Belpointe Asset Management LLC Has $350,000 Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Belpointe Asset Management LLC raised its stake in shares of Independence Realty Trust, Inc. (NYSE:IRTFree Report) by 7.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,872 shares of the real estate investment trust’s stock after purchasing an additional 1,655 shares during the period. Belpointe Asset Management LLC’s holdings in Independence Realty Trust were worth $350,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Independence Realty Trust in the fourth quarter worth $52,048,000. Jennison Associates LLC grew its stake in shares of Independence Realty Trust by 29.5% in the fourth quarter. Jennison Associates LLC now owns 4,129,313 shares of the real estate investment trust’s stock worth $63,178,000 after acquiring an additional 941,676 shares during the last quarter. Peregrine Capital Management LLC acquired a new stake in shares of Independence Realty Trust in the fourth quarter worth $7,728,000. Ranger Global Real Estate Advisors LLC grew its stake in shares of Independence Realty Trust by 15.0% in the third quarter. Ranger Global Real Estate Advisors LLC now owns 3,539,156 shares of the real estate investment trust’s stock worth $49,796,000 after acquiring an additional 461,572 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. grew its stake in shares of Independence Realty Trust by 25.5% in the third quarter. Van Lanschot Kempen Investment Management N.V. now owns 853,747 shares of the real estate investment trust’s stock worth $12,012,000 after acquiring an additional 173,700 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Wall Street Analysts Forecast Growth

IRT has been the topic of several research analyst reports. JMP Securities raised their price objective on shares of Independence Realty Trust from $15.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Wednesday, March 6th. Barclays decreased their price target on shares of Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 20th. Royal Bank of Canada lifted their price target on shares of Independence Realty Trust from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Finally, TheStreet downgraded shares of Independence Realty Trust from a “c” rating to a “d+” rating in a research note on Friday, March 1st. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Independence Realty Trust presently has an average rating of “Hold” and an average price target of $17.00.

Get Our Latest Research Report on IRT

Independence Realty Trust Price Performance

Shares of NYSE IRT opened at $17.34 on Friday. The business has a fifty day moving average of $16.30 and a two-hundred day moving average of $15.48. Independence Realty Trust, Inc. has a 52-week low of $11.61 and a 52-week high of $18.77.

Independence Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, March 29th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.69%. Independence Realty Trust’s payout ratio is presently -2,132.62%.

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

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