Federated Hermes Inc. Has $2.14 Million Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Federated Hermes Inc. boosted its position in Independence Realty Trust, Inc. (NYSE:IRT) by 327.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 113,985 shares of the real estate investment trust’s stock after acquiring an additional 87,329 shares during the period. Federated Hermes Inc. owned 0.05% of Independence Realty Trust worth $2,136,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Independence Realty Trust by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 32,744,270 shares of the real estate investment trust’s stock valued at $528,165,000 after acquiring an additional 343,334 shares in the last quarter. Long Pond Capital LP raised its stake in shares of 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 worth $167,986,000 after purchasing an additional 6,996,365 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Independence Realty Trust by 7.3% in the first quarter. Jennison Associates LLC now owns 4,429,594 shares of the real estate investment trust’s stock worth $71,449,000 after purchasing an additional 300,281 shares during the last quarter. Norges Bank bought a new position in shares of Independence Realty Trust in the fourth quarter valued at approximately $52,048,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Independence Realty Trust by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,212,828 shares of the real estate investment trust’s stock valued at $49,158,000 after buying an additional 19,060 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

NYSE IRT opened at $20.93 on Friday. The company has a market capitalization of $4.71 billion, a PE ratio of -697.50, a price-to-earnings-growth 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 $21.20. The company has a 50-day simple moving average of $19.78 and a 200 day simple moving average of $17.81.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Monday, September 30th will be paid a $0.16 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 3.06%. Independence Realty Trust’s payout ratio is -2,133.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on IRT shares. BTIG Research raised their price objective on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, August 12th. JMP Securities increased their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Monday, September 9th. KeyCorp boosted their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of 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 research analysts have rated the stock with a sell rating and six 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 a consensus price target 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.