Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Independence Realty Trust, Inc. (NYSE:IRT)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 0.5% during the third quarter, Holdings Channel.com reports. The firm owned 99,984 shares of the real estate investment trust’s stock after acquiring an additional 526 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Independence Realty Trust were worth $2,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in IRT. Taylor Frigon Capital Management LLC grew its position in Independence Realty Trust by 0.7% during the second quarter. Taylor Frigon Capital Management LLC now owns 79,217 shares of the real estate investment trust’s stock valued at $1,485,000 after buying an additional 571 shares during the period. Handelsbanken Fonder AB boosted its position in Independence Realty Trust by 1.3% during the third quarter. Handelsbanken Fonder AB now owns 69,961 shares of the real estate investment trust’s stock worth $1,434,000 after purchasing an additional 900 shares in the last quarter. Arizona State Retirement System grew its holdings in Independence Realty Trust by 2.0% in the second quarter. Arizona State Retirement System now owns 63,011 shares of the real estate investment trust’s stock valued at $1,181,000 after purchasing an additional 1,255 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Independence Realty Trust during the 2nd quarter valued at approximately $25,000. Finally, V Square Quantitative Management LLC acquired a new stake in Independence Realty Trust in the 3rd quarter valued at $28,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Independence Realty Trust Price Performance

Shares of Independence Realty Trust stock opened at $21.36 on Wednesday. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 3.07 and a beta of 1.19. The business has a 50-day moving average of $20.34 and a 200 day moving average of $19.42. Independence Realty Trust, Inc. has a 12 month low of $13.95 and a 12 month high of $22.26.

Independence Realty Trust Dividend Announcement

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

Analyst Ratings Changes

IRT has been the subject of a number of recent analyst reports. KeyCorp raised their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. BMO Capital Markets upgraded 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. BTIG Research increased their price target on Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 12th. 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 report on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from 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.