Victory Capital Management Inc. Has $2.31 Million Position in Independence Realty Trust, Inc. (NYSE:IRT)

Victory Capital Management Inc. boosted its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 159.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,159 shares of the real estate investment trust’s stock after purchasing an additional 75,715 shares during the quarter. Victory Capital Management Inc. owned about 0.05% of Independence Realty Trust worth $2,308,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new stake in shares of Independence Realty Trust in the 1st quarter valued at about $31,000. Lazard Asset Management LLC bought a new position in Independence Realty Trust in the first quarter worth approximately $40,000. Advisors Asset Management Inc. grew its stake in Independence Realty Trust by 146.6% in the first quarter. Advisors Asset Management Inc. now owns 2,833 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 1,684 shares during the period. EdgeRock Capital LLC bought a new stake in shares of Independence Realty Trust during the second quarter valued at approximately $76,000. Finally, Triad Wealth Partners LLC acquired a new position in shares of Independence Realty Trust during the second quarter worth approximately $154,000. 88.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. KeyCorp lifted their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. BTIG Research boosted their target price on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. JMP Securities raised their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a research report on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat, Independence Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.57.

Independence Realty Trust Stock Performance

Shares of IRT stock opened at $20.89 on Wednesday. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of -696.17, a PEG ratio of 3.00 and a beta of 1.17. Independence Realty Trust, Inc. has a 52-week low of $11.61 and a 52-week high of $21.18. The company has a 50-day simple moving average of $19.64 and a two-hundred day simple moving average of $17.73.

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.