Paradigm Financial Partners LLC Decreases Position in Independence Realty Trust, Inc. (NYSE:IRT)

Paradigm Financial Partners LLC decreased its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 11.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 169,062 shares of the real estate investment trust’s stock after selling 22,698 shares during the quarter. Paradigm Financial Partners LLC owned 0.08% of Independence Realty Trust worth $2,587,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Penserra Capital Management LLC boosted its stake in shares of Independence Realty Trust by 2.5% during the third quarter. Penserra Capital Management LLC now owns 31,415 shares of the real estate investment trust’s stock valued at $441,000 after purchasing an additional 774 shares during the period. Arizona State Retirement System increased its position in shares of Independence Realty Trust by 1.4% in the third quarter. Arizona State Retirement System now owns 63,947 shares of the real estate investment trust’s stock valued at $900,000 after acquiring an additional 910 shares during the period. Taylor Frigon Capital Management LLC increased its position in shares of Independence Realty Trust by 1.3% in the third quarter. Taylor Frigon Capital Management LLC now owns 78,256 shares of the real estate investment trust’s stock valued at $1,101,000 after acquiring an additional 986 shares during the period. Lindbrook Capital LLC raised its stake in shares of Independence Realty Trust by 19.8% during the fourth quarter. Lindbrook Capital LLC now owns 6,379 shares of the real estate investment trust’s stock valued at $98,000 after acquiring an additional 1,054 shares during the last quarter. Finally, Bailard Inc. grew its stake in shares of Independence Realty Trust by 6.5% in the fourth quarter. Bailard Inc. now owns 18,215 shares of the real estate investment trust’s stock worth $279,000 after purchasing an additional 1,115 shares during the last quarter. 88.25% of the stock is owned by institutional investors.

Independence Realty Trust Stock Up 1.3 %

NYSE:IRT traded up $0.20 on Friday, reaching $15.86. 1,768,704 shares of the stock traded hands, compared to its average volume of 2,330,950. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $18.77. The company’s fifty day simple moving average is $15.66 and its 200 day simple moving average is $14.79.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, March 29th were given a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.64 annualized dividend and a yield of 4.04%. Independence Realty Trust’s dividend payout ratio (DPR) is presently -2,132.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IRT shares. JMP Securities lifted their price objective 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 started coverage on shares of Independence Realty Trust in a report on Tuesday, January 30th. They issued a “buy” rating and a $18.00 price objective for the company. TheStreet downgraded Independence Realty Trust from a “c” rating to a “d+” rating in a report on Friday, March 1st. Barclays decreased their price objective on Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, February 20th. Finally, Royal Bank of Canada boosted their target price on shares of Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a 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. According to data from MarketBeat.com, the company has a consensus 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.