Independence Realty Trust, Inc. (NYSE:IRT) Short Interest Update

Independence Realty Trust, Inc. (NYSE:IRT - Get Free Report) was the target of a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 26,740,000 shares, a drop of 5.6% from the November 30th total of 28,340,000 shares. Based on an average daily trading volume, of 1,970,000 shares, the short-interest ratio is currently 13.6 days.

Institutional Trading of Independence Realty Trust

Institutional investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC purchased a new position in shares of Independence Realty Trust in the 2nd quarter valued at $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Independence Realty Trust during the third quarter worth about $28,000. Mattson Financial Services LLC acquired a new stake in shares of Independence Realty Trust during the second quarter worth about $28,000. Assetmark Inc. purchased a new stake in shares of Independence Realty Trust in the 3rd quarter valued at about $41,000. Finally, Blue Trust Inc. boosted its position in shares of Independence Realty Trust by 295.9% in the 3rd 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. Hedge funds and other institutional investors own 88.25% of the company's stock.

Independence Realty Trust Stock Performance

Shares of NYSE:IRT traded up $0.04 on Wednesday, hitting $19.84. 1,808,002 shares of the company's stock were exchanged, compared to its average volume of 2,201,886. Independence Realty Trust has a 1-year low of $14.07 and a 1-year high of $22.26. The company has a market capitalization of $4.47 billion, a PE ratio of 76.31, a P/E/G ratio of 3.07 and a beta of 1.19. The firm's 50-day moving average is $20.73 and its 200 day moving average is $19.94.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be paid a $0.16 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.64 annualized dividend and a yield of 3.23%. Independence Realty Trust's dividend payout ratio is currently 246.15%.

Analyst Upgrades and Downgrades

IRT has been the subject of several research reports. Barclays assumed coverage on Independence Realty Trust in a research report on Tuesday, December 17th. They issued an "equal weight" rating and a $23.00 target price for the company. JMP Securities increased their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock a "market outperform" rating in a report on Monday, September 9th. BMO Capital Markets upgraded shares of Independence Realty Trust from an "underperform" rating to a "market perform" rating and boosted their price target for the stock from $19.00 to $21.00 in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft upped their price objective 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. Finally, KeyCorp lifted their target price on Independence Realty Trust from $20.00 to $22.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $21.14.

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.