APG Asset Management US Inc. Acquires New Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

APG Asset Management US Inc. bought a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 500,000 shares of the real estate investment trust’s stock, valued at approximately $9,395,000. APG Asset Management US Inc. owned 0.22% of Independence Realty Trust as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of IRT. Advisor Resource Council bought a new position in Independence Realty Trust in the 1st quarter worth approximately $936,000. Bayesian Capital Management LP bought a new position in shares of Independence Realty Trust in the first quarter worth $499,000. Vanguard Group Inc. grew its stake in shares of Independence Realty Trust by 1.1% in the first quarter. Vanguard Group Inc. now owns 32,744,270 shares of the real estate investment trust’s stock worth $528,165,000 after purchasing an additional 343,334 shares in the last quarter. Boston Partners acquired a new position in shares of Independence Realty Trust during the first quarter valued at $892,000. Finally, Lighthouse Investment Partners LLC raised its stake in shares of Independence Realty Trust by 22.9% during the fourth quarter. Lighthouse Investment Partners LLC now owns 725,000 shares of the real estate investment trust’s stock valued at $11,092,000 after purchasing an additional 135,000 shares in the last quarter. Institutional investors own 88.25% of the company’s stock.

Wall Street Analysts Forecast Growth

IRT has been the subject of a number of recent analyst reports. BTIG Research increased 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 report on Monday, August 12th. JMP Securities raised 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 research note on Monday, September 9th. KeyCorp upped their target price on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, 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 research report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.57.

Independence Realty Trust Stock Performance

Shares of NYSE:IRT opened at $20.52 on Friday. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of -684.00, a PEG ratio of 3.10 and a beta of 1.17. Independence Realty Trust, Inc. has a 1-year low of $11.61 and a 1-year high of $21.20. The company has a 50 day moving average price of $19.90 and a 200 day moving average price of $17.93.

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Monday, September 30th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Monday, September 30th. Independence Realty Trust’s payout ratio is -2,133.33%.

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.