Stifel Financial Corp acquired a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,084 shares of the real estate investment trust's stock, valued at approximately $576,000.
Other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Independence Realty Trust by 236.0% during the 3rd 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 purchasing an additional 2,829,247 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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 valued at $29,378,000 after buying an additional 1,157,052 shares during the period. B&I Capital AG bought a new position in shares of Independence Realty Trust during the second quarter valued at approximately $10,900,000. Easterly Investment Partners LLC bought a new position in shares of Independence Realty Trust during the third quarter valued at approximately $11,132,000. Finally, Makena Capital Management LLC purchased a new stake in shares of Independence Realty Trust in the second quarter worth approximately $10,039,000. 88.25% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently issued reports on IRT. KeyCorp boosted 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. BMO Capital Markets upgraded shares of Independence Realty Trust from an "underperform" rating to a "market perform" rating and upped their price target for the stock from $19.00 to $21.00 in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, September 10th. 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 research note on Monday, September 9th. Finally, Barclays initiated coverage on shares of Independence Realty Trust in a research report on Tuesday, December 17th. They set an "equal weight" rating and a $23.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $21.14.
View Our Latest Analysis on IRT
Independence Realty Trust Price Performance
Shares of NYSE:IRT traded down $0.40 during trading hours on Friday, hitting $19.96. The company's stock had a trading volume of 1,599,264 shares, compared to its average volume of 2,206,534. The firm's fifty day moving average price is $20.71 and its 200 day moving average price is $19.88. 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 capitalization of $4.49 billion, a price-to-earnings ratio of 73.93, a P/E/G ratio of 3.07 and a beta of 1.19.
Independence Realty Trust Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Tuesday, December 31st. Independence Realty Trust's dividend payout ratio (DPR) is 237.04%.
About Independence Realty Trust
(
Free Report)
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.
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