Quantbot Technologies LP Takes Position in Independence Realty Trust, Inc. (NYSE:IRT)

Quantbot Technologies LP purchased a new position in Independence Realty Trust, Inc. (NYSE:IRT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 112,041 shares of the real estate investment trust’s stock, valued at approximately $2,297,000.

Several other large investors have also recently modified their holdings of the company. Jennison Associates LLC raised its holdings in shares of 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 worth $120,144,000 after purchasing an additional 83,030 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Independence Realty Trust by 236.0% in the 3rd 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 purchasing an additional 2,829,247 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Independence Realty Trust by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,500,696 shares of the real estate investment trust’s stock worth $71,764,000 after acquiring an additional 137,464 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Independence Realty Trust by 5.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,308,557 shares of the real estate investment trust’s stock worth $62,001,000 after purchasing an additional 176,119 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Independence Realty Trust by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,468,193 shares of the real estate investment trust’s stock valued at $46,254,000 after buying an additional 68,117 shares in the last quarter. Institutional investors own 88.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. BTIG Research increased their price target on Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 12th. KeyCorp upped their price target on 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 raised their price objective for the company from $19.00 to $21.00 in a report on Friday, November 15th. JMP Securities raised their price target on Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a research note on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.43.

Independence Realty Trust Stock Up 1.3 %

Shares of NYSE IRT opened at $22.01 on Friday. Independence Realty Trust, Inc. has a 52-week low of $13.24 and a 52-week high of $22.26. The stock has a market capitalization of $4.95 billion, a P/E ratio of 81.52, a PEG ratio of 3.11 and a beta of 1.17. The stock’s 50 day moving average price is $20.31 and its two-hundred day moving average price is $19.30.

Independence Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Monday, September 30th. Independence Realty Trust’s payout ratio is 237.04%.

Independence Realty Trust Company 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.