Independence Realty Trust, Inc. (NYSE:IRT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

by · The Cerbat Gem

Shares of Independence Realty Trust, Inc. (NYSE:IRT – Get Free Report) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $19.57.

Several brokerages recently issued reports on IRT. JMP Securities increased their price objective 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. BTIG Research increased their price objective on 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 increased their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective 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.

View Our Latest Research Report on IRT

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its stake 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 acquiring an additional 1,527 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Independence Realty Trust in the 3rd quarter valued at approximately $28,000. Aurora Investment Managers LLC. raised its stake in shares of Independence Realty Trust by 24.8% in the 3rd quarter. Aurora Investment Managers LLC. now owns 171,215 shares of the real estate investment trust’s stock valued at $3,510,000 after acquiring an additional 34,066 shares in the last quarter. Hunter Perkins Capital Management LLC raised its stake in shares of Independence Realty Trust by 3.7% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 40,975 shares of the real estate investment trust’s stock valued at $840,000 after acquiring an additional 1,450 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Independence Realty Trust by 2.6% in the 3rd quarter. Creative Planning now owns 101,549 shares of the real estate investment trust’s stock valued at $2,082,000 after acquiring an additional 2,587 shares in the last quarter. 88.25% of the stock is owned by institutional investors.

Independence Realty Trust Stock Up 1.1 %

NYSE:IRT opened at $19.95 on Wednesday. Independence Realty Trust has a 1-year low of $11.61 and a 1-year high of $21.20. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of -665.00, a price-to-earnings-growth ratio of 2.79 and a beta of 1.17. The stock has a fifty day simple moving average of $20.11 and a 200 day simple moving average of $18.41.

Independence Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Monday, September 30th. Independence Realty Trust’s dividend payout ratio (DPR) is presently -2,133.33%.

Independence Realty Trust Company Profile

(Get Free Report

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.

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