Independence Realty Trust, Inc. (NYSE:IRT) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 236.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,027,943 shares of the real estate investment trust’s stock after acquiring an additional 2,829,247 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Independence Realty Trust were worth $82,573,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. B&I Capital AG purchased a new position in Independence Realty Trust during the second quarter worth approximately $10,900,000. Easterly Investment Partners LLC acquired a new position in shares of Independence Realty Trust during the 3rd quarter worth approximately $11,132,000. Makena Capital Management LLC purchased a new position in shares of Independence Realty Trust during the 2nd quarter valued at approximately $10,039,000. Sei Investments Co. grew its stake in Independence Realty Trust by 241.3% in the 2nd quarter. Sei Investments Co. now owns 735,304 shares of the real estate investment trust’s stock valued at $13,780,000 after acquiring an additional 519,841 shares during the period. Finally, APG Asset Management US Inc. purchased a new stake in Independence Realty Trust in the 2nd quarter worth $9,395,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Independence Realty Trust Stock Performance

NYSE:IRT opened at $21.75 on Monday. Independence Realty Trust, Inc. has a one year low of $13.24 and a one year high of $21.77. The stock has a market cap of $4.90 billion, a PE ratio of 18.84, a P/E/G ratio of 3.07 and a beta of 1.17. The stock has a 50 day moving average price of $20.24 and a 200 day moving average price of $19.19.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were issued a dividend of $0.16 per share. The ex-dividend date was Monday, September 30th. This represents a $0.64 annualized dividend and a dividend yield of 2.94%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. 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. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and raised their price target for the company from $19.00 to $21.00 in a research note on Friday, November 15th. JMP Securities increased their target price on Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Monday, September 9th. BTIG Research raised their target price on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target 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. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently 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.