Independence Realty Trust, Inc. (NYSE:IRT) Stake Lowered by Bard Associates Inc.

Bard Associates Inc. lessened its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 0.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 134,036 shares of the real estate investment trust’s stock after selling 1,000 shares during the quarter. Bard Associates Inc.’s holdings in Independence Realty Trust were worth $2,768,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Independence Realty Trust by 1.1% during the first quarter. Vanguard Group Inc. now owns 32,744,270 shares of the real estate investment trust’s stock worth $528,165,000 after acquiring an additional 343,334 shares in the last quarter. Long Pond Capital LP increased its stake in 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 during the period. Dimensional Fund Advisors LP raised its holdings in shares of 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 buying an additional 176,119 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Independence Realty Trust by 2.8% during 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 purchasing an additional 68,117 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in Independence Realty Trust in the second quarter worth $22,464,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Down 0.3 %

Shares of IRT stock opened at $20.85 on Friday. Independence Realty Trust, Inc. has a twelve month low of $12.99 and a twelve month high of $21.23. The business’s fifty day moving average is $20.10 and its 200 day moving average is $18.92. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 2.99 and a beta of 1.17.

Independence Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Monday, September 30th.

Analysts Set New Price Targets

A number of equities research analysts recently commented on IRT shares. KeyCorp lifted their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. JMP Securities raised 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 research note on Monday, September 9th. BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $19.00 to $21.00 in a report on Friday. Deutsche Bank Aktiengesellschaft raised their price target on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, BTIG Research boosted their target price 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently 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.