Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 77,747 Independence Realty Trust, Inc. (NYSE:IRT)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 77,747 shares of the real estate investment trust’s stock, valued at approximately $1,594,000.

Several other institutional investors and hedge funds have also recently modified their holdings of IRT. Taylor Frigon Capital Management LLC grew its holdings in Independence Realty Trust by 0.7% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 79,217 shares of the real estate investment trust’s stock worth $1,485,000 after acquiring an additional 571 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Independence Realty Trust by 1.3% during the third quarter. Handelsbanken Fonder AB now owns 69,961 shares of the real estate investment trust’s stock valued at $1,434,000 after purchasing an additional 900 shares in the last quarter. Arizona State Retirement System increased its holdings in Independence Realty Trust by 2.0% during the second quarter. Arizona State Retirement System now owns 63,011 shares of the real estate investment trust’s stock valued at $1,181,000 after buying an additional 1,255 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Independence Realty Trust in the second quarter worth approximately $25,000. Finally, V Square Quantitative Management LLC purchased a new stake in Independence Realty Trust during the third quarter worth $28,000. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Trading Down 0.0 %

Shares of Independence Realty Trust stock opened at $21.73 on Wednesday. Independence Realty Trust, Inc. has a 12-month low of $13.24 and a 12-month high of $22.26. The firm’s 50 day simple moving average is $20.27 and its two-hundred day simple moving average is $19.26. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 3.11 and a beta of 1.17.

Independence Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were paid a $0.16 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.64 dividend on an annualized basis and a yield of 2.95%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IRT. Deutsche Bank Aktiengesellschaft lifted their price target on Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. KeyCorp boosted their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. JMP Securities raised their price target 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. 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, November 15th. Finally, BTIG Research raised their target price on shares of Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Independence Realty Trust presently has a consensus 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.