Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 2.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,592 shares of the real estate investment trust’s stock after selling 2,280 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Independence Realty Trust were worth $1,591,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted 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 valued at $82,573,000 after acquiring an additional 2,829,247 shares during the period. Wellington Management Group LLP boosted its stake in Independence Realty Trust by 24.4% during the 3rd 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 purchasing an additional 2,225,371 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Independence Realty Trust by 419.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,433,058 shares of the real estate investment trust’s stock worth $29,378,000 after purchasing an additional 1,157,052 shares during the last quarter. B&I Capital AG bought a new position in Independence Realty Trust in the 2nd quarter worth about $10,900,000. Finally, Easterly Investment Partners LLC acquired a new stake in shares of Independence Realty Trust in the third quarter valued at approximately $11,132,000. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Price Performance

NYSE IRT opened at $21.18 on Wednesday. The company has a market capitalization of $4.77 billion, a P/E ratio of 78.44, a PEG ratio of 3.07 and a beta of 1.19. Independence Realty Trust, Inc. has a 12 month low of $14.07 and a 12 month high of $22.26. The company’s 50 day simple moving average is $20.60 and its 200 day simple moving average is $19.76.

Independence Realty Trust Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on IRT shares. KeyCorp increased their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $19.00 to $21.00 in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Barclays initiated coverage on shares of Independence Realty Trust in a research report on Tuesday. They issued an “equal weight” rating and a $23.00 target price for the company. Finally, JMP Securities boosted their price target 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.