abrdn plc Has $1.44 Million Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

abrdn plc raised its position in Independence Realty Trust, Inc. (NYSE:IRT) by 60.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,547 shares of the real estate investment trust’s stock after purchasing an additional 27,377 shares during the quarter. abrdn plc’s holdings in Independence Realty Trust were worth $1,436,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in Independence Realty Trust in the third quarter valued at approximately $28,000. Blue Trust Inc. grew its stake in shares of Independence Realty Trust by 295.9% in the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 1,527 shares in the last quarter. Assetmark Inc. acquired a new position in Independence Realty Trust during the third quarter worth $41,000. Avior Wealth Management LLC raised its position in Independence Realty Trust by 437.8% during the third quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 2,443 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in Independence Realty Trust in the third quarter valued at $64,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Up 0.8 %

Shares of IRT stock opened at $20.07 on Tuesday. The firm has a market cap of $4.52 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 2.77 and a beta of 1.21. The business has a 50-day moving average price of $19.85 and a two-hundred day moving average price of $20.04. Independence Realty Trust, Inc. has a 12-month low of $14.07 and a 12-month high of $22.26.

Independence Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Tuesday, December 31st.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. BMO Capital Markets upgraded Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $19.00 to $21.00 in a research note on Friday, November 15th. Barclays reduced their price objective on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.86.

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.