Independence Realty Trust, Inc. (NYSE:IRT) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC lifted its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,860,693 shares of the real estate investment trust’s stock after purchasing an additional 83,030 shares during the period. Jennison Associates LLC owned about 2.60% of Independence Realty Trust worth $120,144,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Independence Realty Trust by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 32,744,270 shares of the real estate investment trust’s stock valued at $528,165,000 after acquiring an additional 343,334 shares during the last quarter. Long Pond Capital LP increased its stake in Independence Realty Trust by 204.7% during the first quarter. Long Pond Capital LP now owns 10,414,483 shares of the real estate investment trust’s stock valued at $167,986,000 after purchasing an additional 6,996,365 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Independence Realty Trust by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,308,557 shares of the real estate investment trust’s stock valued at $62,001,000 after purchasing an additional 176,119 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Independence Realty Trust by 2.8% in 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 buying an additional 68,117 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Independence Realty Trust in the 2nd quarter valued at about $22,464,000. 88.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Independence Realty Trust Stock Down 0.0 %

IRT stock opened at $21.35 on Thursday. The company has a 50-day simple moving average of $20.21 and a 200 day simple moving average of $19.10. The company has a market capitalization of $4.81 billion, a P/E ratio of 79.07, a PEG ratio of 3.00 and a beta of 1.17. Independence Realty Trust, Inc. has a fifty-two week low of $13.11 and a fifty-two week high of $21.49.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Monday, September 30th. Independence Realty Trust’s dividend payout ratio is currently 237.04%.

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.