7,774 Shares in Independence Realty Trust, Inc. (NYSE:IRT) Purchased by Mather Group LLC.

Mather Group LLC. bought a new stake in Independence Realty Trust, Inc. (NYSE:IRT) in the third quarter, HoldingsChannel.com reports. The fund bought 7,774 shares of the real estate investment trust’s stock, valued at approximately $159,000.

Several other institutional investors also recently made changes to their positions in IRT. Advisor Resource Council bought a new position in Independence Realty Trust during the 1st quarter worth $936,000. Bayesian Capital Management LP acquired a new stake in shares of Independence Realty Trust in the 1st quarter worth about $499,000. Vanguard Group Inc. lifted its position in Independence Realty Trust by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 32,744,270 shares of the real estate investment trust’s stock valued at $528,165,000 after purchasing an additional 343,334 shares during the last quarter. Boston Partners bought a new position in Independence Realty Trust in the 1st quarter worth about $892,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Independence Realty Trust by 35.9% in the first quarter. Russell Investments Group Ltd. now owns 205,491 shares of the real estate investment trust’s stock valued at $3,315,000 after purchasing an additional 54,279 shares during the period. 88.25% of the stock is owned by institutional investors.

Independence Realty Trust Stock Up 2.2 %

NYSE:IRT opened at $19.19 on Friday. Independence Realty Trust, Inc. has a 52-week low of $11.61 and a 52-week high of $21.20. The business’s 50-day moving average price is $20.08 and its 200 day moving average price is $18.26. The firm has a market cap of $4.32 billion, a P/E ratio of -639.67, a PEG ratio of 2.79 and a beta of 1.17.

Independence Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Monday, September 30th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.34%. The ex-dividend date is Monday, September 30th. Independence Realty Trust’s dividend payout ratio is presently -2,133.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. KeyCorp raised their price target on Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 6th. JMP Securities upped their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a report on Monday, September 9th. 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 sell rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.57.

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.