Coldstream Capital Management Inc. Takes $246,000 Position in Independence Realty Trust, Inc. (NYSE:IRT)

Coldstream Capital Management Inc. purchased a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 11,982 shares of the real estate investment trust’s stock, valued at approximately $246,000.

Several other large investors have also bought and sold shares of IRT. Geode Capital Management LLC grew its holdings in Independence Realty Trust by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,857,943 shares of the real estate investment trust’s stock worth $120,108,000 after acquiring an additional 50,788 shares during the period. M&T Bank Corp boosted its position in shares of Independence Realty Trust by 21.5% in the 3rd quarter. M&T Bank Corp now owns 42,364 shares of the real estate investment trust’s stock worth $868,000 after purchasing an additional 7,492 shares during the last quarter. Barclays PLC grew its stake in shares of Independence Realty Trust by 182.3% during the third quarter. Barclays PLC now owns 400,376 shares of the real estate investment trust’s stock worth $8,208,000 after purchasing an additional 258,549 shares during the period. Public Employees Retirement System of Ohio increased its holdings in Independence Realty Trust by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 322,226 shares of the real estate investment trust’s stock valued at $6,606,000 after purchasing an additional 2,673 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Independence Realty Trust by 0.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 281,800 shares of the real estate investment trust’s stock valued at $5,777,000 after purchasing an additional 900 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on IRT shares. BMO Capital Markets upgraded Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $19.00 to $21.00 in a research report on Friday, November 15th. 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. 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 report on Tuesday, September 10th. Finally, KeyCorp boosted their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.43.

Independence Realty Trust Stock Performance

Shares of IRT opened at $21.54 on Tuesday. The firm has a market cap of $4.85 billion, a P/E ratio of 79.78, a PEG ratio of 3.07 and a beta of 1.19. Independence Realty Trust, Inc. has a twelve month low of $14.07 and a twelve month high of $22.26. The firm’s 50 day moving average price is $20.56 and its two-hundred day moving average price is $19.72.

Independence Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.97%. Independence Realty Trust’s payout ratio is presently 237.04%.

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.