Independence Realty Trust, Inc. (NYSE:IRT) Short Interest Up 5.4% in October

Independence Realty Trust, Inc. (NYSE:IRT - Get Free Report) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 23,730,000 shares, an increase of 5.4% from the September 30th total of 22,510,000 shares. Based on an average trading volume of 2,020,000 shares, the days-to-cover ratio is presently 11.7 days.

Analyst Upgrades and Downgrades

IRT has been the subject of a number of research analyst reports. KeyCorp increased their price target on Independence Realty Trust from $20.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. JMP Securities boosted their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company a "market outperform" rating in a research note on Monday, September 9th. BTIG Research increased their price objective on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price target 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. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Independence Realty Trust has an average rating of "Moderate Buy" and an average target price of $19.57.

Independence Realty Trust Trading Up 0.4 %

IRT stock traded up $0.08 during trading on Thursday, hitting $19.84. 2,372,863 shares of the company's stock were exchanged, compared to its average volume of 2,267,191. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of -658.33, a PEG ratio of 2.84 and a beta of 1.17. Independence Realty Trust has a 52-week low of $11.61 and a 52-week high of $21.20. The business has a 50-day moving average price of $20.13 and a two-hundred day moving average price of $18.60.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 3.23%. Independence Realty Trust's dividend payout ratio is currently -2,133.33%.

Hedge Funds Weigh In On Independence Realty Trust

Large investors have recently bought and sold shares of the stock. Bayesian Capital Management LP acquired a new stake in shares of Independence Realty Trust in the 1st quarter valued at about $499,000. Vanguard Group Inc. increased its holdings in shares of Independence Realty Trust by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 32,744,270 shares of the real estate investment trust's stock valued at $528,165,000 after acquiring an additional 343,334 shares during the period. Boston Partners acquired a new position in shares of Independence Realty Trust in the 1st quarter valued at $892,000. Russell Investments Group Ltd. raised its position in Independence Realty Trust by 35.9% in the 1st quarter. Russell Investments Group Ltd. now owns 205,491 shares of the real estate investment trust's stock valued at $3,315,000 after purchasing an additional 54,279 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Independence Realty Trust by 152.9% during the 1st quarter. SG Americas Securities LLC now owns 198,561 shares of the real estate investment trust's stock worth $3,203,000 after purchasing an additional 120,062 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company's stock.

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.