estimates of $170.26 million. Independence Realty Trust had a return on equity of 1.58% and a net margin of 8.60%.Independence Realty Trust’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 earnings per share. Equities research analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Wednesday, December 31st were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Wednesday, December 31st. Independence Realty Trust’s dividend payout ratio is 283.33%.

About Independence Realty Trust

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.