KBC Group NV Buys 2,823 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

KBC Group NV raised its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 43.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,295 shares of the real estate investment trust’s stock after purchasing an additional 2,823 shares during the period. KBC Group NV’s holdings in Independence Realty Trust were worth $184,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in shares of Independence Realty Trust in the third quarter valued at $28,000. Blue Trust Inc. grew its holdings in 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 worth $38,000 after purchasing an additional 1,527 shares during the last quarter. Assetmark Inc. acquired a new position in shares of Independence Realty Trust during the third quarter valued at about $41,000. Avior Wealth Management LLC raised its holdings in shares of Independence Realty Trust by 437.8% in the third quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 2,443 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in Independence Realty Trust during the 3rd quarter worth about $64,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

Shares of Independence Realty Trust stock opened at $19.73 on Thursday. Independence Realty Trust, Inc. has a fifty-two week low of $14.07 and a fifty-two week high of $22.26. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 58.03, a PEG ratio of 2.68 and a beta of 1.21. The stock has a 50 day moving average of $19.98 and a 200 day moving average of $20.03.

Independence Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were issued a $0.16 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.64 annualized dividend and a yield of 3.24%. Independence Realty Trust’s dividend payout ratio (DPR) is currently 188.24%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Barclays decreased their price target on Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. BMO Capital Markets upgraded Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $19.00 to $21.00 in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Independence Realty Trust currently has a consensus rating of “Moderate Buy” and an average price target of $20.86.

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.