Daiwa Securities Group Inc. Acquires 4,782 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Daiwa Securities Group Inc. boosted its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,996 shares of the real estate investment trust’s stock after buying an additional 4,782 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Independence Realty Trust were worth $1,537,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in IRT. Ashton Thomas Private Wealth LLC bought a new position in Independence Realty Trust in the 2nd quarter valued at approximately $25,000. Mattson Financial Services LLC bought a new position in Independence Realty Trust in the 2nd quarter valued at approximately $28,000. V Square Quantitative Management LLC bought a new position in Independence Realty Trust in the 3rd quarter valued at approximately $28,000. Pathway Financial Advisers LLC bought a new position in Independence Realty Trust in the 1st quarter valued at approximately $31,000. Finally, Blue Trust Inc. raised its holdings in Independence Realty Trust by 295.9% in the 3rd quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 1,527 shares during the last quarter. Institutional investors own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on IRT shares. 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 report on Tuesday, September 10th. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and increased their target price for the company from $19.00 to $21.00 in a research report on Friday, November 15th. BTIG Research increased 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. KeyCorp increased their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, JMP Securities increased their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a research report on Monday, September 9th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Independence Realty Trust presently has an average rating of “Moderate Buy” and a consensus price target of $20.43.

Independence Realty Trust Stock Up 1.3 %

Shares of IRT stock opened at $22.01 on Friday. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 81.52, a price-to-earnings-growth ratio of 3.11 and a beta of 1.17. Independence Realty Trust, Inc. has a 52 week low of $13.24 and a 52 week high of $22.26. The firm has a 50 day moving average of $20.31 and a 200-day moving average of $19.30.

Independence Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Monday, September 30th. Independence Realty Trust’s dividend payout ratio (DPR) is 237.04%.

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.