MML Investors Services LLC Makes New $246,000 Investment in Independence Realty Trust, Inc. (NYSE:IRT)

MML Investors Services LLC acquired a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,977 shares of the real estate investment trust’s stock, valued at approximately $246,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in IRT. Ashton Thomas Private Wealth LLC bought a new stake in Independence Realty Trust in the 2nd quarter valued at about $25,000. Mattson Financial Services LLC acquired a new position in shares of Independence Realty Trust during the second quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new position in shares of Independence Realty Trust in the 3rd quarter worth $28,000. Blue Trust Inc. grew its position 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 valued at $38,000 after purchasing an additional 1,527 shares during the period. Finally, Assetmark Inc. bought a new stake in Independence Realty Trust during the 3rd quarter valued at $41,000. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Trading Up 0.7 %

Shares of Independence Realty Trust stock opened at $20.32 on Thursday. The firm has a market capitalization of $4.57 billion, a P/E ratio of 75.26, a price-to-earnings-growth ratio of 3.07 and a beta of 1.19. The business’s fifty day simple moving average is $20.69 and its 200 day simple moving average is $19.86. Independence Realty Trust, Inc. has a 12 month low of $14.07 and a 12 month high of $22.26.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Tuesday, December 31st. Independence Realty Trust’s dividend payout ratio (DPR) is currently 237.04%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. KeyCorp lifted 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 Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $19.00 to $21.00 in a report on Friday, November 15th. Barclays initiated coverage on Independence Realty Trust in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $23.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their price target on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, JMP Securities raised their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a research note on Monday, September 9th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Independence Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.14.

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.