Independence Realty Trust, Inc. (NYSE:IRT) Shares Purchased by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc boosted its position in Independence Realty Trust, Inc. (NYSE:IRT – Get Rating) by 18.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,890 shares of the real estate investment trust’s stock after acquiring an additional 7,490 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Independence Realty Trust were worth $818,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in IRT. Vanguard Group Inc. raised its holdings in Independence Realty Trust by 98.9% in the first quarter. Vanguard Group Inc. now owns 24,329,328 shares of the real estate investment trust’s stock valued at $643,267,000 after acquiring an additional 12,099,993 shares in the last quarter. State Street Corp raised its holdings in Independence Realty Trust by 121.7% during the first quarter. State Street Corp now owns 12,302,671 shares of the real estate investment trust’s stock worth $326,733,000 after purchasing an additional 6,753,959 shares in the last quarter. Long Pond Capital LP raised its holdings in Independence Realty Trust by 158.7% during the third quarter. Long Pond Capital LP now owns 10,240,518 shares of the real estate investment trust’s stock worth $171,324,000 after purchasing an additional 6,282,035 shares in the last quarter. Macquarie Group Ltd. raised its holdings in Independence Realty Trust by 151.8% during the second quarter. Macquarie Group Ltd. now owns 5,042,952 shares of the real estate investment trust’s stock worth $104,585,000 after purchasing an additional 3,040,046 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in Independence Realty Trust by 6,509.5% during the third quarter. Prudential Financial Inc. now owns 1,528,053 shares of the real estate investment trust’s stock worth $32,090,000 after purchasing an additional 1,504,934 shares in the last quarter. Institutional investors and hedge funds own 81.01% of the company’s stock.

Independence Realty Trust Price Performance

NYSE:IRT opened at $16.73 on Tuesday. The firm’s fifty day moving average price is $18.08 and its 200 day moving average price is $17.66. Independence Realty Trust, Inc. has a 1-year low of $15.04 and a 1-year high of $28.42. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 31.57, a price-to-earnings-growth ratio of 7.24 and a beta of 1.00.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on IRT shares. BTIG Research cut their price objective on shares of Independence Realty Trust from $27.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, January 11th. Citigroup raised their price objective on shares of Independence Realty Trust from $18.50 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, February 23rd. Barclays raised their price objective on shares of Independence Realty Trust from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, March 1st. TheStreet raised shares of Independence Realty Trust from a “c+” rating to a “b-” rating in a report on Wednesday, February 15th. Finally, KeyCorp cut their target price on shares of Independence Realty Trust from $25.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, December 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.81.

Independence Realty Trust Profile

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Independence Realty Trust, Inc is a real estate investment trust, which acquires, owns, operates, improves and manages multifamily apartment communities across non-gateway U.S. markets. It aims to provide stockholders risk-adjusted returns through diligent portfolio management, operational performance and consistent return of capital through distributions and capital appreciation.