Sunbelt Securities Inc. Buys Shares of 3,104 Independence Realty Trust, Inc. (NYSE:IRT)

Sunbelt Securities Inc. bought 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 & Exchange Commission. The fund bought 3,104 shares of the real estate investment trust’s stock, valued at approximately $64,000.

Several other hedge funds also recently modified their holdings of IRT. Massachusetts Financial Services Co. MA increased its position in Independence Realty Trust by 236.0% during 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 buying an additional 2,829,247 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Independence Realty Trust by 24.4% during the 3rd quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust’s stock worth $232,900,000 after acquiring an additional 2,225,371 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 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 last quarter. B&I Capital AG bought a new position in shares of Independence Realty Trust in the 2nd quarter valued at approximately $10,900,000. Finally, Easterly Investment Partners LLC acquired a new stake in Independence Realty Trust in the 3rd quarter worth approximately $11,132,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. KeyCorp lifted their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Deutsche Bank Aktiengesellschaft boosted 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 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 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 objective for the stock from $19.00 to $21.00 in a research report on Friday, November 15th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Independence Realty Trust currently has an average rating of “Moderate Buy” and an average target price of $20.43.

Independence Realty Trust Stock Down 0.2 %

IRT stock opened at $21.40 on Monday. Independence Realty Trust, Inc. has a twelve month low of $14.07 and a twelve month high of $22.26. The company has a market cap of $4.82 billion, a PE ratio of 79.26, a price-to-earnings-growth ratio of 3.07 and a beta of 1.19. The business’s 50-day simple moving average is $20.52 and its 200 day simple moving average is $19.69.

Independence Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders 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 2.99%. The ex-dividend date of this dividend was Monday, September 30th. Independence Realty Trust’s payout ratio is presently 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.