Allspring Global Investments Holdings LLC Decreases Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 3.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,866 shares of the real estate investment trust’s stock after selling 1,389 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Independence Realty Trust were worth $694,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IRT. Vanguard Group Inc. raised its holdings in shares of Independence Realty Trust by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 32,744,270 shares of the real estate investment trust’s stock worth $528,165,000 after purchasing an additional 343,334 shares in the last quarter. Long Pond Capital LP boosted its position in shares of Independence Realty Trust by 204.7% in the first quarter. Long Pond Capital LP now owns 10,414,483 shares of the real estate investment trust’s stock worth $167,986,000 after buying an additional 6,996,365 shares during the period. Jennison Associates LLC lifted its stake in Independence Realty Trust by 7.3% in the 1st quarter. Jennison Associates LLC now owns 4,429,594 shares of the real estate investment trust’s stock worth $71,449,000 after acquiring an additional 300,281 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Independence Realty Trust by 5.6% in 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 acquiring an additional 176,119 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake 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 worth $46,254,000 after acquiring an additional 68,117 shares in the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Price Performance

Shares of NYSE:IRT opened at $19.06 on Friday. The company’s 50 day simple moving average is $20.11 and its 200 day simple moving average is $18.63. Independence Realty Trust, Inc. has a 1 year low of $12.50 and a 1 year high of $21.20. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 2.88 and a beta of 1.17.

Independence Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were issued a $0.16 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 3.36%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. BTIG Research raised their price target on Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. 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. JMP Securities lifted their price objective 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, Deutsche Bank Aktiengesellschaft lifted their price objective on Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat, Independence Realty Trust has an average rating of “Moderate Buy” and an average target price of $19.57.

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.