Independence Realty Trust, Inc. (NYSE:IRT) Stock Position Increased by Van ECK Associates Corp

Van ECK Associates Corp boosted its position in Independence Realty Trust, Inc. (NYSE:IRT) by 12.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,839 shares of the real estate investment trust’s stock after purchasing an additional 4,263 shares during the quarter. Van ECK Associates Corp’s holdings in Independence Realty Trust were worth $773,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new position in Independence Realty Trust during the 2nd quarter valued at about $25,000. V Square Quantitative Management LLC acquired a new position in Independence Realty Trust during the 3rd quarter valued at about $28,000. Mattson Financial Services LLC acquired a new position in Independence Realty Trust during the 2nd quarter valued at about $28,000. Pathway Financial Advisers LLC acquired a new position in Independence Realty Trust during the 1st quarter valued at about $31,000. Finally, Blue Trust Inc. increased its stake in Independence Realty Trust by 295.9% during the 3rd quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 1,527 shares during the period. 88.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on IRT shares. Deutsche Bank Aktiengesellschaft raised their target price 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. JMP Securities lifted their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Monday, September 9th. BTIG Research lifted their price objective on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, KeyCorp lifted their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.57.

Independence Realty Trust Price Performance

Shares of IRT opened at $21.10 on Tuesday. Independence Realty Trust, Inc. has a one year low of $12.50 and a one year high of $21.23. The company has a 50-day moving average of $20.08 and a two-hundred day moving average of $18.83. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 2.99 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. Shareholders of record on Monday, September 30th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Monday, September 30th.

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.