YHB Investment Advisors Inc. lessened its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT – Free Report) by 4.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 28,044 shares of the real estate investment trust’s stock after selling 1,330 shares during the period. YHB Investment Advisors Inc.’s holdings in Independence Realty Trust were worth $511,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of IRT. IFP Advisors Inc boosted its stake in shares of Independence Realty Trust by 176.2% during the 2nd quarter. IFP Advisors Inc now owns 3,000 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,914 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Independence Realty Trust in the fourth quarter worth approximately $31,000. Parallel Advisors LLC lifted its stake in shares of Independence Realty Trust by 240.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,776 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 1,255 shares during the last quarter. Nemes Rush Group LLC purchased a new position in Independence Realty Trust during the 2nd quarter valued at $46,000. Finally, Ronald Blue Trust Inc. grew its position in Independence Realty Trust by 57.3% in the 2nd quarter. Ronald Blue Trust Inc. now owns 4,006 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 1,460 shares during the last quarter. 85.45% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on IRT. StockNews.com assumed coverage on Independence Realty Trust in a research report on Thursday, October 5th. They set a “sell” rating for the company. JMP Securities lowered their price objective on shares of Independence Realty Trust from $20.00 to $15.00 and set a “market outperform” rating for the company in a research report on Wednesday, November 1st. Finally, Royal Bank of Canada reduced their target price on shares of Independence Realty Trust from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Independence Realty Trust presently has an average rating of “Hold” and a consensus target price of $18.89.
Independence Realty Trust Stock Down 0.4 %
Shares of NYSE:IRT opened at $13.41 on Thursday. The firm has a 50 day moving average of $13.95 and a 200 day moving average of $16.09. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 51.58, a price-to-earnings-growth ratio of 5.47 and a beta of 1.06. Independence Realty Trust, Inc. has a 52 week low of $11.61 and a 52 week high of $19.68.
Independence Realty Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, September 29th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend was Thursday, September 28th. Independence Realty Trust’s dividend payout ratio (DPR) is currently 246.16%.
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.
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