DekaBank Deutsche Girozentrale Sells 31,360 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

DekaBank Deutsche Girozentrale reduced its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 36.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,729 shares of the real estate investment trust's stock after selling 31,360 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Independence Realty Trust were worth $1,079,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Independence Realty Trust by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 32,744,270 shares of the real estate investment trust's stock valued at $528,165,000 after buying an additional 343,334 shares in the last quarter. Long Pond Capital LP increased its stake in shares of 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 valued at $167,986,000 after acquiring an additional 6,996,365 shares during the period. Jennison Associates LLC raised its holdings in Independence Realty Trust by 7.3% during the first quarter. Jennison Associates LLC now owns 4,429,594 shares of the real estate investment trust's stock worth $71,449,000 after purchasing an additional 300,281 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Independence Realty Trust by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,308,557 shares of the real estate investment trust's stock worth $62,001,000 after purchasing an additional 176,119 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Independence Realty Trust by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,468,193 shares of the real estate investment trust's stock valued at $46,254,000 after purchasing an additional 68,117 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Independence Realty Trust Price Performance

NYSE IRT traded down $0.56 on Friday, hitting $19.06. 1,889,971 shares of the stock were exchanged, compared to its average volume of 2,278,871. The company's 50-day moving average price is $20.11 and its two-hundred day moving average price is $18.68. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 2.81 and a beta of 1.17. Independence Realty Trust, Inc. has a 52-week low of $12.50 and a 52-week high of $21.20.

Independence Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.36%. The ex-dividend date was Monday, September 30th.

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.