Jennison Associates LLC Has $121.81 Million Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Jennison Associates LLC boosted its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 4.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,139,652 shares of the real estate investment trust’s stock after purchasing an additional 278,959 shares during the quarter. Jennison Associates LLC owned 2.73% of Independence Realty Trust worth $121,811,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Independence Realty Trust by 0.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,984 shares of the real estate investment trust’s stock valued at $2,050,000 after acquiring an additional 526 shares during the last quarter. Blue Trust Inc. increased its position in Independence Realty Trust by 33.9% in the 4th quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 692 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of Independence Realty Trust by 20.5% during the fourth quarter. Sound Income Strategies LLC now owns 4,295 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 732 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Independence Realty Trust by 1.3% in the third quarter. Handelsbanken Fonder AB now owns 69,961 shares of the real estate investment trust’s stock worth $1,434,000 after purchasing an additional 900 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Independence Realty Trust by 0.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 281,800 shares of the real estate investment trust’s stock worth $5,777,000 after purchasing an additional 900 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Shares of Independence Realty Trust stock opened at $19.20 on Tuesday. The stock’s 50-day moving average is $20.08 and its 200 day moving average is $20.02. Independence Realty Trust, Inc. has a one year low of $14.07 and a one year high of $22.26. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.68 and a beta of 1.21.

Independence Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Tuesday, December 31st.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $19.00 to $21.00 in a report on Friday, November 15th. Barclays cut their price objective on Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Independence Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.86.

Independence Realty Trust Profile

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.