Orion Portfolio Solutions LLC Purchases Shares of 26,460 Independence Realty Trust, Inc. (NYSE:IRT)

Orion Portfolio Solutions LLC purchased a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 26,460 shares of the real estate investment trust's stock, valued at approximately $542,000.

A number of other large investors also recently made changes to their positions in IRT. Massachusetts Financial Services Co. MA increased its holdings in Independence Realty Trust by 236.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,027,943 shares of the real estate investment trust's stock worth $82,573,000 after buying an additional 2,829,247 shares during the last quarter. Wellington Management Group LLP increased its holdings in Independence Realty Trust by 24.4% during the third quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust's stock worth $232,900,000 after buying an additional 2,225,371 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Independence Realty Trust by 419.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,433,058 shares of the real estate investment trust's stock worth $29,378,000 after buying an additional 1,157,052 shares during the last quarter. B&I Capital AG purchased a new stake in Independence Realty Trust during the second quarter worth about $10,900,000. Finally, Easterly Investment Partners LLC purchased a new stake in Independence Realty Trust during the third quarter worth about $11,132,000. 88.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IRT has been the subject of several recent analyst reports. KeyCorp boosted their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Barclays initiated coverage on shares of Independence Realty Trust in a report on Tuesday. They set an "equal weight" rating and a $23.00 target price on the stock. JMP Securities upped 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 upped their target price on shares of Independence Realty Trust from $18.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, September 10th. Finally, BMO Capital Markets raised shares of Independence Realty Trust from an "underperform" rating to a "market perform" rating and upped their target price for the stock from $19.00 to $21.00 in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $21.14.

Independence Realty Trust Stock Down 4.3 %

Shares of Independence Realty Trust stock traded down $0.92 during trading on Wednesday, reaching $20.26. The company's stock had a trading volume of 2,052,962 shares, compared to its average volume of 2,208,247. Independence Realty Trust, Inc. has a 52-week low of $14.07 and a 52-week high of $22.26. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 75.04, a PEG ratio of 3.07 and a beta of 1.19. The firm's 50-day moving average is $20.60 and its two-hundred day moving average is $19.76.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be paid 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 3.16%. Independence Realty Trust's dividend payout ratio (DPR) is 237.04%.

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.