Bamco Inc. NY Sells 76,276 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Bamco Inc. NY cut its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 23.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 247,346 shares of the real estate investment trust’s stock after selling 76,276 shares during the period. Bamco Inc. NY owned approximately 0.11% of Independence Realty Trust worth $5,071,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new stake in Independence Realty Trust in the second quarter worth $25,000. Mattson Financial Services LLC purchased a new position in shares of Independence Realty Trust in the second quarter valued at about $28,000. V Square Quantitative Management LLC purchased a new position in shares of Independence Realty Trust in the third quarter valued at about $28,000. Blue Trust Inc. increased its position in shares of Independence Realty Trust by 295.9% in the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 1,527 shares during the period. Finally, Assetmark Inc. purchased a new position in shares of Independence Realty Trust in the third quarter valued at about $41,000. 88.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. 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. BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $19.00 to $21.00 in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. BTIG Research boosted their price objective on shares of Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, KeyCorp boosted their price target on shares of 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 research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.43.

Independence Realty Trust Price Performance

Shares of NYSE IRT opened at $21.36 on Wednesday. Independence Realty Trust, Inc. has a 1 year low of $13.95 and a 1 year high of $22.26. The company’s 50-day moving average is $20.34 and its 200 day moving average is $19.42. The stock has a market capitalization of $4.81 billion, a P/E ratio of 18.84, a P/E/G ratio of 3.07 and a beta of 1.19.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Monday, September 30th.

Independence Realty Trust Company 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.