Intech Investment Management LLC Has $1.63 Million Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Intech Investment Management LLC raised its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 561.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,717 shares of the real estate investment trust’s stock after acquiring an additional 67,672 shares during the quarter. Intech Investment Management LLC’s holdings in Independence Realty Trust were worth $1,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Jennison Associates LLC grew its position in shares of Independence Realty Trust by 1.4% during the 3rd quarter. Jennison Associates LLC now owns 5,860,693 shares of the real estate investment trust’s stock worth $120,144,000 after buying an additional 83,030 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Independence Realty Trust by 5.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,308,557 shares of the real estate investment trust’s stock worth $62,001,000 after buying an additional 176,119 shares during the period. Bank of New York Mellon Corp grew its position in shares of Independence Realty Trust by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,468,193 shares of the real estate investment trust’s stock worth $46,254,000 after buying 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 2nd quarter worth approximately $22,464,000. Finally, Rhumbline Advisers grew its position in shares of Independence Realty Trust by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 830,967 shares of the real estate investment trust’s stock worth $15,572,000 after buying an additional 2,975 shares during the period. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

Shares of IRT opened at $21.75 on Tuesday. Independence Realty Trust, Inc. has a twelve month low of $13.24 and a twelve month high of $22.26. The firm’s 50 day moving average price is $20.25 and its two-hundred day moving average price is $19.22. The firm has a market cap of $4.90 billion, a P/E ratio of 19.08, a PEG ratio of 3.11 and a beta of 1.17.

Independence Realty Trust Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IRT. BTIG Research lifted their price target on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. 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 report on Friday, September 6th. BMO Capital Markets upgraded 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 report on Friday, November 15th. 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 report on Monday, September 9th. Finally, 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 report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.43.

About Independence Realty Trust

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.