Capital Investment Advisors LLC Has $324,000 Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Capital Investment Advisors LLC lowered its position in shares of Independence Realty Trust, Inc. (NYSE:IRTGet Rating) by 21.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,611 shares of the real estate investment trust’s stock after selling 4,279 shares during the quarter. Capital Investment Advisors LLC’s holdings in Independence Realty Trust were worth $324,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Amalgamated Bank grew its holdings in shares of Independence Realty Trust by 100.7% in the 1st quarter. Amalgamated Bank now owns 98,974 shares of the real estate investment trust’s stock valued at $2,617,000 after buying an additional 49,671 shares during the period. Kalos Management Inc. bought a new position in Independence Realty Trust during the first quarter worth about $388,000. J.W. Cole Advisors Inc. grew its stake in Independence Realty Trust by 43.1% in the first quarter. J.W. Cole Advisors Inc. now owns 72,504 shares of the real estate investment trust’s stock valued at $1,917,000 after acquiring an additional 21,820 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Independence Realty Trust by 11.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 121,202 shares of the real estate investment trust’s stock worth $3,205,000 after acquiring an additional 12,150 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Independence Realty Trust by 29.2% during the 1st quarter. Bank of America Corp DE now owns 618,075 shares of the real estate investment trust’s stock valued at $16,343,000 after purchasing an additional 139,786 shares in the last quarter. Institutional investors own 83.09% of the company’s stock.

Independence Realty Trust Stock Up 0.8 %

Shares of IRT stock opened at $18.84 on Monday. The company’s fifty day simple moving average is $20.74 and its 200-day simple moving average is $23.06. The firm has a market cap of $4.18 billion, a PE ratio of 28.98, a P/E/G ratio of 8.75 and a beta of 0.94. Independence Realty Trust, Inc. has a 12 month low of $18.39 and a 12 month high of $28.42.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, September 30th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Thursday, September 29th. Independence Realty Trust’s dividend payout ratio is presently 86.15%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Jefferies Financial Group lowered their target price on Independence Realty Trust from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. StockNews.com raised shares of Independence Realty Trust to a “sell” rating in a research note on Tuesday, August 9th. TheStreet lowered shares of Independence Realty Trust from a “b-” rating to a “c+” rating in a research note on Tuesday, May 31st. Compass Point set a $24.50 price target on shares of Independence Realty Trust in a research note on Monday, June 20th. Finally, KeyCorp cut their price target on shares of Independence Realty Trust from $29.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Independence Realty Trust has a consensus rating of “Moderate Buy” and an average price target of $26.72.

Independence Realty Trust Profile

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Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily apartment properties across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers.

See Also

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Institutional Ownership by Quarter for Independence Realty Trust (NYSE:IRT)

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