Barclays PLC Acquires 258,549 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Barclays PLC raised its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 182.3% during the third quarter, HoldingsChannel.com reports. The fund owned 400,376 shares of the real estate investment trust’s stock after purchasing an additional 258,549 shares during the quarter. Barclays PLC’s holdings in Independence Realty Trust were worth $8,208,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new stake in Independence Realty Trust in the 2nd quarter worth approximately $25,000. Mattson Financial Services LLC bought a new stake in Independence Realty Trust in the second quarter worth $28,000. V Square Quantitative Management LLC bought a new stake in Independence Realty Trust in the third quarter worth $28,000. Blue Trust Inc. raised its stake in Independence Realty Trust by 295.9% during the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,527 shares in the last quarter. Finally, Assetmark Inc. bought a new position in Independence Realty Trust during the third quarter valued at $41,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Down 1.7 %

IRT stock opened at $21.18 on Wednesday. Independence Realty Trust, Inc. has a twelve month low of $14.07 and a twelve month high of $22.26. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 78.44, a PEG ratio of 3.07 and a beta of 1.19. The business’s fifty day simple moving average is $20.60 and its two-hundred day simple moving average is $19.76.

Independence Realty Trust Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IRT. BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and upped their target price for the company from $19.00 to $21.00 in a research report on Friday, November 15th. Barclays assumed coverage on Independence Realty Trust in a research note on Tuesday. They issued an “equal weight” rating and a $23.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their target price on Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. KeyCorp raised their price target on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, JMP Securities boosted their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a research report on Monday, September 9th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.