Independence Realty Trust, Inc. (NYSE:IRT) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC boosted its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 23.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,702 shares of the real estate investment trust’s stock after purchasing an additional 6,049 shares during the quarter. AQR Capital Management LLC’s holdings in Independence Realty Trust were worth $585,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. SageView Advisory Group LLC bought a new stake in shares of Independence Realty Trust during the fourth quarter valued at about $297,000. B. Riley Wealth Advisors Inc. raised its position in Independence Realty Trust by 57.3% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 66,544 shares of the real estate investment trust’s stock worth $1,025,000 after acquiring an additional 24,238 shares in the last quarter. Pensionfund Sabic raised its position in Independence Realty Trust by 25.7% in the first quarter. Pensionfund Sabic now owns 44,000 shares of the real estate investment trust’s stock worth $710,000 after acquiring an additional 9,000 shares in the last quarter. Aurora Investment Managers LLC. raised its position in Independence Realty Trust by 214.2% in the first quarter. Aurora Investment Managers LLC. now owns 104,898 shares of the real estate investment trust’s stock worth $1,692,000 after acquiring an additional 71,516 shares in the last quarter. Finally, Congress Asset Management Co. MA raised its position in Independence Realty Trust by 1.3% in the first quarter. Congress Asset Management Co. MA now owns 131,737 shares of the real estate investment trust’s stock worth $2,125,000 after acquiring an additional 1,722 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

IRT has been the topic of several research analyst reports. JMP Securities lifted their target price on 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 boosted their target price on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. BTIG Research boosted their target price on Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.57.

Independence Realty Trust Trading Up 1.4 %

NYSE IRT opened at $19.46 on Tuesday. The business’s 50-day moving average price is $20.09 and its two-hundred day moving average price is $18.30. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $21.20. The firm has a market capitalization of $4.38 billion, a PE ratio of -648.50, a price-to-earnings-growth ratio of 2.79 and a beta of 1.17.

Independence Realty Trust Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Monday, September 30th. Independence Realty Trust’s dividend payout ratio (DPR) is currently -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.