Fortis Group Advisors LLC Has $1.96 Million Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Fortis Group Advisors LLC grew its holdings in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 4,790,200.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 95,806 shares of the real estate investment trust's stock after purchasing an additional 95,804 shares during the period. Fortis Group Advisors LLC's holdings in Independence Realty Trust were worth $1,964,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Taylor Frigon Capital Management LLC lifted its stake in Independence Realty Trust by 0.7% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 79,217 shares of the real estate investment trust's stock valued at $1,485,000 after purchasing an additional 571 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Independence Realty Trust by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 131,019 shares of the real estate investment trust's stock valued at $2,112,000 after acquiring an additional 671 shares in the last quarter. Handelsbanken Fonder AB grew its position in Independence Realty Trust by 1.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 69,961 shares of the real estate investment trust's stock worth $1,434,000 after acquiring an additional 900 shares during the last quarter. State of Michigan Retirement System grew its position in Independence Realty Trust by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 55,100 shares of the real estate investment trust's stock worth $889,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in Independence Realty Trust by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 63,011 shares of the real estate investment trust's stock worth $1,181,000 after purchasing an additional 1,255 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on IRT shares. JMP Securities upped their price objective on 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. Deutsche Bank Aktiengesellschaft upped their price target on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a "buy" rating in a research report 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 report on Monday, August 12th. Finally, KeyCorp boosted their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Independence Realty Trust has a consensus rating of "Moderate Buy" and an average price target of $19.57.

Independence Realty Trust Stock Up 0.4 %

Independence Realty Trust stock traded up $0.07 during trading hours on Tuesday, reaching $19.53. 1,594,723 shares of the company's stock were exchanged, compared to its average volume of 2,284,443. The firm's 50 day simple moving average is $20.11 and its 200 day simple moving average is $18.47. Independence Realty Trust, Inc. has a twelve month low of $11.61 and a twelve month high of $21.20. The firm has a market capitalization of $4.39 billion, a PE ratio of -650.83, a PEG ratio of 2.79 and a beta of 1.17.

Independence Realty Trust Dividend Announcement

The firm also recently announced 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 3.28%. Independence Realty Trust's dividend payout ratio is currently -2,133.33%.

About Independence Realty Trust

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.