Amalgamated Bank Has $2.11 Million Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Amalgamated Bank cut its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,013 shares of the real estate investment trust’s stock after selling 6,170 shares during the quarter. Amalgamated Bank’s holdings in Independence Realty Trust were worth $2,112,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new position in shares of Independence Realty Trust in the second quarter valued at $25,000. Mattson Financial Services LLC acquired a new position in Independence Realty Trust during the 2nd quarter valued at about $28,000. V Square Quantitative Management LLC bought a new stake in Independence Realty Trust during the third quarter worth $28,000. Pathway Financial Advisers LLC purchased a new stake in shares of Independence Realty Trust in the first quarter valued at about $31,000. Finally, Blue Trust Inc. lifted its position in shares of Independence Realty Trust by 295.9% during the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,527 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IRT shares. JMP Securities boosted their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Monday, September 9th. KeyCorp increased their price objective 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 lifted their price objective on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective 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. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.57.

Independence Realty Trust Stock Up 1.0 %

Shares of Independence Realty Trust stock opened at $21.10 on Tuesday. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. Independence Realty Trust, Inc. has a twelve month low of $12.50 and a twelve month high of $21.23. The company’s 50 day moving average is $20.08 and its 200 day moving average is $18.83.

Independence Realty Trust Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 3.03%.

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.