Asset Management One Co. Ltd. Has $7.07 Million Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Asset Management One Co. Ltd. raised its position in Independence Realty Trust, Inc. (NYSE:IRT) by 1.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 344,688 shares of the real estate investment trust’s stock after purchasing an additional 5,403 shares during the period. Asset Management One Co. Ltd.’s holdings in Independence Realty Trust were worth $7,066,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Taylor Frigon Capital Management LLC increased its stake in shares of Independence Realty Trust by 0.7% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 79,217 shares of the real estate investment trust’s stock valued at $1,485,000 after acquiring an additional 571 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of Independence Realty Trust by 1.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 69,961 shares of the real estate investment trust’s stock valued at $1,434,000 after acquiring an additional 900 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Independence Realty Trust by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 63,011 shares of the real estate investment trust’s stock valued at $1,181,000 after acquiring an additional 1,255 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Independence Realty Trust in the 2nd quarter valued at $25,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Independence Realty Trust in the 3rd quarter valued at $28,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JMP Securities lifted 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. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. BTIG Research lifted their price objective on shares of Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, KeyCorp upped their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.57.

Independence Realty Trust Price Performance

IRT opened at $20.53 on Friday. The company’s 50-day moving average is $20.07 and its 200 day moving average is $18.74. Independence Realty Trust, Inc. has a fifty-two week low of $12.50 and a fifty-two week high of $21.20. The firm has a market capitalization of $4.62 billion, a P/E ratio of 16.89, a PEG ratio of 2.75 and a beta of 1.17.

Independence Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Monday, September 30th.

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.