Quadrant Capital Group LLC Grows Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Quadrant Capital Group LLC raised its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 24.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,895 shares of the real estate investment trust’s stock after buying an additional 1,934 shares during the quarter. Quadrant Capital Group LLC’s holdings in Independence Realty Trust were worth $180,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. IFP Advisors Inc increased its holdings in shares of Independence Realty Trust by 176.2% during the second quarter. IFP Advisors Inc now owns 3,000 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 1,914 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Independence Realty Trust during the fourth quarter valued at about $31,000. Parallel Advisors LLC increased its holdings in shares of Independence Realty Trust by 240.9% during the second quarter. Parallel Advisors LLC now owns 1,776 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 1,255 shares in the last quarter. Nemes Rush Group LLC acquired a new position in shares of Independence Realty Trust during the second quarter valued at about $46,000. Finally, Ronald Blue Trust Inc. increased its holdings in shares of Independence Realty Trust by 57.3% during the second quarter. Ronald Blue Trust Inc. now owns 4,006 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 1,460 shares in the last quarter. 85.45% of the stock is owned by hedge funds and other institutional investors.

Independence Realty Trust Stock Up 1.9 %

NYSE:IRT opened at $13.36 on Tuesday. Independence Realty Trust, Inc. has a 52 week low of $11.61 and a 52 week high of $19.68. The stock’s 50-day moving average price is $13.78 and its 200-day moving average price is $16.02. The stock has a market capitalization of $3.00 billion, a PE ratio of 51.38, a price-to-earnings-growth ratio of 5.85 and a beta of 1.06.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, September 29th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend was Thursday, September 28th. Independence Realty Trust’s payout ratio is 246.15%.

Wall Street Analyst Weigh In

IRT has been the topic of several recent analyst reports. JMP Securities cut their price objective on shares of Independence Realty Trust from $20.00 to $15.00 and set a “market outperform” rating on the stock in a report on Wednesday, November 1st. StockNews.com assumed coverage on shares of Independence Realty Trust in a report on Thursday, October 5th. They issued a “sell” rating on the stock. Finally, Royal Bank of Canada cut their price target on shares of Independence Realty Trust from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $18.89.

Independence Realty Trust 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.