13,018 Shares in Independence Realty Trust, Inc. (NYSE:IRT) Acquired by Virtu Financial LLC

Virtu Financial LLC acquired a new stake in Independence Realty Trust, Inc. (NYSE:IRT) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 13,018 shares of the real estate investment trust’s stock, valued at approximately $267,000.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Independence Realty Trust by 24.4% in the third quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust’s stock valued at $232,900,000 after acquiring an additional 2,225,371 shares during the period. Jennison Associates LLC grew its position in shares of Independence Realty Trust by 1.4% during the 3rd quarter. Jennison Associates LLC now owns 5,860,693 shares of the real estate investment trust’s stock worth $120,144,000 after purchasing an additional 83,030 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Independence Realty Trust by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,857,943 shares of the real estate investment trust’s stock worth $120,108,000 after purchasing an additional 50,788 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Independence Realty Trust by 236.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,027,943 shares of the real estate investment trust’s stock worth $82,573,000 after purchasing an additional 2,829,247 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Independence Realty Trust by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,500,696 shares of the real estate investment trust’s stock valued at $71,764,000 after buying an additional 137,464 shares in the last quarter. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Shares of Independence Realty Trust stock opened at $21.18 on Wednesday. The company’s 50 day moving average price is $20.60 and its two-hundred day moving average price is $19.76. The firm has a market capitalization of $4.77 billion, a P/E ratio of 78.44, a P/E/G ratio of 3.07 and a beta of 1.19. Independence Realty Trust, Inc. has a fifty-two week low of $14.07 and a fifty-two week high of $22.26.

Independence Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.64 dividend on an annualized basis and a yield of 3.02%. Independence Realty Trust’s dividend payout ratio is currently 237.04%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IRT. KeyCorp lifted their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 6th. JMP Securities upped their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Barclays began coverage on shares of Independence Realty Trust in a report on Tuesday. They set an “equal weight” rating and a $23.00 price target for the company. Finally, BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $19.00 to $21.00 in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.14.

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.