Quest Partners LLC Takes $189,000 Position in Independence Realty Trust, Inc. (NYSE:IRT)

Quest Partners LLC purchased a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,207 shares of the real estate investment trust’s stock, valued at approximately $189,000.

A number of other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Independence Realty Trust by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,308,557 shares of the real estate investment trust’s stock valued at $62,001,000 after acquiring an additional 176,119 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Independence Realty Trust by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 2,468,193 shares of the real estate investment trust’s stock valued at $46,254,000 after acquiring an additional 68,117 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Independence Realty Trust during the second quarter valued at approximately $22,464,000. Rhumbline Advisers raised its holdings in shares of Independence Realty Trust by 0.4% during the second quarter. Rhumbline Advisers now owns 830,967 shares of the real estate investment trust’s stock valued at $15,572,000 after acquiring an additional 2,975 shares during the period. Finally, Mesirow Institutional Investment Management Inc. raised its holdings in shares of Independence Realty Trust by 47.4% during the second quarter. Mesirow Institutional Investment Management Inc. now owns 810,250 shares of the real estate investment trust’s stock valued at $15,184,000 after acquiring an additional 260,502 shares during the period. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Up 1.3 %

IRT stock opened at $22.01 on Thursday. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 3.11 and a beta of 1.17. Independence Realty Trust, Inc. has a 12 month low of $13.24 and a 12 month high of $22.26. The firm has a 50 day moving average of $20.29 and a two-hundred day moving average of $19.28.

Independence Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.91%. The ex-dividend date was Monday, September 30th.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on IRT shares. KeyCorp boosted 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 report on Friday, September 6th. JMP Securities boosted their price objective 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. Deutsche Bank Aktiengesellschaft boosted their price objective 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. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $19.00 to $21.00 in a research report on Friday, November 15th. Finally, BTIG Research boosted their price objective 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average 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.