MetLife Investment Management LLC Sells 2,112 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

MetLife Investment Management LLC trimmed its position in Independence Realty Trust, Inc. (NYSE:IRT) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 248,449 shares of the real estate investment trust’s stock after selling 2,112 shares during the period. MetLife Investment Management LLC owned 0.11% of Independence Realty Trust worth $5,093,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Boston Partners bought a new position in shares of Independence Realty Trust in the first quarter worth approximately $892,000. Hilton Capital Management LLC purchased a new stake in shares of Independence Realty Trust during the 3rd quarter valued at $7,573,000. Cetera Advisors LLC lifted its holdings in shares of Independence Realty Trust by 132.9% during the 1st quarter. Cetera Advisors LLC now owns 241,924 shares of the real estate investment trust’s stock worth $3,902,000 after acquiring an additional 138,028 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Independence Realty Trust by 169.3% during the 1st quarter. Cetera Investment Advisers now owns 409,724 shares of the real estate investment trust’s stock worth $6,609,000 after acquiring an additional 257,555 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Independence Realty Trust in the third quarter worth $1,594,000. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JMP Securities lifted their price target on Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft upped their target price on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. BTIG Research lifted their price target on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. KeyCorp upped their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $19.00 to $21.00 in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.43.

Independence Realty Trust Stock Down 0.8 %

NYSE:IRT opened at $21.84 on Monday. The firm has a market capitalization of $4.92 billion, a P/E ratio of 19.16, a P/E/G ratio of 3.12 and a beta of 1.17. The company has a fifty day moving average of $20.33 and a 200 day moving average of $19.36. Independence Realty Trust, Inc. has a 52 week low of $13.44 and a 52 week high of $22.26.

Independence Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were issued a dividend of $0.16 per share. The ex-dividend date was Monday, September 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.93%.

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.