11,649 Shares in Independence Realty Trust, Inc. (NYSE:IRT) Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC acquired a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 11,649 shares of the real estate investment trust’s stock, valued at approximately $222,000.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Independence Realty Trust by 24.4% in the 3rd quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust’s stock worth $232,900,000 after purchasing an additional 2,225,371 shares in the last quarter. Jennison Associates LLC lifted its holdings in Independence Realty Trust by 1.4% during the third quarter. Jennison Associates LLC now owns 5,860,693 shares of the real estate investment trust’s stock valued at $120,144,000 after purchasing an additional 83,030 shares in the last quarter. Geode Capital Management LLC increased its stake in Independence Realty Trust by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,857,943 shares of the real estate investment trust’s stock worth $120,108,000 after buying an additional 50,788 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Independence Realty Trust by 236.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,027,943 shares of the real estate investment trust’s stock valued at $82,573,000 after acquiring an additional 2,829,247 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Independence Realty Trust by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,500,696 shares of the real estate investment trust’s stock valued at $71,764,000 after acquiring an additional 137,464 shares in the last quarter. 88.25% of the stock is owned by hedge funds and other institutional investors.

Independence Realty Trust Price Performance

NYSE IRT opened at $19.20 on Tuesday. The stock’s fifty day moving average price is $20.08 and its 200 day moving average price is $20.02. Independence Realty Trust, Inc. has a 1 year low of $14.07 and a 1 year high of $22.26. The company has a market cap of $4.32 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.68 and a beta of 1.21.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Tuesday, December 31st.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $19.00 to $21.00 in a report on Friday, November 15th. Barclays lowered 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Independence Realty Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.86.

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.