Arizona State Retirement System Increases Position in Independence Realty Trust, Inc. (NYSE:IRT)

Arizona State Retirement System boosted its position in shares of Independence Realty Trust, Inc. (NYSE:IRTFree Report) by 1.4% in the third quarter, Holdings Channel.com reports. The firm owned 63,947 shares of the real estate investment trust’s stock after acquiring an additional 910 shares during the period. Arizona State Retirement System’s holdings in Independence Realty Trust were worth $900,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in Independence Realty Trust by 157.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,553 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 950 shares during the last quarter. IFP Advisors Inc boosted its stake in Independence Realty Trust by 176.2% during the 2nd quarter. IFP Advisors Inc now owns 3,000 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 1,914 shares during the last quarter. Lazard Asset Management LLC bought a new position in Independence Realty Trust during the 4th quarter valued at $31,000. Parallel Advisors LLC boosted its stake in Independence Realty Trust by 240.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,776 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 1,255 shares during the last quarter. Finally, Hibernia Wealth Partners LLC bought a new position in Independence Realty Trust during the 3rd quarter valued at $33,000. 85.45% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Price Performance

Independence Realty Trust stock opened at $14.87 on Wednesday. The firm’s 50 day simple moving average is $15.01 and its 200-day simple moving average is $14.89. The company has a market cap of $3.34 billion, a P/E ratio of 57.19 and a beta of 1.07. Independence Realty Trust, Inc. has a fifty-two week low of $11.61 and a fifty-two week high of $19.53.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, December 29th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.30%. The ex-dividend date was Thursday, December 28th. Independence Realty Trust’s dividend payout ratio is currently 246.16%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Royal Bank of Canada reduced their price objective on shares of Independence Realty Trust from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Independence Realty Trust in a research report on Tuesday, January 30th. They issued a “buy” rating and a $18.00 price target on the stock. BMO Capital Markets restated an “underperform” rating and issued a $15.00 price target (up from $14.00) on shares of Independence Realty Trust in a research report on Friday, December 15th. Finally, JMP Securities reduced their price target on shares of Independence Realty Trust from $20.00 to $15.00 and set a “market outperform” rating on the stock in a research report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.83.

Get Our Latest Stock Report on IRT

Independence Realty Trust Profile

(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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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:IRTFree Report).

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

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