Independence Realty Trust, Inc. (NYSE:IRT) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 7.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 523,265 shares of the real estate investment trust’s stock after purchasing an additional 37,882 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Independence Realty Trust were worth $8,006,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Peregrine Capital Management LLC acquired a new position in Independence Realty Trust during the 4th quarter valued at about $7,728,000. Aurora Investment Managers LLC. boosted its stake in Independence Realty Trust by 62.8% during the 4th quarter. Aurora Investment Managers LLC. now owns 33,382 shares of the real estate investment trust’s stock valued at $511,000 after purchasing an additional 12,876 shares during the period. Jennison Associates LLC lifted its stake in shares of Independence Realty Trust by 2.4% in the 3rd quarter. Jennison Associates LLC now owns 3,187,637 shares of the real estate investment trust’s stock worth $44,850,000 after acquiring an additional 75,700 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Independence Realty Trust by 27.7% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 170,844 shares of the real estate investment trust’s stock worth $2,404,000 after acquiring an additional 37,034 shares during the period. Finally, Sound Income Strategies LLC lifted its stake in shares of Independence Realty Trust by 36.1% in the 4th quarter. Sound Income Strategies LLC now owns 4,850 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 1,287 shares during the period. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Stock Up 1.2 %

Shares of IRT stock traded up $0.19 during trading hours on Friday, reaching $15.85. 1,768,704 shares of the stock traded hands, compared to its average volume of 2,309,607. Independence Realty Trust, Inc. has a 1-year low of $11.61 and a 1-year high of $18.77. The business has a fifty day moving average price of $15.66 and a 200 day moving average price of $14.77.

Independence Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, March 29th were issued a dividend of $0.16 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.04%. Independence Realty Trust’s dividend payout ratio is currently -2,132.62%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on IRT shares. TheStreet lowered shares of Independence Realty Trust from a “c” rating to a “d+” rating in a research note on Friday, March 1st. JMP Securities upped their price target 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. Barclays reduced their price target on shares of Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of Independence Realty Trust in a research note on Tuesday, January 30th. They set a “buy” rating and a $18.00 target price for the company. Finally, Royal Bank of Canada increased their target price on shares of Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.00.

Independence Realty Trust Company Profile

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.