112,041 Shares in Independence Realty Trust, Inc. (NYSE:IRT) Purchased by Quantbot Technologies LP

Quantbot Technologies LP purchased a new stake in Independence Realty Trust, Inc. (NYSE:IRT) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 112,041 shares of the real estate investment trust’s stock, valued at approximately $2,297,000.

A number of other large investors have also recently added to or reduced their stakes in IRT. Taylor Frigon Capital Management LLC raised its position in shares of Independence Realty Trust by 0.7% during the second quarter. Taylor Frigon Capital Management LLC now owns 79,217 shares of the real estate investment trust’s stock worth $1,485,000 after purchasing an additional 571 shares during the period. Handelsbanken Fonder AB lifted its stake in Independence Realty Trust by 1.3% during the third quarter. Handelsbanken Fonder AB now owns 69,961 shares of the real estate investment trust’s stock valued at $1,434,000 after buying an additional 900 shares in the last quarter. Arizona State Retirement System lifted its stake in Independence Realty Trust by 2.0% during the second quarter. Arizona State Retirement System now owns 63,011 shares of the real estate investment trust’s stock valued at $1,181,000 after buying an additional 1,255 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Independence Realty Trust in the second quarter worth about $25,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Independence Realty Trust in the third quarter worth approximately $28,000. 88.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on IRT. KeyCorp raised their target price on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. BTIG Research raised their price target on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft increased their target price 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. JMP Securities boosted their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Monday, September 9th. Finally, BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $19.00 to $21.00 in a research note on Friday, November 15th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.43.

Independence Realty Trust Stock Performance

IRT opened at $22.01 on Friday. Independence Realty Trust, Inc. has a twelve month low of $13.24 and a twelve month high of $22.26. The business has a 50 day moving average price of $20.31 and a 200 day moving average price of $19.30. The firm has a market cap of $4.95 billion, a P/E ratio of 81.52, a price-to-earnings-growth ratio of 3.11 and a beta of 1.17.

Independence Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Monday, September 30th. Independence Realty Trust’s dividend payout ratio is currently 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.