Barclays PLC Increases Position in Independence Realty Trust, Inc. (NYSE:IRT)

Barclays PLC grew its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 182.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 400,376 shares of the real estate investment trust’s stock after acquiring an additional 258,549 shares during the period. Barclays PLC owned about 0.18% of Independence Realty Trust worth $8,208,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of IRT. Wealth Enhancement Advisory Services LLC grew its stake in Independence Realty Trust by 67.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 24,588 shares of the real estate investment trust’s stock valued at $461,000 after buying an additional 9,904 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Independence Realty Trust by 1.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 115,090 shares of the real estate investment trust’s stock valued at $2,176,000 after purchasing an additional 1,866 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in Independence Realty Trust during the second quarter valued at about $76,000. Bank of New York Mellon Corp grew its position in Independence Realty Trust by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,468,193 shares of the real estate investment trust’s stock worth $46,254,000 after acquiring an additional 68,117 shares during the last quarter. Finally, Bailard Inc. purchased a new position in shares of Independence Realty Trust in the second quarter worth $206,000. 88.25% of the stock is owned by hedge funds and other institutional investors.

Independence Realty Trust Trading Down 1.7 %

Shares of NYSE IRT opened at $21.18 on Wednesday. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 78.44, a price-to-earnings-growth ratio of 3.07 and a beta of 1.19. Independence Realty Trust, Inc. has a 12-month low of $14.07 and a 12-month high of $22.26. The firm has a 50 day moving average of $20.60 and a 200 day moving average of $19.76.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Tuesday, December 31st. Independence Realty Trust’s payout ratio is 237.04%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IRT. KeyCorp lifted their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $19.00 to $21.00 in a research report on Friday, November 15th. JMP Securities boosted their target price on Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a report on Monday, September 9th. Barclays initiated coverage on shares of Independence Realty Trust in a research note on Tuesday. They set an “equal weight” rating and a $23.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.14.

Independence Realty Trust 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.