Tidal Investments LLC raised its holdings in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 751.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,325 shares of the real estate investment trust's stock after purchasing an additional 82,364 shares during the period. Tidal Investments LLC's holdings in Independence Realty Trust were worth $1,913,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in IRT. Virtu Financial LLC acquired a new stake in shares of Independence Realty Trust in the third quarter valued at approximately $267,000. Sunbelt Securities Inc. bought a new position in Independence Realty Trust during the 3rd quarter worth $64,000. Coldstream Capital Management Inc. acquired a new position in Independence Realty Trust in the 3rd quarter valued at $246,000. Geode Capital Management LLC lifted its position in shares of Independence Realty Trust by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,857,943 shares of the real estate investment trust's stock valued at $120,108,000 after acquiring an additional 50,788 shares during the period. Finally, M&T Bank Corp grew its holdings in shares of Independence Realty Trust by 21.5% during the 3rd quarter. M&T Bank Corp now owns 42,364 shares of the real estate investment trust's stock worth $868,000 after purchasing an additional 7,492 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company's stock.
A number of research firms recently commented on IRT. 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. JMP Securities boosted their target price on shares of 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. KeyCorp increased their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, Independence Realty Trust has an average rating of "Moderate Buy" and a consensus price target of $20.43.
Check Out Our Latest Report on Independence Realty Trust
Shares of NYSE:IRT opened at $21.54 on Tuesday. Independence Realty Trust, Inc. has a one year low of $14.07 and a one year high of $22.26. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 79.78, a PEG ratio of 3.07 and a beta of 1.19. The firm has a 50 day simple moving average of $20.56 and a 200 day simple moving average of $19.72.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.97%. Independence Realty Trust's payout ratio is 237.04%.
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.
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