Pensionfund DSM Netherlands Has $1.26 Million Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Pensionfund DSM Netherlands trimmed its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 29.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,500 shares of the real estate investment trust's stock after selling 26,500 shares during the period. Pensionfund DSM Netherlands' holdings in Independence Realty Trust were worth $1,260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in IRT. Ashton Thomas Private Wealth LLC bought a new position in shares of Independence Realty Trust during the second quarter worth $25,000. Mattson Financial Services LLC acquired a new stake in Independence Realty Trust during the 2nd quarter worth $28,000. V Square Quantitative Management LLC bought a new position in Independence Realty Trust during the third quarter worth about $28,000. Blue Trust Inc. grew its stake in Independence Realty Trust by 295.9% in the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust's stock valued at $38,000 after acquiring an additional 1,527 shares during the period. Finally, Assetmark Inc. bought a new stake in shares of Independence Realty Trust in the third quarter worth about $41,000. Institutional investors own 88.25% of the company's stock.

Analysts Set New Price Targets

IRT has been the topic of a number of research analyst reports. Barclays began coverage on shares of Independence Realty Trust in a report on Tuesday, December 17th. They set an "equal weight" rating and a $23.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on Independence Realty Trust from $18.00 to $22.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. JMP Securities upped their price target on 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. Finally, BMO Capital Markets upgraded shares of Independence Realty Trust from an "underperform" rating to a "market perform" rating and lifted their price objective for the company from $19.00 to $21.00 in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $21.14.

Independence Realty Trust Stock Down 3.4 %

Shares of NYSE IRT traded down $0.68 during trading hours on Monday, hitting $19.24. The company had a trading volume of 1,856,360 shares, compared to its average volume of 1,422,053. Independence Realty Trust, Inc. has a 1-year low of $14.07 and a 1-year high of $22.26. The firm's 50 day moving average is $20.73 and its 200-day moving average is $19.98. The stock has a market capitalization of $4.33 billion, a P/E ratio of 74.00, a price-to-earnings-growth ratio of 3.07 and a beta of 1.21.

Independence Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.33%. Independence Realty Trust's payout ratio is 246.15%.

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.