Paradigm Financial Partners LLC Has $2.59 Million Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Paradigm Financial Partners LLC trimmed its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 11.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 169,062 shares of the real estate investment trust’s stock after selling 22,698 shares during the period. Paradigm Financial Partners LLC’s holdings in Independence Realty Trust were worth $2,587,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp grew its stake in Independence Realty Trust by 83.9% in the 4th quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 1,183 shares during the last quarter. Allworth Financial LP boosted its holdings in Independence Realty Trust by 37.0% in the 4th quarter. Allworth Financial LP now owns 4,237 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 1,145 shares during the period. Sound Income Strategies LLC boosted its holdings in Independence Realty Trust by 36.1% in the 4th quarter. Sound Income Strategies LLC now owns 4,850 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 1,287 shares during the period. Clearstead Advisors LLC bought a new stake in Independence Realty Trust in the 3rd quarter valued at $85,000. Finally, Lindbrook Capital LLC boosted its holdings in Independence Realty Trust by 19.8% in the 4th quarter. Lindbrook Capital LLC now owns 6,379 shares of the real estate investment trust’s stock valued at $98,000 after purchasing an additional 1,054 shares during the period. 88.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Independence Realty Trust Trading Up 1.3 %

IRT stock traded up $0.20 during trading on Friday, hitting $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 one year low of $11.61 and a one year high of $18.77. The company has a 50 day simple moving average of $15.66 and a 200 day simple moving average of $14.79.

Independence Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, March 29th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.04%. The ex-dividend date was Wednesday, March 27th. Independence Realty Trust’s dividend payout ratio is currently -2,132.62%.

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.