Fmr LLC Grows Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Fmr LLC boosted its position in Independence Realty Trust, Inc. (NYSE:IRT) by 758.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,193 shares of the real estate investment trust’s stock after purchasing an additional 251,984 shares during the period. Fmr LLC owned about 0.13% of Independence Realty Trust worth $5,846,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC grew its holdings in 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 valued at $120,144,000 after buying an additional 83,030 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Independence Realty Trust by 236.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,027,943 shares of the real estate investment trust’s stock valued at $82,573,000 after buying an additional 2,829,247 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Independence Realty Trust by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,500,696 shares of the real estate investment trust’s stock valued at $71,764,000 after buying an additional 137,464 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in 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 valued at $62,001,000 after buying an additional 176,119 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in 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 valued at $46,254,000 after buying an additional 68,117 shares during the last quarter. 88.25% of the stock is owned by hedge funds and other institutional investors.

Independence Realty Trust Stock Up 0.5 %

Shares of NYSE:IRT opened at $21.45 on Friday. The company’s fifty day moving average is $20.44 and its two-hundred day moving average is $19.59. Independence Realty Trust, Inc. has a 12-month low of $14.07 and a 12-month high of $22.26. The company has a market cap of $4.83 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 3.05 and a beta of 1.19.

Independence Realty Trust Announces Dividend

The business also recently disclosed 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. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Monday, September 30th.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IRT. JMP Securities raised their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised their price objective 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 raised their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, BMO Capital Markets upgraded Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $19.00 to $21.00 in a report on Friday, November 15th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.43.

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.