Handelsbanken Fonder AB Has $1.43 Million Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Handelsbanken Fonder AB boosted its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,961 shares of the real estate investment trust’s stock after purchasing an additional 900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Independence Realty Trust were worth $1,434,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Mattson Financial Services LLC acquired a new stake in Independence Realty Trust in the 2nd quarter worth about $28,000. American Trust acquired a new stake in Independence Realty Trust in the 2nd quarter worth about $231,000. Creative Planning raised its stake in Independence Realty Trust by 12.9% in the 2nd quarter. Creative Planning now owns 98,962 shares of the real estate investment trust’s stock worth $1,855,000 after purchasing an additional 11,338 shares in the last quarter. Algert Global LLC acquired a new stake in Independence Realty Trust in the 2nd quarter worth about $592,000. Finally, Makena Capital Management LLC acquired a new stake in Independence Realty Trust in the 2nd quarter worth about $10,039,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

NYSE:IRT opened at $18.77 on Friday. The firm’s fifty day moving average is $20.10 and its 200-day moving average is $18.21. Independence Realty Trust, Inc. has a 52 week low of $11.61 and a 52 week high of $21.20. The firm has a market cap of $4.22 billion, a P/E ratio of -625.67, a P/E/G ratio of 3.10 and a beta of 1.17.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Monday, September 30th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Monday, September 30th. Independence Realty Trust’s dividend payout ratio is currently -2,133.33%.

Analyst Upgrades and Downgrades

Several analysts have 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 stock a “market outperform” rating in a research note on Monday, September 9th. BTIG Research boosted 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 report on Monday, August 12th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, KeyCorp boosted 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 research analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.