LDR Capital Management LLC Has $1.28 Million Position in Independence Realty Trust, Inc. (NYSE:IRT)

LDR Capital Management LLC reduced its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 17.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 62,270 shares of the real estate investment trust’s stock after selling 13,013 shares during the quarter. Independence Realty Trust comprises 1.4% of LDR Capital Management LLC’s portfolio, making the stock its 28th biggest holding. LDR Capital Management LLC’s holdings in Independence Realty Trust were worth $1,277,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Independence Realty Trust by 1.1% in the first quarter. Vanguard Group Inc. now owns 32,744,270 shares of the real estate investment trust’s stock valued at $528,165,000 after purchasing an additional 343,334 shares during the last quarter. Long Pond Capital LP grew its position in shares of Independence Realty Trust by 204.7% in the first quarter. Long Pond Capital LP now owns 10,414,483 shares of the real estate investment trust’s stock valued at $167,986,000 after purchasing an additional 6,996,365 shares during the last quarter. Jennison Associates LLC grew its position in shares of Independence Realty Trust by 7.3% in the first quarter. Jennison Associates LLC now owns 4,429,594 shares of the real estate investment trust’s stock valued at $71,449,000 after purchasing an additional 300,281 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Independence Realty Trust by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,308,557 shares of the real estate investment trust’s stock valued at $62,001,000 after purchasing an additional 176,119 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Independence Realty Trust by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 2,468,193 shares of the real estate investment trust’s stock worth $46,254,000 after buying an additional 68,117 shares in the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Price Performance

Shares of NYSE:IRT opened at $19.47 on Tuesday. The company’s 50-day moving average price is $20.11 and its two-hundred day moving average price is $18.44. Independence Realty Trust, Inc. has a one year low of $11.61 and a one year high of $21.20. The stock has a market capitalization of $4.38 billion, a PE ratio of -648.83, a price-to-earnings-growth ratio of 2.79 and a beta of 1.17.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders 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 annualized dividend and a yield of 3.29%. Independence Realty Trust’s dividend payout ratio is currently -2,133.33%.

Analyst Ratings Changes

IRT has been the topic of a number of recent research reports. JMP Securities lifted their target price on 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. BTIG Research lifted their target price on Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. KeyCorp lifted their target price 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. Finally, Deutsche Bank Aktiengesellschaft lifted 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. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.57.

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.