Massachusetts Financial Services Co. MA Buys 2,829,247 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Massachusetts Financial Services Co. MA raised its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 236.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,027,943 shares of the real estate investment trust’s stock after acquiring an additional 2,829,247 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.79% of Independence Realty Trust worth $82,573,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of IRT. B&I Capital AG purchased a new position in shares of Independence Realty Trust during the second quarter valued at about $10,900,000. Easterly Investment Partners LLC purchased a new position in Independence Realty Trust during the 3rd quarter valued at approximately $11,132,000. Makena Capital Management LLC bought a new stake in Independence Realty Trust in the 2nd quarter worth approximately $10,039,000. Sei Investments Co. raised its holdings in shares of Independence Realty Trust by 241.3% during the 2nd quarter. Sei Investments Co. now owns 735,304 shares of the real estate investment trust’s stock worth $13,780,000 after acquiring an additional 519,841 shares in the last quarter. Finally, APG Asset Management US Inc. bought a new position in shares of Independence Realty Trust during the 2nd quarter valued at approximately $9,395,000. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Stock Performance

Shares of NYSE IRT opened at $21.75 on Monday. Independence Realty Trust, Inc. has a fifty-two week low of $13.24 and a fifty-two week high of $21.77. The company has a market cap of $4.90 billion, a PE ratio of 18.84, a P/E/G ratio of 3.07 and a beta of 1.17. The business has a 50-day simple moving average of $20.24 and a two-hundred day simple moving average of $19.19.

Independence Realty Trust Announces Dividend

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

Wall Street Analyst Weigh In

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