Foundations Investment Advisors LLC Purchases 3,481 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Foundations Investment Advisors LLC increased its position in Independence Realty Trust, Inc. (NYSE:IRT) by 26.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,797 shares of the real estate investment trust’s stock after buying an additional 3,481 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Independence Realty Trust were worth $333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in 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 worth $82,573,000 after purchasing an additional 2,829,247 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of 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 valued at $232,900,000 after acquiring an additional 2,225,371 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Independence Realty Trust by 419.2% during 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 period. JPMorgan Chase & Co. grew its position in 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 worth $51,150,000 after acquiring an additional 686,630 shares during the last quarter. Finally, Easterly Investment Partners LLC purchased a new position in Independence Realty Trust in the 3rd quarter worth approximately $11,132,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Up 0.6 %

NYSE IRT opened at $19.22 on Friday. The firm has a market capitalization of $4.33 billion, a PE ratio of 16.53, a P/E/G ratio of 2.63 and a beta of 1.21. The stock’s 50 day moving average is $20.13 and its 200 day moving average is $20.01. Independence Realty Trust, Inc. has a twelve month low of $14.07 and a twelve month high of $22.26.

Independence Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Tuesday, December 31st.

Analyst Ratings Changes

Several equities analysts have recently commented on IRT shares. Barclays lowered their price objective on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $19.00 to $21.00 in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Independence Realty Trust presently has an average rating of “Moderate Buy” and a consensus price target of $20.86.

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.