Metis Global Partners LLC Grows Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Metis Global Partners LLC boosted its position in Independence Realty Trust, Inc. (NYSE:IRT) by 29.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,138 shares of the real estate investment trust’s stock after buying an additional 5,298 shares during the period. Metis Global Partners LLC’s holdings in Independence Realty Trust were worth $474,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IRT. Long Pond Capital LP boosted its holdings 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 valued at $167,986,000 after acquiring an additional 6,996,365 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Independence Realty Trust in the 2nd quarter valued at approximately $22,464,000. B&I Capital AG acquired a new position in Independence Realty Trust during the 2nd quarter worth approximately $10,900,000. Easterly Investment Partners LLC acquired a new stake in shares of Independence Realty Trust in the 3rd quarter valued at approximately $11,132,000. Finally, Makena Capital Management LLC purchased a new stake in shares of Independence Realty Trust in the second quarter valued at approximately $10,039,000. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Trading Up 1.2 %

NYSE:IRT opened at $21.25 on Tuesday. Independence Realty Trust, Inc. has a twelve month low of $12.99 and a twelve month high of $21.29. The company has a market capitalization of $4.78 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 3.00 and a beta of 1.17. The firm has a 50-day moving average price of $20.17 and a two-hundred day moving average price of $19.05.

Independence Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.64 annualized dividend and a dividend yield of 3.01%.

Analyst Ratings Changes

Several research analysts have issued reports on IRT shares. BTIG Research increased their price objective on Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. KeyCorp increased their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. JMP Securities increased 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 report on Monday, September 9th. Finally, BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $19.00 to $21.00 in a research report on Friday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.43.

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.