American International Group Inc. Has $6.33 Million Stake in Independence Realty Trust, Inc. (NYSE:IRT)

American International Group Inc. lowered its stake in shares of Independence Realty Trust, Inc. (NYSE:IRTFree Report) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 413,926 shares of the real estate investment trust’s stock after selling 13,054 shares during the quarter. American International Group Inc. owned about 0.18% of Independence Realty Trust worth $6,333,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in IRT. Swiss National Bank raised its stake in Independence Realty Trust by 1.0% in the third quarter. Swiss National Bank now owns 493,700 shares of the real estate investment trust’s stock valued at $6,946,000 after purchasing an additional 5,100 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Independence Realty Trust by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,044,923 shares of the real estate investment trust’s stock valued at $42,842,000 after acquiring an additional 46,841 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in Independence Realty Trust by 1.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 485,383 shares of the real estate investment trust’s stock valued at $6,829,000 after purchasing an additional 7,805 shares in the last quarter. Rhumbline Advisers boosted its stake in Independence Realty Trust by 0.6% in the third quarter. Rhumbline Advisers now owns 829,518 shares of the real estate investment trust’s stock valued at $11,671,000 after buying an additional 4,649 shares in the last quarter. Finally, Clearstead Advisors LLC bought a new position in Independence Realty Trust in the third quarter valued at about $85,000. Institutional investors own 88.25% of the company’s stock.

Wall Street Analysts Forecast Growth

IRT has been the subject of a number of research reports. TheStreet cut shares of Independence Realty Trust from a “c” rating to a “d+” rating in a report on Friday, March 1st. JMP Securities boosted their target price on shares of Independence Realty Trust from $15.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Wednesday, March 6th. Royal Bank of Canada increased their price target on Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Finally, Barclays reduced their price objective on Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, Independence Realty Trust presently has an average rating of “Hold” and an average target price of $17.00.

Check Out Our Latest Analysis on IRT

Independence Realty Trust Stock Performance

IRT stock opened at $17.71 on Tuesday. The company has a market capitalization of $3.99 billion, a P/E ratio of -589.97, a PEG ratio of 2.54 and a beta of 1.12. The company has a fifty day moving average price of $16.37 and a 200-day moving average price of $15.57. Independence Realty Trust, Inc. has a 52-week low of $11.61 and a 52-week high of $18.77.

Independence Realty Trust Company Profile

(Free Report)

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.

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

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