TD Asset Management Inc Cuts Stock Holdings in Independence Realty Trust, Inc. $IRT

TD Asset Management Inc lowered its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 16.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 169,072 shares of the real estate investment trust’s stock after selling 32,842 shares during the quarter. TD Asset Management Inc owned 0.07% of Independence Realty Trust worth $2,771,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. IFM Investors Pty Ltd raised its holdings in shares of Independence Realty Trust by 1.7% in the third quarter. IFM Investors Pty Ltd now owns 37,925 shares of the real estate investment trust’s stock valued at $627,000 after purchasing an additional 628 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in shares of Independence Realty Trust by 5.6% in the 3rd quarter. Perigon Wealth Management LLC now owns 12,357 shares of the real estate investment trust’s stock worth $203,000 after buying an additional 658 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in Independence Realty Trust by 1.0% in the second quarter. Ameritas Investment Partners Inc. now owns 73,270 shares of the real estate investment trust’s stock valued at $1,296,000 after acquiring an additional 759 shares during the last quarter. American Century Companies Inc. grew its position in shares of Independence Realty Trust by 1.1% during the 2nd quarter. American Century Companies Inc. now owns 70,678 shares of the real estate investment trust’s stock valued at $1,250,000 after acquiring an additional 789 shares during the period. Finally, Money Concepts Capital Corp raised its holdings in shares of Independence Realty Trust by 3.0% in the 3rd quarter. Money Concepts Capital Corp now owns 29,353 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 860 shares during the period. 88.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on IRT shares. Deutsche Bank Aktiengesellschaft downgraded Independence Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a research note on Tuesday, January 20th. BMO Capital Markets upgraded Independence Realty Trust from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $20.00 to $22.00 in a research report on Friday, January 9th. Zacks Research lowered Independence Realty Trust from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 22nd. Wall Street Zen downgraded Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Sunday, February 22nd. Finally, Barclays lifted their target price on Independence Realty Trust from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.35.

Independence Realty Trust Trading Up 1.2%

Shares of IRT opened at $16.73 on Thursday. Independence Realty Trust, Inc. has a 12-month low of $15.06 and a 12-month high of $21.67. The company has a market cap of $3.97 billion, a PE ratio of 69.71, a price-to-earnings-growth ratio of 2.09 and a beta of 0.99. The stock has a 50-day moving average price of $16.89 and a 200-day moving average price of $16.83.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. Independence Realty Trust had a net margin of 8.60% and a return on equity of 1.58%. The business had revenue of $167.13 million for the quarter, compared to the consensus estimate of $170.26 million. During the same period last year, the firm posted $0.32 earnings per share. Independence Realty Trust’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, analysts predict that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Dividend Announcement

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

Independence Realty Trust Company 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.