BNP Paribas Financial Markets Grows Position in Independence Realty Trust, Inc. (NYSE:IRT)

BNP Paribas Financial Markets grew its position in Independence Realty Trust, Inc. (NYSE:IRT) by 9.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,102 shares of the real estate investment trust’s stock after purchasing an additional 4,755 shares during the period. BNP Paribas Financial Markets’ holdings in Independence Realty Trust were worth $1,130,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. FMR LLC raised its holdings in Independence Realty Trust by 758.8% in the third quarter. FMR LLC now owns 285,193 shares of the real estate investment trust’s stock valued at $5,846,000 after buying an additional 251,984 shares during the period. Quantbot Technologies LP acquired a new stake in Independence Realty Trust in the 3rd quarter valued at $2,297,000. Daiwa Securities Group Inc. raised its position in Independence Realty Trust by 6.8% in the third quarter. Daiwa Securities Group Inc. now owns 74,996 shares of the real estate investment trust’s stock valued at $1,537,000 after purchasing an additional 4,782 shares during the period. Algert Global LLC lifted its stake in shares of Independence Realty Trust by 417.2% during the third quarter. Algert Global LLC now owns 163,343 shares of the real estate investment trust’s stock worth $3,349,000 after purchasing an additional 131,760 shares in the last quarter. Finally, Citigroup Inc. boosted its position in shares of Independence Realty Trust by 81.2% in the third quarter. Citigroup Inc. now owns 346,197 shares of the real estate investment trust’s stock worth $7,097,000 after buying an additional 155,179 shares during the period. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

NYSE IRT opened at $21.39 on Tuesday. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 3.05 and a beta of 1.19. Independence Realty Trust, Inc. has a 12 month low of $14.07 and a 12 month high of $22.26. The company’s fifty day moving average price is $20.40 and its two-hundred day moving average price is $19.54.

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 given a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.64 annualized dividend and a dividend yield of 2.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. 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 report on Monday, August 12th. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $19.00 to $21.00 in a research report on Friday, November 15th. KeyCorp lifted their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft upped 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. Finally, JMP Securities lifted their target price on Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Monday, September 9th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Independence Realty Trust presently has an average 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.