110,000 Shares in Independence Realty Trust, Inc. (NYSE:IRT) Purchased by Employees Retirement System of Texas

Employees Retirement System of Texas bought a new stake in Independence Realty Trust, Inc. (NYSE:IRT) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 110,000 shares of the real estate investment trust’s stock, valued at approximately $2,061,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. APG Asset Management US Inc. acquired a new position in Independence Realty Trust during the second quarter valued at approximately $9,395,000. AQR Capital Management LLC raised its stake in Independence Realty Trust by 23.6% during the second quarter. AQR Capital Management LLC now owns 31,702 shares of the real estate investment trust’s stock worth $585,000 after acquiring an additional 6,049 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Independence Realty Trust by 23.4% in the second quarter. Squarepoint Ops LLC now owns 26,249 shares of the real estate investment trust’s stock worth $492,000 after acquiring an additional 4,984 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Independence Realty Trust by 241.3% in the 2nd quarter. Sei Investments Co. now owns 735,304 shares of the real estate investment trust’s stock valued at $13,780,000 after purchasing an additional 519,841 shares in the last quarter. Finally, AE Wealth Management LLC grew its holdings in shares of Independence Realty Trust by 44.6% during the 2nd quarter. AE Wealth Management LLC now owns 31,621 shares of the real estate investment trust’s stock valued at $593,000 after purchasing an additional 9,754 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. 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 report on Monday, September 9th. KeyCorp boosted their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. BTIG Research increased their target price on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft upped 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. Two analysts have rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.57.

Independence Realty Trust Trading Down 1.2 %

Shares of IRT opened at $20.52 on Friday. The firm’s fifty day simple moving average is $19.90 and its two-hundred day simple moving average is $17.93. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $21.20. The stock has a market capitalization of $4.62 billion, a P/E ratio of -684.00, a price-to-earnings-growth ratio of 3.10 and a beta of 1.17.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.16 per share. The ex-dividend date is Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 3.12%. Independence Realty Trust’s payout ratio is -2,133.33%.

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.