251,804 Shares in Independence Realty Trust, Inc. (NYSE:IRT) Purchased by Eagle Asset Management Inc.

Eagle Asset Management Inc. acquired a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 251,804 shares of the real estate investment trust’s stock, valued at approximately $5,263,000. Eagle Asset Management Inc. owned about 0.11% of Independence Realty Trust at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bayesian Capital Management LP acquired a new stake in shares of Independence Realty Trust during the 1st quarter worth about $499,000. Boston Partners acquired a new position in Independence Realty Trust in the 1st quarter valued at about $892,000. Hilton Capital Management LLC acquired a new position in Independence Realty Trust in the 3rd quarter valued at about $7,573,000. Cetera Advisors LLC grew its position in Independence Realty Trust by 132.9% in the 1st quarter. Cetera Advisors LLC now owns 241,924 shares of the real estate investment trust’s stock valued at $3,902,000 after acquiring an additional 138,028 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in Independence Realty Trust by 169.3% in the 1st quarter. Cetera Investment Advisers now owns 409,724 shares of the real estate investment trust’s stock valued at $6,609,000 after acquiring an additional 257,555 shares in the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Stock Performance

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

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.94%. The ex-dividend date was Monday, September 30th.

Analyst Ratings Changes

Several equities analysts have weighed in on IRT shares. KeyCorp lifted their target price on Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. BMO Capital Markets upgraded Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $19.00 to $21.00 in a research note on Friday, November 15th. JMP Securities lifted their price objective on 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. BTIG Research lifted their price objective on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.43.

Independence Realty Trust 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.