Mirae Asset Global Investments Co. Ltd. Grows Position in Independence Realty Trust, Inc. (NYSE:IRT)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 259.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,297 shares of the real estate investment trust’s stock after purchasing an additional 16,814 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Independence Realty Trust were worth $477,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in Independence Realty Trust during the second quarter valued at $25,000. Mattson Financial Services LLC acquired a new stake in shares of Independence Realty Trust during the 2nd quarter valued at about $28,000. V Square Quantitative Management LLC acquired a new stake in shares of Independence Realty Trust during the 3rd quarter valued at about $28,000. Pathway Financial Advisers LLC purchased a new position in shares of Independence Realty Trust in the 1st quarter valued at about $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 worth $38,000 after purchasing an additional 1,527 shares during the period. 88.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised 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. JMP Securities boosted their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a report on Monday, September 9th. KeyCorp increased 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. Finally, BTIG Research boosted their target price on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.57.

Independence Realty Trust Stock Down 2.9 %

Independence Realty Trust stock opened at $19.06 on Friday. The company has a fifty day simple moving average of $20.11 and a 200-day simple moving average of $18.65. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 2.81 and a beta of 1.17. Independence Realty Trust, Inc. has a 52-week low of $12.50 and a 52-week high of $21.20.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were issued 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%.

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.