Van ECK Associates Corp Has $1.02 Million Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Van ECK Associates Corp grew its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRTGet Rating) by 204.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,176 shares of the real estate investment trust’s stock after purchasing an additional 41,069 shares during the period. Van ECK Associates Corp’s holdings in Independence Realty Trust were worth $1,023,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in IRT. Vanguard Group Inc. increased its holdings in shares of Independence Realty Trust by 98.9% during the first quarter. Vanguard Group Inc. now owns 24,329,328 shares of the real estate investment trust’s stock worth $643,267,000 after purchasing an additional 12,099,993 shares during the period. State Street Corp increased its holdings in shares of Independence Realty Trust by 121.7% during the first quarter. State Street Corp now owns 12,302,671 shares of the real estate investment trust’s stock worth $326,733,000 after purchasing an additional 6,753,959 shares during the period. Macquarie Group Ltd. increased its holdings in shares of Independence Realty Trust by 151.8% during the second quarter. Macquarie Group Ltd. now owns 5,042,952 shares of the real estate investment trust’s stock worth $104,585,000 after purchasing an additional 3,040,046 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Independence Realty Trust by 90.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,628,815 shares of the real estate investment trust’s stock worth $69,507,000 after purchasing an additional 1,248,876 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Independence Realty Trust by 78.7% during the 1st quarter. Northern Trust Corp now owns 2,730,023 shares of the real estate investment trust’s stock worth $72,182,000 after acquiring an additional 1,202,185 shares in the last quarter. 81.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays reduced their price target on shares of Independence Realty Trust from $28.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, November 10th. Jefferies Financial Group lowered shares of Independence Realty Trust from a “buy” rating to a “hold” rating and reduced their price target for the stock from $20.00 to $17.00 in a research report on Monday, January 2nd. BTIG Research reduced their price target on shares of Independence Realty Trust from $27.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, January 11th. KeyCorp reduced their price target on shares of Independence Realty Trust from $25.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 7th. Finally, Royal Bank of Canada reduced their price target on shares of Independence Realty Trust from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday, October 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.64.

Independence Realty Trust Price Performance

Shares of Independence Realty Trust stock opened at $17.76 on Monday. Independence Realty Trust, Inc. has a fifty-two week low of $15.04 and a fifty-two week high of $28.42. The firm has a market capitalization of $3.98 billion, a P/E ratio of 29.11, a P/E/G ratio of 7.64 and a beta of 0.95. The company’s 50 day moving average price is $17.31 and its two-hundred day moving average price is $18.49.

Independence Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 20th. Shareholders of record on Friday, December 30th will be given a $0.14 dividend. The ex-dividend date is Thursday, December 29th. This represents a $0.56 dividend on an annualized basis and a yield of 3.15%. Independence Realty Trust’s dividend payout ratio is currently 91.80%.

Insider Transactions at Independence Realty Trust

In other news, CEO Scott Schaeffer sold 155,830 shares of Independence Realty Trust stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $17.24, for a total transaction of $2,686,509.20. Following the transaction, the chief executive officer now owns 583,865 shares in the company, valued at $10,065,832.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.58% of the stock is owned by company insiders.

Independence Realty Trust Company Profile

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Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily apartment properties across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers.

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Institutional Ownership by Quarter for Independence Realty Trust (NYSE:IRT)

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