Clearstead Trust LLC Sells 6,033 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Clearstead Trust LLC cut its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 58.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,359 shares of the real estate investment trust’s stock after selling 6,033 shares during the quarter. Clearstead Trust LLC’s holdings in Independence Realty Trust were worth $82,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in Independence Realty Trust by 5.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,308,557 shares of the real estate investment trust’s stock worth $62,001,000 after buying an additional 176,119 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Independence Realty Trust in the 2nd quarter valued at about $22,464,000. Envestnet Asset Management Inc. raised its holdings in shares of Independence Realty Trust by 52.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 111,075 shares of the real estate investment trust’s stock valued at $2,082,000 after purchasing an additional 38,441 shares during the period. Federated Hermes Inc. raised its holdings in shares of Independence Realty Trust by 327.6% in the 2nd quarter. Federated Hermes Inc. now owns 113,985 shares of the real estate investment trust’s stock valued at $2,136,000 after purchasing an additional 87,329 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Independence Realty Trust by 58.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 85,089 shares of the real estate investment trust’s stock valued at $1,541,000 after purchasing an additional 31,360 shares during the period. 88.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IRT. Deutsche Bank Aktiengesellschaft upped their target price on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. KeyCorp increased their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. BTIG Research increased their price target on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, JMP Securities increased their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Monday, September 9th. Two research analysts have rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.57.

Independence Realty Trust Price Performance

Shares of NYSE:IRT opened at $21.09 on Tuesday. The company has a market cap of $4.75 billion, a price-to-earnings ratio of -702.77, a PEG ratio of 3.00 and a beta of 1.17. The firm has a 50 day simple moving average of $19.59 and a 200 day simple moving average of $17.69. Independence Realty Trust, Inc. has a one year low of $11.61 and a one year high of $21.18.

Independence Realty Trust Profile

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.