Independence Realty Trust, Inc. (NYSE:IRT) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale increased its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 58.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 85,089 shares of the real estate investment trust’s stock after acquiring an additional 31,360 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Independence Realty Trust were worth $1,541,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of IRT. Taylor Frigon Capital Management LLC boosted its holdings in Independence Realty Trust by 0.7% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 79,217 shares of the real estate investment trust’s stock valued at $1,485,000 after purchasing an additional 571 shares during the last quarter. State of Alaska Department of Revenue grew its position in Independence Realty Trust by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 131,019 shares of the real estate investment trust’s stock worth $2,112,000 after acquiring an additional 671 shares during the period. State of Michigan Retirement System increased its stake in Independence Realty Trust by 2.2% during the first quarter. State of Michigan Retirement System now owns 55,100 shares of the real estate investment trust’s stock worth $889,000 after acquiring an additional 1,200 shares during the last quarter. Arizona State Retirement System raised its position in Independence Realty Trust by 2.0% in the second quarter. Arizona State Retirement System now owns 63,011 shares of the real estate investment trust’s stock valued at $1,181,000 after purchasing an additional 1,255 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Independence Realty Trust in the 2nd quarter valued at $25,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Shares of NYSE IRT opened at $21.13 on Friday. The company has a market cap of $4.75 billion, a price-to-earnings ratio of -704.17, a price-to-earnings-growth ratio of 3.00 and a beta of 1.17. The stock’s 50-day moving average is $19.74 and its two-hundred day moving average is $17.77. Independence Realty Trust, Inc. has a 1-year low of $11.61 and a 1-year high of $21.20.

Independence Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Monday, September 30th will be issued a $0.16 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 3.03%. Independence Realty Trust’s dividend payout ratio (DPR) is -2,133.33%.

Analyst Ratings Changes

A number of brokerages recently issued reports on IRT. Deutsche Bank Aktiengesellschaft raised their price objective on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. BTIG Research upped their price objective on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 12th. JMP Securities lifted 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 report on Monday, September 9th. Finally, KeyCorp upped their price target on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.57.

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.