Berger Financial Group Inc decreased its position in shares of Independence Realty Trust, Inc. (NYSE:IRT – Free Report) by 10.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 372,788 shares of the real estate investment trust’s stock after selling 43,306 shares during the period. Berger Financial Group Inc owned 0.17% of Independence Realty Trust worth $6,792,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of IRT. Keybank National Association OH grew its stake in shares of Independence Realty Trust by 12.7% in the second quarter. Keybank National Association OH now owns 23,913 shares of the real estate investment trust’s stock worth $436,000 after acquiring an additional 2,693 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Independence Realty Trust by 10.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 126,539 shares of the real estate investment trust’s stock valued at $2,028,000 after buying an additional 12,161 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Independence Realty Trust by 6.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 247,127 shares of the real estate investment trust’s stock valued at $3,961,000 after buying an additional 15,492 shares during the period. Louisiana State Employees Retirement System increased its stake in Independence Realty Trust by 10.3% during the second quarter. Louisiana State Employees Retirement System now owns 65,500 shares of the real estate investment trust’s stock valued at $1,193,000 after acquiring an additional 6,100 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Independence Realty Trust in the 2nd quarter valued at approximately $3,912,000. 85.45% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
IRT has been the topic of a number of research reports. StockNews.com began coverage on Independence Realty Trust in a research report on Thursday, October 5th. They set a “sell” rating on the stock. BMO Capital Markets cut shares of Independence Realty Trust from an “outperform” rating to a “market perform” rating and set a $19.00 price objective for the company. in a research note on Tuesday, July 18th. Royal Bank of Canada decreased their target price on shares of Independence Realty Trust from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 1st. Finally, JMP Securities dropped their price target on shares of Independence Realty Trust from $20.00 to $15.00 and set a “market outperform” rating for the company in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $18.89.
Independence Realty Trust Price Performance
Shares of IRT traded up $0.09 on Wednesday, hitting $13.55. The company’s stock had a trading volume of 134,520 shares, compared to its average volume of 1,940,026. The company has a market capitalization of $3.04 billion, a PE ratio of 51.77, a PEG ratio of 5.47 and a beta of 1.06. Independence Realty Trust, Inc. has a fifty-two week low of $11.61 and a fifty-two week high of $19.68. The company has a 50 day moving average price of $14.01 and a 200 day moving average price of $16.11.
Independence Realty Trust Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, September 29th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date was Thursday, September 28th. Independence Realty Trust’s dividend payout ratio is currently 246.16%.
About Independence Realty Trust
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.
- Five stocks we like better than Independence Realty Trust
- Are Penny Stocks a Good Fit for Your Portfolio?
- 5 must-have next-gen technologies that institutions are buying
- How to Invest in Grocery Stores
- 3 intriguing late-week earnings plays for short-term traders
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Datadog is about to hit 52-week highs, and there’s more to come
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.