TD Asset Management Inc purchased a new position in Independence Realty Trust, Inc. (NYSE:IRT – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 120,548 shares of the real estate investment trust’s stock, valued at approximately $2,032,000. TD Asset Management Inc owned approximately 0.05% of Independence Realty Trust as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Harbor Investment Advisory LLC lifted its stake in Independence Realty Trust by 132.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 3,894 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 2,220 shares in the last quarter. Armstrong Advisory Group Inc. bought a new stake in shares of Independence Realty Trust in the 4th quarter worth about $86,000. EWG Elevate Inc. bought a new stake in shares of Independence Realty Trust in the 4th quarter worth about $95,000. Point72 Hong Kong Ltd increased its holdings in shares of Independence Realty Trust by 32.6% in the 3rd quarter. Point72 Hong Kong Ltd now owns 6,966 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 1,712 shares during the last quarter. Finally, Wipfli Financial Advisors LLC bought a new stake in shares of Independence Realty Trust in the 3rd quarter worth about $119,000. Hedge funds and other institutional investors own 81.01% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on IRT shares. StockNews.com upgraded shares of Independence Realty Trust to a “sell” rating in a report on Friday. JMP Securities upgraded shares of Independence Realty Trust from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a report on Monday. Citigroup upped their price target on shares of Independence Realty Trust from $18.50 to $20.00 and gave the company a “neutral” rating in a report on Thursday, February 23rd. BTIG Research cut their price target on shares of Independence Realty Trust from $27.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, January 11th. Finally, Barclays upped their price target on shares of Independence Realty Trust from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, March 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Independence Realty Trust has a consensus rating of “Hold” and a consensus price target of $20.72.
Independence Realty Trust Stock Up 0.7 %
Independence Realty Trust Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 21st. Investors of record on Friday, March 31st were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Thursday, March 30th. Independence Realty Trust’s payout ratio is 243.49%.
Independence Realty Trust Company Profile
Independence Realty Trust, Inc is a real estate investment trust, which acquires, owns, operates, improves and manages multifamily apartment communities across non-gateway U.S. markets. It aims to provide stockholders risk-adjusted returns through diligent portfolio management, operational performance and consistent return of capital through distributions and capital appreciation.
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