Moors & Cabot Inc. increased its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT – Free Report) by 24.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 22,162 shares of the real estate investment trust’s stock after acquiring an additional 4,370 shares during the period. Moors & Cabot Inc.’s holdings in Independence Realty Trust were worth $404,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. 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. Lazard Asset Management LLC bought a new stake in shares of Independence Realty Trust during the 4th quarter worth approximately $31,000. Nemes Rush Group LLC bought a new stake in shares of Independence Realty Trust during the 2nd quarter worth approximately $46,000. IFP Advisors Inc lifted 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 acquiring an additional 1,914 shares during the last quarter. Finally, Ronald Blue Trust Inc. lifted its stake in shares of Independence Realty Trust by 57.3% during the 2nd 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 during the last quarter. 85.45% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on IRT shares. StockNews.com began coverage on Independence Realty Trust in a research note on Thursday, October 5th. They set a “sell” rating for the company. Royal Bank of Canada decreased their target price on Independence Realty Trust from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, November 1st. Finally, JMP Securities decreased their target price on 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. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $18.89.
Independence Realty Trust Trading Down 1.1 %
Shares of NYSE:IRT opened at $13.11 on Friday. Independence Realty Trust, Inc. has a 12-month low of $11.61 and a 12-month high of $19.68. The business’s fifty day simple moving average is $13.83 and its 200-day simple moving average is $16.04. The company has a market capitalization of $2.95 billion, a PE ratio of 50.42, a P/E/G ratio of 5.85 and a beta of 1.06.
Independence Realty Trust Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, September 29th were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.88%. Independence Realty Trust’s dividend payout ratio 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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