Makena Capital Management LLC Has $10.71 Million Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Makena Capital Management LLC trimmed its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 2.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 522,320 shares of the real estate investment trust’s stock after selling 13,377 shares during the period. Independence Realty Trust accounts for approximately 2.6% of Makena Capital Management LLC’s investment portfolio, making the stock its 17th biggest holding. Makena Capital Management LLC’s holdings in Independence Realty Trust were worth $10,708,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in IRT. Taylor Frigon Capital Management LLC lifted its stake in Independence Realty Trust by 0.7% in the second quarter. Taylor Frigon Capital Management LLC now owns 79,217 shares of the real estate investment trust’s stock valued at $1,485,000 after acquiring an additional 571 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Independence Realty Trust by 1.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 69,961 shares of the real estate investment trust’s stock valued at $1,434,000 after purchasing an additional 900 shares during the last quarter. Arizona State Retirement System boosted its holdings in Independence Realty Trust by 2.0% in the second quarter. Arizona State Retirement System now owns 63,011 shares of the real estate investment trust’s stock worth $1,181,000 after purchasing an additional 1,255 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Independence Realty Trust during the second quarter worth $25,000. Finally, V Square Quantitative Management LLC bought a new position in Independence Realty Trust during the third quarter valued at about $28,000. Institutional investors own 88.25% of the company’s stock.

Analysts Set New Price Targets

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

Independence Realty Trust Trading Down 0.0 %

Shares of IRT stock opened at $21.35 on Thursday. Independence Realty Trust, Inc. has a 12 month low of $13.11 and a 12 month high of $21.49. The company has a market capitalization of $4.81 billion, a P/E ratio of 18.74, a P/E/G ratio of 3.06 and a beta of 1.17. The stock has a 50 day moving average of $20.21 and a two-hundred day moving average of $19.10.

Independence Realty Trust Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Monday, September 30th.

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.