Dimensional Fund Advisors LP Has $62 Million Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Dimensional Fund Advisors LP raised its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 5.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,308,557 shares of the real estate investment trust’s stock after buying an additional 176,119 shares during the quarter. Dimensional Fund Advisors LP owned about 1.47% of Independence Realty Trust worth $62,001,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Long Pond Capital LP grew its stake in Independence Realty Trust by 204.7% in the first quarter. Long Pond Capital LP now owns 10,414,483 shares of the real estate investment trust’s stock valued at $167,986,000 after purchasing an additional 6,996,365 shares in the last quarter. Centersquare Investment Management LLC raised its holdings in Independence Realty Trust by 164.5% in the 4th quarter. Centersquare Investment Management LLC now owns 2,205,569 shares of the real estate investment trust’s stock valued at $33,745,000 after acquiring an additional 1,371,851 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Independence Realty Trust during the second quarter worth approximately $22,464,000. B&I Capital AG bought a new stake in Independence Realty Trust in the 2nd quarter valued at $10,900,000. Finally, Mesirow Institutional Investment Management Inc. bought a new stake in Independence Realty Trust in the 1st quarter valued at $8,867,000. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Stock Down 0.1 %

Shares of Independence Realty Trust stock opened at $20.50 on Friday. Independence Realty Trust, Inc. has a 52 week low of $11.61 and a 52 week high of $21.20. The company has a market cap of $4.61 billion, a PE ratio of -683.17, a P/E/G ratio of 3.10 and a beta of 1.17. The business has a 50 day moving average of $19.93 and a 200 day moving average of $17.95.

Independence Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Monday, September 30th. Independence Realty Trust’s payout ratio is -2,133.33%.

Analysts Set New Price Targets

IRT has been the topic of a number of recent research reports. BTIG Research raised their price objective on Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft upped their target price on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. KeyCorp lifted their price target on Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, JMP Securities upped 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 research analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Independence Realty Trust has a consensus rating of “Moderate Buy” and a consensus target price of $19.57.

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.