Independence Realty Trust, Inc. (NYSE:IRT) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC raised its stake in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,139,652 shares of the real estate investment trust's stock after purchasing an additional 278,959 shares during the period. Jennison Associates LLC owned 2.73% of Independence Realty Trust worth $121,811,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Squarepoint Ops LLC grew its position in shares of Independence Realty Trust by 23.4% in the 2nd quarter. Squarepoint Ops LLC now owns 26,249 shares of the real estate investment trust's stock valued at $492,000 after buying an additional 4,984 shares during the last quarter. AQR Capital Management LLC boosted its stake in Independence Realty Trust by 23.6% in the second quarter. AQR Capital Management LLC now owns 31,702 shares of the real estate investment trust's stock valued at $585,000 after acquiring an additional 6,049 shares in the last quarter. Algert Global LLC purchased a new position in shares of Independence Realty Trust during the second quarter worth about $592,000. Creative Planning increased its position in shares of Independence Realty Trust by 12.9% during the second quarter. Creative Planning now owns 98,962 shares of the real estate investment trust's stock worth $1,855,000 after purchasing an additional 11,338 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Independence Realty Trust by 1.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 69,961 shares of the real estate investment trust's stock valued at $1,434,000 after purchasing an additional 900 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company's stock.

Analyst Upgrades and Downgrades

IRT has been the topic of a number of research reports. BMO Capital Markets upgraded Independence Realty Trust from an "underperform" rating to a "market perform" rating and raised their price target for the stock from $19.00 to $21.00 in a research note on Friday, November 15th. Barclays lowered their target price on shares of Independence Realty Trust from $23.00 to $21.00 and set an "equal weight" rating on the stock in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $20.86.

Independence Realty Trust Stock Performance

Independence Realty Trust stock traded up $0.05 during mid-day trading on Friday, reaching $19.92. 1,503,190 shares of the company were exchanged, compared to its average volume of 1,500,104. The firm has a market cap of $4.48 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 2.68 and a beta of 1.21. The firm's 50-day simple moving average is $19.89 and its two-hundred day simple moving average is $20.02. Independence Realty Trust, Inc. has a twelve month low of $14.07 and a twelve month high of $22.26.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were given a $0.16 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.64 dividend on an annualized basis and a yield of 3.21%.

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.