Citigroup Inc. Purchases 155,179 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Citigroup Inc. boosted its position in Independence Realty Trust, Inc. (NYSE:IRT) by 81.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 346,197 shares of the real estate investment trust’s stock after purchasing an additional 155,179 shares during the period. Citigroup Inc.’s holdings in Independence Realty Trust were worth $7,097,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IRT. Ashton Thomas Private Wealth LLC acquired a new position in shares of Independence Realty Trust during the second quarter worth $25,000. Mattson Financial Services LLC acquired a new position in Independence Realty Trust during the 2nd quarter worth about $28,000. V Square Quantitative Management LLC bought a new stake in shares of Independence Realty Trust in the 3rd quarter valued at about $28,000. Blue Trust Inc. grew its position in shares of 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. Finally, Lazard Asset Management LLC bought a new position in shares of Independence Realty Trust during the first quarter worth about $40,000. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Stock Down 0.8 %

IRT stock opened at $21.84 on Friday. The firm has a market capitalization of $4.92 billion, a PE ratio of 19.31, a P/E/G ratio of 3.15 and a beta of 1.17. Independence Realty Trust, Inc. has a twelve month low of $13.44 and a twelve month high of $22.26. The stock’s 50 day moving average is $20.33 and its 200-day moving average is $19.35.

Independence Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Monday, September 30th.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IRT shares. KeyCorp upped their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 6th. BTIG Research increased their price target on Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on 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 upgraded Independence Realty Trust from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $19.00 to $21.00 in a report on Friday, November 15th. Finally, JMP Securities lifted their price target 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 equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Independence Realty Trust has a consensus rating of “Moderate Buy” and a consensus price target of $20.43.

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.