Independence Realty Trust, Inc. (NYSE:IRT) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 15.3% in the second quarter, Holdings Channel reports. The firm owned 42,537 shares of the real estate investment trust’s stock after purchasing an additional 5,644 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Independence Realty Trust were worth $797,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Taylor Frigon Capital Management LLC grew its stake in Independence Realty Trust by 0.7% during the second quarter. Taylor Frigon Capital Management LLC now owns 79,217 shares of the real estate investment trust’s stock worth $1,485,000 after buying an additional 571 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Independence Realty Trust by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 131,019 shares of the real estate investment trust’s stock valued at $2,112,000 after acquiring an additional 671 shares during the period. State of Michigan Retirement System lifted its holdings in shares of Independence Realty Trust by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 55,100 shares of the real estate investment trust’s stock valued at $889,000 after acquiring an additional 1,200 shares in the last quarter. Retirement Systems of Alabama boosted its position in Independence Realty Trust by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 281,438 shares of the real estate investment trust’s stock worth $4,306,000 after purchasing an additional 1,232 shares during the period. Finally, M&T Bank Corp increased its holdings in Independence Realty Trust by 5.8% in the 4th quarter. M&T Bank Corp now owns 22,941 shares of the real estate investment trust’s stock valued at $351,000 after purchasing an additional 1,261 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Up 1.7 %

Shares of Independence Realty Trust stock opened at $20.78 on Monday. The business has a fifty day simple moving average of $19.19 and a 200-day simple moving average of $17.26. Independence Realty Trust, Inc. has a fifty-two week low of $11.61 and a fifty-two week high of $20.80. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of -692.44, a price-to-earnings-growth ratio of 3.05 and a beta of 1.14.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, June 28th were given a $0.16 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.08%. Independence Realty Trust’s dividend payout ratio (DPR) is -2,132.62%.

Analyst Ratings Changes

Several equities analysts recently commented on IRT shares. BTIG Research boosted their price target on Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. JMP Securities boosted their target price on shares of Independence Realty Trust from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.17.

Independence Realty Trust Company 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.