Aurora Investment Managers LLC. Grows Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Aurora Investment Managers LLC. raised its position in Independence Realty Trust, Inc. (NYSE:IRT) by 24.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,215 shares of the real estate investment trust’s stock after purchasing an additional 34,066 shares during the period. Independence Realty Trust comprises about 2.1% of Aurora Investment Managers LLC.’s investment portfolio, making the stock its 19th largest position. Aurora Investment Managers LLC.’s holdings in Independence Realty Trust were worth $3,510,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new position in Independence Realty Trust in the 2nd quarter valued at about $25,000. Mattson Financial Services LLC purchased a new position in Independence Realty Trust in the 2nd quarter valued at about $28,000. Pathway Financial Advisers LLC purchased a new position in Independence Realty Trust in the 1st quarter valued at about $31,000. Lazard Asset Management LLC purchased a new position in Independence Realty Trust in the 1st quarter valued at about $40,000. Finally, Advisors Asset Management Inc. lifted its holdings in Independence Realty Trust by 146.6% in the 1st quarter. Advisors Asset Management Inc. now owns 2,833 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,684 shares in the last quarter. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Independence Realty Trust Price Performance

NYSE IRT traded up $0.09 during mid-day trading on Friday, hitting $19.83. The company’s stock had a trading volume of 94,548 shares, compared to its average volume of 2,288,218. Independence Realty Trust, Inc. has a 52-week low of $11.61 and a 52-week high of $21.20. The stock’s fifty day simple moving average is $20.11 and its two-hundred day simple moving average is $18.34. The firm has a market capitalization of $4.46 billion, a P/E ratio of -658.00, a price-to-earnings-growth ratio of 2.79 and a beta of 1.17.

Independence Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Monday, September 30th will be issued a $0.16 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 3.23%. Independence Realty Trust’s payout ratio is -2,133.33%.

Analyst Ratings Changes

IRT has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upped 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. BTIG Research raised their target price on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. JMP Securities raised their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Monday, September 9th. Finally, KeyCorp raised their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.