Independence Realty Trust, Inc. Shares (NYSE:IRT) bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its stake in Independence Realty Trust, Inc. (NYSE:IRT – Free Report) by 1.6% during the second quarter, Holdings Channel.com reports. The fund owned 115,090 shares of the real estate investment trust’s stock after buying an additional 1,866 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Independence Realty Trust were worth $2,176,000 as of its most recent SEC filing.

Several other hedge funds have recently added to or reduced their stakes in IRT. Pathway Financial Advisers LLC purchased a new position in Independence Realty Trust in the first quarter worth $31,000. Lazard Asset Management LLC purchased a new position in shares of Independence Realty Trust in the first quarter valued at about $40,000. Advisors Asset Management Inc. boosted its holdings in shares of Independence Realty Trust by 146.6% in the first quarter. Advisors Asset Management Inc. now owns 2,833 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,684 shares during the period. EdgeRock Capital LLC acquired a new position in shares of Independence Realty Trust in the 4th quarter valued at about $60,000. Finally, Lindbrook Capital LLC boosted its holdings in shares of Independence Realty Trust by 19.8% in the 4th quarter. Lindbrook Capital LLC now owns 6,379 shares of the real estate investment trust’s stock, valued at $98,000 after bought an additional 1,054 shares during the period. 88.25% of shares are owned by institutional investors and hedge funds.

Independence Realty Trust stock rose 0.8%

Shares of Independence Realty Trust stock opened at $19.74 on Thursday. The firm has a 50 day moving average price of $18.87 and a two hundred day moving average price of $16.98. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of -658.00, a PEG ratio of 2.81 and a beta of 1.14. Independence Realty Trust, Inc. it has a 52 week low of $11.61 and a 52 week high of $20.08.

Independence Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, June 28th were paid a dividend of $0.16 per share. This represents a dividend of $0.64 on an annualized basis and a yield of 3.24%. The ex-dividend date was Friday, June 28. Independence Realty Trust’s payout ratio is -2,133.33%.

The Wall Street analyst weighs in

Several research analysts recently commented on the stock. BTIG Research raised their target price on shares of Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, August 12th. JMP Securities lifted their target price on shares of Independence Realty Trust from $17.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.17.

Get the latest research report on Independence Realty Trust

Independence Realty Trust Profile

(Free Report)

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities in non-gateway markets across the US, 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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Want to see what other hedge funds hold IRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Independence Realty Trust, Inc. (NYSE:IRT – Free Report).

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