Swiss National Bank Raises Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Swiss National Bank boosted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRTGet Rating) by 109.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 520,500 shares of the real estate investment trust’s stock after purchasing an additional 271,900 shares during the period. Swiss National Bank’s holdings in Independence Realty Trust were worth $10,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in IRT. Commonwealth Equity Services LLC raised its stake in shares of Independence Realty Trust by 0.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 152,847 shares of the real estate investment trust’s stock valued at $3,168,000 after buying an additional 481 shares during the last quarter. Koshinski Asset Management Inc. lifted its holdings in Independence Realty Trust by 2.0% in the second quarter. Koshinski Asset Management Inc. now owns 25,882 shares of the real estate investment trust’s stock valued at $537,000 after acquiring an additional 504 shares during the period. Integrated Wealth Concepts LLC boosted its position in Independence Realty Trust by 3.4% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,452 shares of the real estate investment trust’s stock worth $320,000 after purchasing an additional 506 shares in the last quarter. FinTrust Capital Advisors LLC grew its stake in shares of Independence Realty Trust by 15.6% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 5,260 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 710 shares during the period. Finally, Congress Asset Management Co. MA increased its holdings in shares of Independence Realty Trust by 0.8% during the 2nd quarter. Congress Asset Management Co. MA now owns 117,937 shares of the real estate investment trust’s stock valued at $2,445,000 after purchasing an additional 919 shares in the last quarter. 83.09% of the stock is owned by hedge funds and other institutional investors.

Independence Realty Trust Price Performance

NYSE IRT opened at $17.67 on Monday. The stock’s 50 day simple moving average is $16.95 and its 200-day simple moving average is $19.90. The company has a market cap of $3.96 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 8.26 and a beta of 0.94. Independence Realty Trust, Inc. has a 1-year low of $15.04 and a 1-year high of $28.42.

Independence Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 21st. Shareholders of record on Friday, September 30th were issued a $0.14 dividend. The ex-dividend date was Thursday, September 29th. This represents a $0.56 dividend on an annualized basis and a yield of 3.17%. Independence Realty Trust’s payout ratio is currently 91.80%.

Analysts Set New Price Targets

IRT has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered their price target on shares of Independence Realty Trust from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, October 19th. Barclays dropped their target price on Independence Realty Trust from $28.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, November 10th. StockNews.com raised Independence Realty Trust to a “sell” rating in a report on Monday, October 31st. Finally, Royal Bank of Canada dropped their price objective on Independence Realty Trust from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.83.

Independence Realty Trust Profile

(Get Rating)

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily apartment properties across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers.

Recommended Stories

Want to see what other hedge funds are holding IRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Independence Realty Trust, Inc. (NYSE:IRTGet Rating).

Institutional Ownership by Quarter for Independence Realty Trust (NYSE:IRT)

Receive News & Ratings for Independence Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independence Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.