Aurora Investment Managers LLC. Has $3.51 Million Position in Independence Realty Trust, Inc. (NYSE:IRT)

Aurora Investment Managers LLC. grew its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 24.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 171,215 shares of the real estate investment trust's stock after buying an additional 34,066 shares during the period. Independence Realty Trust makes up 2.1% of Aurora Investment Managers LLC.'s portfolio, making the stock its 19th biggest position. Aurora Investment Managers LLC. owned approximately 0.08% of Independence Realty Trust worth $3,510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IRT. Long Pond Capital LP boosted its holdings in Independence Realty Trust by 204.7% during the first quarter. Long Pond Capital LP now owns 10,414,483 shares of the real estate investment trust's stock worth $167,986,000 after buying an additional 6,996,365 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Independence Realty Trust during the 2nd quarter valued at about $22,464,000. B&I Capital AG bought a new position in shares of Independence Realty Trust during the 2nd quarter valued at about $10,900,000. Mesirow Institutional Investment Management Inc. bought a new position in shares of Independence Realty Trust during the 1st quarter valued at about $8,867,000. Finally, Makena Capital Management LLC bought a new position in shares of Independence Realty Trust during the 2nd quarter valued at about $10,039,000. Institutional investors own 88.25% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on IRT shares. BTIG Research lifted their price objective on Independence Realty Trust from $18.00 to $21.00 and gave the company a "buy" rating in a report on Monday, August 12th. JMP Securities lifted their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the company a "market outperform" rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on Independence Realty Trust from $18.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, September 10th. Finally, KeyCorp lifted their target price on Independence Realty Trust from $20.00 to $22.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $19.57.

Independence Realty Trust Trading Up 1.1 %

Shares of NYSE:IRT traded up $0.21 during trading on Friday, hitting $19.95. 947,314 shares of the company were exchanged, compared to its average volume of 2,292,440. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of -661.00, a P/E/G ratio of 2.79 and a beta of 1.17. Independence Realty Trust, Inc. has a fifty-two week low of $11.61 and a fifty-two week high of $21.20. The firm has a fifty day moving average price of $20.11 and a two-hundred day moving average price of $18.34.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Monday, September 30th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Monday, September 30th. Independence Realty Trust's dividend payout ratio (DPR) is -2,133.33%.

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.