Victory Capital Management Inc. Has $1.48 Million Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Victory Capital Management Inc. cut its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 41.4% in the third quarter, Holdings Channel reports. The institutional investor owned 72,112 shares of the real estate investment trust’s stock after selling 51,047 shares during the quarter. Victory Capital Management Inc.’s holdings in Independence Realty Trust were worth $1,478,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Advisors Asset Management Inc. boosted its holdings in Independence Realty Trust by 146.6% in the 1st 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. Lazard Asset Management LLC acquired a new stake in shares of Independence Realty Trust during the 1st quarter worth approximately $40,000. Price T Rowe Associates Inc. MD increased its position in shares of Independence Realty Trust by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 117,227 shares of the real estate investment trust’s stock valued at $1,891,000 after purchasing an additional 8,319 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Independence Realty Trust in the first quarter valued at $499,000. Finally, Virtu Financial LLC bought a new position in Independence Realty Trust in the first quarter worth $238,000. 88.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on IRT shares. BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $19.00 to $21.00 in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised their target price on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. BTIG Research upped their price target on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, August 12th. KeyCorp boosted their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, JMP Securities lifted their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Monday, September 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.43.

Independence Realty Trust Stock Performance

Shares of NYSE IRT opened at $21.75 on Tuesday. Independence Realty Trust, Inc. has a 1-year low of $13.24 and a 1-year high of $22.26. The company has a 50-day moving average of $20.25 and a two-hundred day moving average of $19.22. The company has a market cap of $4.90 billion, a PE ratio of 19.08, a P/E/G ratio of 3.11 and a beta of 1.17.

Independence Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.94%. The ex-dividend date was Monday, September 30th.

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.