Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 5.6% in the third quarter, HoldingsChannel reports. The firm owned 327,195 shares of the real estate investment trust’s stock after selling 19,290 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Independence Realty Trust were worth $6,707,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Independence Realty Trust during the second quarter worth about $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Independence Realty Trust during the third quarter worth about $28,000. Mattson Financial Services LLC acquired a new stake in shares of Independence Realty Trust during the second quarter worth about $28,000. Pathway Financial Advisers LLC acquired a new stake in shares of Independence Realty Trust during the first quarter worth about $31,000. Finally, Assetmark Inc. acquired a new position in Independence Realty Trust in the third quarter valued at approximately $41,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Independence Realty Trust stock opened at $21.10 on Tuesday. Independence Realty Trust, Inc. has a 12 month low of $12.50 and a 12 month high of $21.23. The stock has a market capitalization of $4.75 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The business has a 50 day simple moving average of $20.08 and a 200-day simple moving average of $18.83.

Independence Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Monday, September 30th.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. BTIG Research boosted their price target on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft boosted their price target on Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. JMP Securities boosted their price target on Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Monday, September 9th. Finally, KeyCorp boosted their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat, Independence Realty Trust presently has a consensus rating of “Moderate Buy” and an average target price of $19.57.

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.