Assetmark Inc. Invests $41,000 in Independence Realty Trust, Inc. (NYSE:IRT)

Assetmark Inc. bought a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,999 shares of the real estate investment trust’s stock, valued at approximately $41,000.

Other institutional investors also recently added to or reduced their stakes in the company. Easterly Investment Partners LLC bought a new stake in shares of Independence Realty Trust during the third quarter valued at about $11,132,000. Ironsides Asset Advisors LLC acquired a new position in shares of Independence Realty Trust during the third quarter valued at approximately $212,000. Asset Management One Co. Ltd. raised its holdings in Independence Realty Trust by 1.6% during the third quarter. Asset Management One Co. Ltd. now owns 344,688 shares of the real estate investment trust’s stock worth $7,066,000 after purchasing an additional 5,403 shares in the last quarter. Van ECK Associates Corp lifted its position in Independence Realty Trust by 12.3% in the third quarter. Van ECK Associates Corp now owns 38,839 shares of the real estate investment trust’s stock worth $773,000 after purchasing an additional 4,263 shares during the period. Finally, US Bancorp DE boosted its stake in Independence Realty Trust by 24.5% during the 3rd quarter. US Bancorp DE now owns 25,318 shares of the real estate investment trust’s stock valued at $519,000 after purchasing an additional 4,989 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IRT. BTIG Research upped their price objective on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, August 12th. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and increased their target price for the company from $19.00 to $21.00 in a research note on Friday. KeyCorp upped their price target on Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Deutsche Bank Aktiengesellschaft lifted their target price on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, JMP Securities upped their target price on Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Monday, September 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.43.

Independence Realty Trust Trading Up 1.2 %

Shares of Independence Realty Trust stock opened at $21.25 on Tuesday. Independence Realty Trust, Inc. has a 1 year low of $12.99 and a 1 year high of $21.29. The stock has a 50-day moving average price of $20.17 and a 200 day moving average price of $19.05. The company has a market cap of $4.78 billion, a P/E ratio of 18.29, a P/E/G ratio of 3.00 and a beta of 1.17.

Independence Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were paid a $0.16 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 3.01%.

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.