Independence Realty Trust, Inc. (NYSE:IRT) Receives $21.14 Average PT from Analysts

Shares of Independence Realty Trust, Inc. (NYSE:IRT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seven research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $20.86.

A number of brokerages recently issued reports on IRT. Barclays dropped their price objective on shares of Independence Realty Trust from $23.00 to $21.00 and set an "equal weight" rating for the company in a report on Friday. BMO Capital Markets upgraded Independence Realty Trust from an "underperform" rating to a "market perform" rating and upped their price target for the company from $19.00 to $21.00 in a research report on Friday, November 15th.

Hedge Funds Weigh In On Independence Realty Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Mattson Financial Services LLC acquired a new position in shares of Independence Realty Trust during the 2nd quarter valued at $28,000. V Square Quantitative Management LLC bought a new stake in Independence Realty Trust in the third quarter valued at $28,000. Blue Trust Inc. raised its holdings in shares of Independence Realty Trust by 295.9% during the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust's stock valued at $38,000 after purchasing an additional 1,527 shares during the period. Assetmark Inc. bought a new position in shares of Independence Realty Trust during the 3rd quarter worth about $41,000. Finally, Avior Wealth Management LLC grew its stake in shares of Independence Realty Trust by 437.8% in the 3rd quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust's stock valued at $62,000 after buying an additional 2,443 shares during the period. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Price Performance

Shares of NYSE IRT traded up $0.03 during mid-day trading on Friday, hitting $18.80. 1,703,424 shares of the stock traded hands, compared to its average volume of 1,553,982. The company has a market cap of $4.23 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 2.61 and a beta of 1.21. Independence Realty Trust has a twelve month low of $14.07 and a twelve month high of $22.26. The firm has a 50 day simple moving average of $20.36 and a two-hundred day simple moving average of $19.99.

Independence Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Tuesday, December 31st.

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.