Independence Realty Trust, Inc. (NYSE:IRT) Stake Lifted by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its position in Independence Realty Trust, Inc. (NYSE:IRT) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 133,831 shares of the real estate investment trust’s stock after purchasing an additional 643 shares during the period. State of Alaska Department of Revenue’s holdings in Independence Realty Trust were worth $2,654,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its holdings 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 buying an additional 2,829,247 shares during the period. Wellington Management Group LLP raised its position in Independence Realty Trust by 24.4% in the third quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust’s stock worth $232,900,000 after acquiring an additional 2,225,371 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Independence Realty Trust by 419.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,433,058 shares of the real estate investment trust’s stock valued at $29,378,000 after acquiring an additional 1,157,052 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Independence Realty Trust by 38.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust’s stock valued at $51,150,000 after purchasing an additional 686,630 shares in the last quarter. Finally, Easterly Investment Partners LLC acquired a new position in shares of Independence Realty Trust in the 3rd quarter worth approximately $11,132,000. 88.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IRT has been the subject of several recent research reports. 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, November 15th. Barclays cut their price objective on Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.86.

Independence Realty Trust Stock Up 0.3 %

IRT opened at $19.92 on Monday. The stock has a fifty day moving average of $19.85 and a 200-day moving average of $20.04. The firm has a market capitalization of $4.48 billion, a P/E ratio of 17.43, a PEG ratio of 2.77 and a beta of 1.21. Independence Realty Trust, Inc. has a 12-month low of $14.07 and a 12-month high of $22.26.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Tuesday, December 31st.

About Independence Realty Trust

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.