Fisher Asset Management LLC Lowers Position in Independence Realty Trust, Inc. (NYSE:IRT)

Fisher Asset Management LLC reduced its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,985,942 shares of the real estate investment trust’s stock after selling 5,197 shares during the period. Fisher Asset Management LLC owned approximately 0.88% of Independence Realty Trust worth $40,712,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Daiwa Securities Group Inc. raised its stake in shares of Independence Realty Trust by 6.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 74,996 shares of the real estate investment trust’s stock valued at $1,537,000 after acquiring an additional 4,782 shares during the period. Algert Global LLC increased its holdings in Independence Realty Trust by 417.2% in the 3rd quarter. Algert Global LLC now owns 163,343 shares of the real estate investment trust’s stock valued at $3,349,000 after purchasing an additional 131,760 shares during the last quarter. Citigroup Inc. raised its position in Independence Realty Trust by 81.2% in the third quarter. Citigroup Inc. now owns 346,197 shares of the real estate investment trust’s stock valued at $7,097,000 after purchasing an additional 155,179 shares during the period. AlphaCore Capital LLC lifted its stake in Independence Realty Trust by 14.9% during the third quarter. AlphaCore Capital LLC now owns 80,697 shares of the real estate investment trust’s stock worth $1,667,000 after purchasing an additional 10,494 shares in the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in shares of Independence Realty Trust during the third quarter worth $5,263,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IRT. BTIG Research boosted their price objective on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, August 12th. KeyCorp raised their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. JMP Securities upped their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $19.00 to $21.00 in a research report on Friday, November 15th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.43.

Independence Realty Trust Trading Down 0.0 %

Shares of IRT opened at $21.73 on Wednesday. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 3.11 and a beta of 1.17. The firm’s fifty day simple moving average is $20.27 and its 200-day simple moving average is $19.26. Independence Realty Trust, Inc. has a twelve month low of $13.24 and a twelve month high of $22.26.

Independence Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Monday, September 30th.

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.