Perpetual Ltd Boosts Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Perpetual Ltd lifted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 38.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,365 shares of the real estate investment trust’s stock after acquiring an additional 11,980 shares during the quarter. Perpetual Ltd’s holdings in Independence Realty Trust were worth $860,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of IRT. Massachusetts Financial Services Co. MA raised its position in shares of Independence Realty Trust by 236.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,027,943 shares of the real estate investment trust’s stock valued at $82,573,000 after purchasing an additional 2,829,247 shares in the last quarter. Wellington Management Group LLP raised its holdings in Independence Realty Trust by 24.4% in the third quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust’s stock valued at $232,900,000 after acquiring an additional 2,225,371 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Independence Realty Trust by 419.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,433,058 shares of the real estate investment trust’s stock valued at $29,378,000 after acquiring an additional 1,157,052 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Independence Realty Trust by 38.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust’s stock worth $51,150,000 after acquiring an additional 686,630 shares in the last quarter. Finally, Easterly Investment Partners LLC bought a new stake in shares of Independence Realty Trust in the 3rd quarter worth about $11,132,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Wall Street Analysts Forecast Growth

IRT has been the topic of several research analyst reports. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $19.00 to $21.00 in a research report on Friday, November 15th. Barclays initiated coverage on Independence Realty Trust in a research report on Tuesday, December 17th. They issued an “equal weight” rating and a $23.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.14.

Independence Realty Trust Trading Down 2.5 %

Shares of Independence Realty Trust stock opened at $18.68 on Thursday. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 2.66 and a beta of 1.21. Independence Realty Trust, Inc. has a twelve month low of $14.07 and a twelve month high of $22.26. The business’s 50 day simple moving average is $20.44 and its 200-day simple moving average is $20.01.

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Tuesday, December 31st.

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.