Independence Realty Trust, Inc. (NYSE:IRT) Shares Acquired by Pathstone Holdings LLC

Pathstone Holdings LLC raised its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 140.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,272 shares of the real estate investment trust’s stock after purchasing an additional 59,157 shares during the period. Pathstone Holdings LLC’s holdings in Independence Realty Trust were worth $2,076,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IRT. Massachusetts Financial Services Co. MA bought a new stake in shares of Independence Realty Trust during the second quarter valued at approximately $22,464,000. B&I Capital AG acquired a new stake in Independence Realty Trust in the 2nd quarter valued at approximately $10,900,000. Easterly Investment Partners LLC bought a new stake in Independence Realty Trust during the 3rd quarter valued at $11,132,000. Makena Capital Management LLC acquired a new position in Independence Realty Trust during the 2nd quarter worth $10,039,000. Finally, Sei Investments Co. grew its stake in shares of Independence Realty Trust by 241.3% in the second quarter. Sei Investments Co. now owns 735,304 shares of the real estate investment trust’s stock worth $13,780,000 after purchasing an additional 519,841 shares in the last quarter. Institutional investors own 88.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. KeyCorp lifted their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. BTIG Research upped their price target on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $19.00 to $21.00 in a research note on Friday, November 15th. JMP Securities upped their target price 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. 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Independence Realty Trust currently has an average rating of “Moderate Buy” and an average price target of $20.43.

Independence Realty Trust Stock Performance

Shares of NYSE:IRT opened at $21.73 on Wednesday. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 3.11 and a beta of 1.17. Independence Realty Trust, Inc. has a 1-year low of $13.24 and a 1-year high of $22.26. The company has a 50 day moving average price of $20.27 and a 200 day moving average price of $19.26.

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 issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend was Monday, September 30th.

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.