Independence Realty Trust, Inc. (NYSE:IRT) is Ranger Global Real Estate Advisors LLC’s 2nd Largest Position

Ranger Global Real Estate Advisors LLC boosted its stake in Independence Realty Trust, Inc. (NYSE:IRTFree Report) by 15.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,539,156 shares of the real estate investment trust’s stock after buying an additional 461,572 shares during the period. Independence Realty Trust accounts for 7.5% of Ranger Global Real Estate Advisors LLC’s portfolio, making the stock its 2nd biggest holding. Ranger Global Real Estate Advisors LLC’s holdings in Independence Realty Trust were worth $49,796,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Independence Realty Trust by 9.8% in the 2nd quarter. BlackRock Inc. now owns 34,920,804 shares of the real estate investment trust’s stock valued at $636,257,000 after acquiring an additional 3,102,418 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Independence Realty Trust by 98.9% in the 1st quarter. Vanguard Group Inc. now owns 24,329,328 shares of the real estate investment trust’s stock valued at $643,267,000 after acquiring an additional 12,099,993 shares during the last quarter. State Street Corp lifted its holdings in Independence Realty Trust by 2.8% in the 1st quarter. State Street Corp now owns 13,744,998 shares of the real estate investment trust’s stock valued at $222,218,000 after acquiring an additional 376,694 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in Independence Realty Trust by 11.4% in the 1st quarter. Macquarie Group Ltd. now owns 9,772,936 shares of the real estate investment trust’s stock valued at $156,661,000 after acquiring an additional 1,002,800 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Independence Realty Trust by 1.4% during the first quarter. Wellington Management Group LLP now owns 7,494,895 shares of the real estate investment trust’s stock valued at $198,165,000 after buying an additional 101,479 shares in the last quarter. Institutional investors own 85.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft started coverage on Independence Realty Trust in a report on Tuesday, January 30th. They issued a “buy” rating and a $18.00 target price on the stock. JMP Securities dropped their price objective on Independence Realty Trust from $20.00 to $15.00 and set a “market outperform” rating on the stock in a report on Wednesday, November 1st. Barclays dropped their price objective on Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, February 20th. 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 report on Friday, February 16th. Finally, BMO Capital Markets reiterated an “underperform” rating and set a $15.00 price target (up previously from $14.00) on shares of Independence Realty Trust in a report on Friday, December 15th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $16.60.

Check Out Our Latest Report on IRT

Independence Realty Trust Price Performance

Shares of IRT traded up $0.07 on Wednesday, hitting $14.64. The company’s stock had a trading volume of 1,116,901 shares, compared to its average volume of 2,446,775. The firm’s fifty day moving average price is $15.11 and its 200-day moving average price is $14.70. Independence Realty Trust, Inc. has a fifty-two week low of $11.61 and a fifty-two week high of $18.77.

Independence Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, December 29th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend was Thursday, December 28th. Independence Realty Trust’s dividend payout ratio (DPR) is presently -914.16%.

Independence Realty Trust 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.

See Also

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

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