DekaBank Deutsche Girozentrale Reduces Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

DekaBank Deutsche Girozentrale cut its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 36.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,729 shares of the real estate investment trust’s stock after selling 31,360 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Independence Realty Trust were worth $1,079,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Independence Realty Trust during the second quarter worth $25,000. Mattson Financial Services LLC purchased a new position in Independence Realty Trust in the 2nd quarter worth $28,000. V Square Quantitative Management LLC acquired a new stake in Independence Realty Trust during the 3rd quarter worth about $28,000. Pathway Financial Advisers LLC purchased a new stake in Independence Realty Trust during the 1st quarter valued at about $31,000. Finally, Blue Trust Inc. increased its holdings in shares of Independence Realty Trust by 295.9% in 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 during the period. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

Shares of NYSE IRT opened at $19.06 on Friday. The company has a market capitalization of $4.29 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 2.81 and a beta of 1.17. The company’s fifty day moving average price is $20.11 and its 200 day moving average price is $18.65. Independence Realty Trust, Inc. has a 1 year low of $12.50 and a 1 year high of $21.20.

Independence Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were paid a $0.16 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.64 annualized dividend and a dividend yield of 3.36%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IRT. KeyCorp lifted 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 upped 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, JMP Securities increased their price target 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. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat, Independence Realty Trust has an average rating of “Moderate Buy” and a consensus target price 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.