Blue Trust Inc. Buys 1,527 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Blue Trust Inc. lifted its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 295.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,043 shares of the real estate investment trust’s stock after acquiring an additional 1,527 shares during the quarter. Blue Trust Inc.’s holdings in Independence Realty Trust were worth $38,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new position in shares of Independence Realty Trust during the 3rd quarter valued at approximately $28,000. Aurora Investment Managers LLC. boosted its stake in Independence Realty Trust by 24.8% in the 3rd quarter. Aurora Investment Managers LLC. now owns 171,215 shares of the real estate investment trust’s stock worth $3,510,000 after purchasing an additional 34,066 shares during the period. Hunter Perkins Capital Management LLC boosted its stake in Independence Realty Trust by 3.7% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 40,975 shares of the real estate investment trust’s stock worth $840,000 after purchasing an additional 1,450 shares during the period. Creative Planning boosted its stake in Independence Realty Trust by 2.6% in the 3rd quarter. Creative Planning now owns 101,549 shares of the real estate investment trust’s stock worth $2,082,000 after purchasing an additional 2,587 shares during the period. Finally, Koshinski Asset Management Inc. boosted its stake in Independence Realty Trust by 144.2% in the 3rd quarter. Koshinski Asset Management Inc. now owns 44,395 shares of the real estate investment trust’s stock worth $910,000 after purchasing an additional 26,213 shares during the period. 88.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on IRT. JMP Securities upped their price target on Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft upped their price target on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. BTIG Research upped their price target 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. Finally, KeyCorp upped 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. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.57.

Independence Realty Trust Price Performance

Shares of IRT opened at $19.06 on Friday. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 2.88 and a beta of 1.17. Independence Realty Trust, Inc. has a 1 year low of $12.50 and a 1 year high of $21.20. The business’s 50 day simple moving average is $20.11 and its 200-day simple moving average is $18.63.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were issued a dividend of $0.16 per share. The ex-dividend date was Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 3.36%.

Independence Realty Trust Company 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.