Intech Investment Management LLC Acquires 67,672 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Intech Investment Management LLC lifted its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 561.8% during the third quarter, HoldingsChannel.com reports. The firm owned 79,717 shares of the real estate investment trust’s stock after purchasing an additional 67,672 shares during the period. Intech Investment Management LLC’s holdings in Independence Realty Trust were worth $1,634,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bayesian Capital Management LP acquired a new position in shares of Independence Realty Trust in the first quarter valued at $499,000. Boston Partners acquired a new position in shares of Independence Realty Trust in the first quarter valued at $892,000. Hilton Capital Management LLC acquired a new position in shares of Independence Realty Trust in the third quarter valued at $7,573,000. Cetera Advisors LLC increased its holdings in shares of Independence Realty Trust by 132.9% in the first quarter. Cetera Advisors LLC now owns 241,924 shares of the real estate investment trust’s stock valued at $3,902,000 after purchasing an additional 138,028 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Independence Realty Trust by 169.3% in the first quarter. Cetera Investment Advisers now owns 409,724 shares of the real estate investment trust’s stock valued at $6,609,000 after purchasing an additional 257,555 shares during the last quarter. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

NYSE:IRT opened at $21.75 on Tuesday. Independence Realty Trust, Inc. has a 52 week low of $13.24 and a 52 week high of $22.26. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 19.08, a P/E/G ratio of 3.11 and a beta of 1.17. The firm’s 50-day simple moving average is $20.25 and its 200 day simple moving average is $19.22.

Independence Realty Trust Announces Dividend

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

Analysts Set New Price Targets

IRT has been the topic of several research reports. 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 report on Friday, November 15th. JMP Securities upped their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised 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. BTIG Research raised their price target 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. Finally, KeyCorp raised 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 report on Friday, September 6th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.43.

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.