Mesirow Institutional Investment Management Inc. Increases Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Mesirow Institutional Investment Management Inc. boosted its position in Independence Realty Trust, Inc. (NYSE:IRT) by 47.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 810,250 shares of the real estate investment trust’s stock after buying an additional 260,502 shares during the period. Independence Realty Trust makes up approximately 1.3% of Mesirow Institutional Investment Management Inc.’s investment portfolio, making the stock its 20th largest holding. Mesirow Institutional Investment Management Inc.’s holdings in Independence Realty Trust were worth $15,184,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of IRT. International Assets Investment Management LLC acquired a new stake in Independence Realty Trust during the 4th quarter valued at approximately $2,230,000. Retirement Systems of Alabama lifted its position in Independence Realty Trust by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 281,438 shares of the real estate investment trust’s stock valued at $4,306,000 after purchasing an additional 1,232 shares during the period. Van ECK Associates Corp boosted its holdings in Independence Realty Trust by 19.7% in the fourth quarter. Van ECK Associates Corp now owns 31,627 shares of the real estate investment trust’s stock valued at $484,000 after purchasing an additional 5,200 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Independence Realty Trust by 26.2% in the fourth quarter. Victory Capital Management Inc. now owns 151,112 shares of the real estate investment trust’s stock valued at $2,312,000 after purchasing an additional 31,339 shares during the last quarter. Finally, New York Life Investment Management LLC acquired a new stake in Independence Realty Trust during the 4th quarter worth about $506,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. BTIG Research upped their target price on Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. JMP Securities boosted their price target on Independence Realty Trust from $17.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.17.

Independence Realty Trust Stock Down 0.5 %

Shares of Independence Realty Trust stock opened at $20.68 on Wednesday. The firm has a market cap of $4.65 billion, a PE ratio of -689.33, a P/E/G ratio of 3.05 and a beta of 1.14. Independence Realty Trust, Inc. has a twelve month low of $11.61 and a twelve month high of $20.86. The business has a 50-day moving average price of $19.29 and a 200 day moving average price of $17.35.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, June 28th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, June 28th. Independence Realty Trust’s dividend payout ratio (DPR) is presently -2,133.33%.

Independence Realty Trust 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.