Independence Realty Trust, Inc. (NYSE:IRT) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC grew its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 1.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,860,693 shares of the real estate investment trust’s stock after acquiring an additional 83,030 shares during the period. Jennison Associates LLC’s holdings in Independence Realty Trust were worth $120,144,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IRT. Sei Investments Co. increased its position in shares of Independence Realty Trust by 12.2% in the first quarter. Sei Investments Co. now owns 215,463 shares of the real estate investment trust’s stock worth $3,475,000 after acquiring an additional 23,345 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Independence Realty Trust by 35.9% in the 1st quarter. Russell Investments Group Ltd. now owns 205,491 shares of the real estate investment trust’s stock worth $3,315,000 after purchasing an additional 54,279 shares during the period. Avantax Advisory Services Inc. purchased a new position in Independence Realty Trust during the 1st quarter worth approximately $188,000. Vanguard Group Inc. raised its stake in Independence Realty Trust by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 32,744,270 shares of the real estate investment trust’s stock valued at $528,165,000 after purchasing an additional 343,334 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Independence Realty Trust by 3.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 400,687 shares of the real estate investment trust’s stock valued at $6,462,000 after purchasing an additional 13,942 shares in the last quarter. 88.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IRT. JMP Securities upped their price target on Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a research report on Monday, September 9th. BTIG Research increased their price target 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. KeyCorp raised their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $19.00 to $21.00 in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.43.

Independence Realty Trust Stock Down 0.0 %

IRT stock opened at $21.35 on Thursday. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 79.07, a P/E/G ratio of 3.00 and a beta of 1.17. The firm has a 50 day moving average of $20.21 and a two-hundred day moving average of $19.10. Independence Realty Trust, Inc. has a 12 month low of $13.11 and a 12 month high of $21.49.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.00%. The ex-dividend date was Monday, September 30th. Independence Realty Trust’s payout ratio is 237.04%.

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.