Cetera Advisors LLC lessened its position in Independence Realty Trust, Inc. (NYSE:IRT – Free Report) by 3.1% in the second quarter, HoldingsChannel reports. The firm owned 113,773 shares of the real estate investment trust’s stock after selling 3,652 shares during the quarter. Cetera Advisors LLC’s holdings in Independence Realty Trust were worth $2,073,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in IRT. IFP Advisors Inc boosted its holdings in Independence Realty Trust by 176.2% in the second quarter. IFP Advisors Inc now owns 3,000 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 1,914 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Independence Realty Trust in the fourth quarter worth $31,000. Parallel Advisors LLC boosted its holdings in Independence Realty Trust by 240.9% in the second 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 in the last quarter. Nemes Rush Group LLC bought a new stake in Independence Realty Trust in the second quarter worth $46,000. Finally, Ronald Blue Trust Inc. boosted its holdings in Independence Realty Trust by 57.3% in the second quarter. Ronald Blue Trust Inc. now owns 4,006 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 1,460 shares in the last quarter. Hedge funds and other institutional investors own 85.45% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on IRT shares. Royal Bank of Canada dropped their target price on Independence Realty Trust from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, November 1st. JMP Securities dropped their target price on Independence Realty Trust from $20.00 to $15.00 and set a “market outperform” rating on the stock in a report on Wednesday, November 1st. Finally, StockNews.com assumed coverage on Independence Realty Trust in a research note on Thursday, October 5th. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.89.
Independence Realty Trust Price Performance
IRT stock opened at $13.11 on Friday. The stock has a market capitalization of $2.95 billion, a P/E ratio of 50.42, a P/E/G ratio of 5.85 and a beta of 1.06. Independence Realty Trust, Inc. has a 1-year low of $11.61 and a 1-year high of $19.68. The business has a fifty day moving average price of $13.83 and a 200-day moving average price of $16.04.
Independence Realty Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, September 29th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend was Thursday, September 28th. Independence Realty Trust’s dividend payout ratio (DPR) is presently 246.15%.
Independence Realty Trust 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.
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