Verition Fund Management LLC Grows Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Verition Fund Management LLC boosted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRTFree Report) by 707.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 479,916 shares of the real estate investment trust’s stock after purchasing an additional 420,451 shares during the quarter. Verition Fund Management LLC owned about 0.21% of Independence Realty Trust worth $7,343,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Swiss National Bank increased its position in Independence Realty Trust by 1.0% during the third quarter. Swiss National Bank now owns 493,700 shares of the real estate investment trust’s stock valued at $6,946,000 after acquiring an additional 5,100 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Independence Realty Trust by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,044,923 shares of the real estate investment trust’s stock valued at $42,842,000 after acquiring an additional 46,841 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Independence Realty Trust by 1.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 485,383 shares of the real estate investment trust’s stock valued at $6,829,000 after acquiring an additional 7,805 shares during the last quarter. Rhumbline Advisers increased its position in Independence Realty Trust by 0.6% during the third quarter. Rhumbline Advisers now owns 829,518 shares of the real estate investment trust’s stock valued at $11,671,000 after acquiring an additional 4,649 shares during the last quarter. Finally, Clearstead Advisors LLC bought a new position in Independence Realty Trust during the third quarter valued at $85,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

NYSE IRT opened at $17.71 on Tuesday. The company’s 50-day moving average price is $16.37 and its 200-day moving average price is $15.57. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $18.77.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on IRT shares. JMP Securities boosted their price objective on shares of Independence Realty Trust from $15.00 to $17.00 and gave the company a “market outperform” rating in a research report on Wednesday, March 6th. Royal Bank of Canada boosted their price objective on shares of Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Barclays cut their price objective on shares of Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 20th. Finally, TheStreet cut shares of Independence Realty Trust from a “c” rating to a “d+” rating in a report on Friday, March 1st. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Independence Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $17.00.

Get Our Latest Stock Analysis on IRT

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.

Further Reading

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

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