International Assets Investment Management LLC Has $39.57 Million Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

International Assets Investment Management LLC boosted its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 1,596.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,008 shares of the real estate investment trust's stock after purchasing an additional 181,633 shares during the quarter. International Assets Investment Management LLC owned about 0.09% of Independence Realty Trust worth $39,570,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Long Pond Capital LP raised its holdings in Independence Realty Trust by 204.7% in the 1st quarter. Long Pond Capital LP now owns 10,414,483 shares of the real estate investment trust's stock valued at $167,986,000 after acquiring an additional 6,996,365 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Independence Realty Trust during the second quarter worth approximately $22,464,000. B&I Capital AG acquired a new stake in Independence Realty Trust during the 2nd quarter worth approximately $10,900,000. Mesirow Institutional Investment Management Inc. bought a new stake in Independence Realty Trust in the 1st quarter valued at $8,867,000. Finally, Makena Capital Management LLC acquired a new position in Independence Realty Trust in the 2nd quarter valued at $10,039,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Independence Realty Trust Stock Performance

Shares of NYSE:IRT traded up $0.08 during midday trading on Monday, hitting $19.86. 1,310,549 shares of the stock were exchanged, compared to its average volume of 2,266,629. The business's 50-day moving average price is $20.12 and its 200 day moving average price is $18.55. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of -663.33, a P/E/G ratio of 2.84 and a beta of 1.17. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $21.20.

Independence Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Monday, September 30th. Independence Realty Trust's payout ratio is currently -2,133.33%.

Analyst Upgrades and Downgrades

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

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.