Independence Realty Trust, Inc. (NYSE:IRT) Holdings Raised by Algert Global LLC

Algert Global LLC increased its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 417.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,343 shares of the real estate investment trust’s stock after purchasing an additional 131,760 shares during the quarter. Algert Global LLC owned approximately 0.07% of Independence Realty Trust worth $3,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. increased its position in shares of Independence Realty Trust by 146.6% in the first quarter. Advisors Asset Management Inc. now owns 2,833 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 1,684 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Independence Realty Trust during the 1st quarter valued at $40,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Independence Realty Trust by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 117,227 shares of the real estate investment trust’s stock valued at $1,891,000 after purchasing an additional 8,319 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Independence Realty Trust in the first quarter worth $499,000. Finally, Virtu Financial LLC purchased a new position in shares of Independence Realty Trust during the first quarter valued at $238,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

NYSE IRT opened at $21.75 on Tuesday. Independence Realty Trust, Inc. has a fifty-two week low of $13.24 and a fifty-two week high of $22.26. The stock’s 50-day moving average is $20.25 and its two-hundred day moving average is $19.22. The firm has a market cap of $4.90 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 3.11 and a beta of 1.17.

Independence Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were issued a $0.16 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 2.94%.

Analyst Ratings Changes

Several research firms have weighed in on IRT. JMP Securities lifted their target price on Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a research note on Monday, September 9th. BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $19.00 to $21.00 in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. KeyCorp upped their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, BTIG Research increased their price objective on Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.43.

Independence Realty Trust Company Profile

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.