Swiss National Bank Reduces Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Swiss National Bank decreased its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 439,400 shares of the real estate investment trust’s stock after selling 3,400 shares during the quarter. Swiss National Bank owned 0.20% of Independence Realty Trust worth $9,008,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of IRT. Dimensional Fund Advisors LP boosted its position in Independence Realty Trust by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,308,557 shares of the real estate investment trust’s stock worth $62,001,000 after purchasing an additional 176,119 shares in the last quarter. Bank of New York Mellon Corp grew 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 valued at $46,254,000 after acquiring an additional 68,117 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Independence Realty Trust during the 2nd quarter valued at about $22,464,000. Rhumbline Advisers raised its position in Independence Realty Trust by 0.4% during the second quarter. Rhumbline Advisers now owns 830,967 shares of the real estate investment trust’s stock worth $15,572,000 after acquiring an additional 2,975 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. lifted its holdings in shares of Independence Realty Trust by 47.4% in the second quarter. Mesirow Institutional Investment Management Inc. now owns 810,250 shares of the real estate investment trust’s stock valued at $15,184,000 after purchasing an additional 260,502 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Wall Street Analysts Forecast Growth

IRT has been the subject of several research reports. JMP Securities lifted their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Monday, September 9th. BTIG Research lifted 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. KeyCorp lifted their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $19.00 to $21.00 in a research note on Friday, November 15th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.43.

Independence Realty Trust Stock Up 1.3 %

IRT stock opened at $21.75 on Monday. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 3.07 and a beta of 1.17. The business has a fifty day simple moving average of $20.24 and a 200-day simple moving average of $19.19. Independence Realty Trust, Inc. has a 52 week low of $13.24 and a 52 week high of $21.77.

Independence Realty Trust Dividend Announcement

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 $0.16 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.94%.

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.