UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Independence Realty Trust, Inc. (NYSE:IRT) by 419.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,433,058 shares of the real estate investment trust’s stock after purchasing an additional 1,157,052 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Independence Realty Trust were worth $29,378,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new position in shares of Independence Realty Trust during the 2nd quarter valued at about $25,000. Mattson Financial Services LLC bought a new stake in Independence Realty Trust during the 2nd quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new stake in Independence Realty Trust during the 3rd quarter worth approximately $28,000. Blue Trust Inc. lifted its holdings in Independence Realty Trust by 295.9% during the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,527 shares in the last quarter. Finally, Assetmark Inc. bought a new position in shares of Independence Realty Trust in the third quarter worth approximately $41,000. 88.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. JMP Securities raised their price objective 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. Deutsche Bank Aktiengesellschaft upped their price objective on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. BTIG Research lifted their target price on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, August 12th. KeyCorp boosted their price target on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $19.00 to $21.00 in a report on Friday, November 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.43.

Independence Realty Trust Price Performance

NYSE IRT opened at $21.23 on Thursday. The stock has a market capitalization of $4.78 billion, a PE ratio of 18.84, a P/E/G ratio of 3.07 and a beta of 1.19. The business has a 50 day simple moving average of $20.35 and a two-hundred day simple moving average of $19.43. Independence Realty Trust, Inc. has a 1-year low of $13.95 and a 1-year high of $22.26.

Independence Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.01%. The ex-dividend date was Monday, September 30th.

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.