Quest Partners LLC Invests $189,000 in Independence Realty Trust, Inc. (NYSE:IRT)

Quest Partners LLC acquired a new stake in Independence Realty Trust, Inc. (NYSE:IRT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 9,207 shares of the real estate investment trust’s stock, valued at approximately $189,000.

Several other hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its stake in Independence Realty Trust by 146.6% during 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 position in Independence Realty Trust during the 1st quarter valued at about $40,000. Price T Rowe Associates Inc. MD boosted its stake in Independence Realty Trust by 7.6% during the 1st 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 Independence Realty Trust during the 1st quarter valued at about $499,000. Finally, Virtu Financial LLC acquired a new position in Independence Realty Trust during the 1st quarter valued at about $238,000. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Price Performance

NYSE IRT opened at $22.01 on Thursday. The company’s 50 day simple moving average is $20.29 and its 200 day simple moving average is $19.28. Independence Realty Trust, Inc. has a 12 month low of $13.24 and a 12 month high of $22.26. The company has a market capitalization of $4.95 billion, a P/E ratio of 19.07, a PEG ratio of 3.11 and a beta of 1.17.

Independence Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were issued a $0.16 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.91%.

Analysts Set New Price Targets

A number of research firms have issued reports on IRT. 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. BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $19.00 to $21.00 in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. JMP Securities boosted their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Monday, September 9th. Finally, BTIG Research boosted their price target on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.43.

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.