State of New Jersey Common Pension Fund D Sells 176,780 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

State of New Jersey Common Pension Fund D lowered its position in Independence Realty Trust, Inc. (NYSE:IRT) by 33.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 346,485 shares of the real estate investment trust’s stock after selling 176,780 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Independence Realty Trust were worth $6,493,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new position in Independence Realty Trust in the 2nd quarter worth $25,000. Pathway Financial Advisers LLC bought a new position in Independence Realty Trust in the 1st quarter worth $31,000. Lazard Asset Management LLC purchased a new stake in Independence Realty Trust in the 1st quarter worth $40,000. Advisors Asset Management Inc. lifted its stake in Independence Realty Trust by 146.6% in the 1st quarter. Advisors Asset Management Inc. now owns 2,833 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 1,684 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Independence Realty Trust in the 2nd quarter worth $64,000. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Trading Up 1.6 %

Shares of NYSE:IRT opened at $20.95 on Monday. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $20.97. The company has a 50-day moving average price of $19.54 and a 200 day moving average price of $17.65. The company has a market cap of $4.72 billion, a price-to-earnings ratio of -698.10, a PEG ratio of 3.00 and a beta of 1.17.

Wall Street Analyst Weigh In

IRT has been the topic of several research analyst reports. JMP Securities boosted their price target on shares of 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 boosted 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 note on Friday, September 6th. BTIG Research boosted 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 note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft boosted 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 note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Independence Realty Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.57.

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.