Pacer Advisors Inc. boosted its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT – Free Report) by 490.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,629 shares of the real estate investment trust’s stock after acquiring an additional 38,729 shares during the quarter. Pacer Advisors Inc.’s holdings in Independence Realty Trust were worth $850,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in Independence Realty Trust by 2.2% during the first quarter. BlackRock Inc. now owns 31,818,386 shares of the real estate investment trust’s stock worth $510,049,000 after purchasing an additional 689,039 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Independence Realty Trust by 98.9% in the first quarter. Vanguard Group Inc. now owns 24,329,328 shares of the real estate investment trust’s stock valued at $643,267,000 after purchasing an additional 12,099,993 shares in the last quarter. State Street Corp grew its position in shares of Independence Realty Trust by 2.8% in the first quarter. State Street Corp now owns 13,744,998 shares of the real estate investment trust’s stock valued at $222,218,000 after purchasing an additional 376,694 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Independence Realty Trust by 11.4% during the 1st quarter. Macquarie Group Ltd. now owns 9,772,936 shares of the real estate investment trust’s stock worth $156,661,000 after purchasing an additional 1,002,800 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Independence Realty Trust by 1.4% during the 1st quarter. Wellington Management Group LLP now owns 7,494,895 shares of the real estate investment trust’s stock worth $198,165,000 after purchasing an additional 101,479 shares during the last quarter. Hedge funds and other institutional investors own 85.45% of the company’s stock.
Independence Realty Trust Stock Performance
IRT opened at $14.06 on Friday. Independence Realty Trust, Inc. has a 1 year low of $13.89 and a 1 year high of $19.68. The company’s 50 day simple moving average is $16.17 and its 200 day simple moving average is $16.71. The stock has a market capitalization of $3.16 billion, a PE ratio of 45.35, a P/E/G ratio of 6.23 and a beta of 0.99.
Independence Realty Trust Dividend Announcement
Analyst Ratings Changes
A number of brokerages have commented on IRT. BMO Capital Markets cut Independence Realty Trust from an “outperform” rating to a “market perform” rating and set a $19.00 target price on the stock. in a report on Tuesday, July 18th. StockNews.com began coverage on Independence Realty Trust in a research note on Thursday, August 17th. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.89.
View Our Latest Stock Analysis on IRT
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.
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