Assetmark Inc. Makes New $41,000 Investment in Independence Realty Trust, Inc. (NYSE:IRT)

Assetmark Inc. purchased a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 1,999 shares of the real estate investment trust’s stock, valued at approximately $41,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Independence Realty Trust by 1.1% in the first 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 lifted its stake in shares of Independence Realty Trust by 204.7% in the 1st 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 boosted its holdings in Independence Realty Trust by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,308,557 shares of the real estate investment trust’s stock worth $62,001,000 after purchasing an additional 176,119 shares in the last quarter. Bank of New York Mellon Corp increased its position in Independence Realty Trust by 2.8% during the second 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 bought a new position in Independence Realty Trust during the second quarter valued at about $22,464,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Independence Realty Trust Trading Up 1.2 %

Shares of Independence Realty Trust stock opened at $21.25 on Tuesday. Independence Realty Trust, Inc. has a 1 year low of $12.99 and a 1 year high of $21.29. The company’s fifty day simple moving average is $20.17 and its 200-day simple moving average is $19.05. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 3.00 and a beta of 1.17.

Independence Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.64 annualized dividend and a dividend yield of 3.01%.

About Independence Realty Trust

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.