JPMorgan Chase & Co. Has $51.15 Million Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

JPMorgan Chase & Co. increased its position in Independence Realty Trust, Inc. (NYSE:IRT) by 38.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,495,118 shares of the real estate investment trust’s stock after acquiring an additional 686,630 shares during the quarter. JPMorgan Chase & Co.’s holdings in Independence Realty Trust were worth $51,150,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its position in Independence Realty Trust by 24.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 210,340 shares of the real estate investment trust’s stock valued at $3,942,000 after acquiring an additional 41,751 shares during the period. Van ECK Associates Corp raised its position in Independence Realty Trust by 6.8% during the 2nd quarter. Van ECK Associates Corp now owns 34,576 shares of the real estate investment trust’s stock worth $648,000 after purchasing an additional 2,209 shares during the last quarter. Natixis Advisors LLC acquired a new position in Independence Realty Trust during the 2nd quarter worth about $1,518,000. Rhumbline Advisers grew its position in shares of Independence Realty Trust by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 830,967 shares of the real estate investment trust’s stock valued at $15,572,000 after buying an additional 2,975 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in shares of Independence Realty Trust by 3.5% in the second quarter. TD Asset Management Inc now owns 182,520 shares of the real estate investment trust’s stock valued at $3,420,000 after buying an additional 6,174 shares during the period. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Trading Up 0.8 %

IRT opened at $19.92 on Friday. The company has a fifty day moving average price of $20.73 and a two-hundred day moving average price of $19.95. Independence Realty Trust, Inc. has a 1-year low of $14.07 and a 1-year high of $22.26. The company has a market cap of $4.48 billion, a P/E ratio of 76.62, a price-to-earnings-growth ratio of 3.07 and a beta of 1.21.

Independence Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Tuesday, December 31st. Independence Realty Trust’s dividend payout ratio (DPR) is currently 246.15%.

Analyst Ratings Changes

A number of equities analysts recently commented on IRT shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. 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. Barclays started coverage on shares of Independence Realty Trust in a research note on Tuesday, December 17th. They set an “equal weight” rating and a $23.00 target price for the company. Finally, JMP Securities upped their price target 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Independence Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.14.

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.