Independence Realty Trust, Inc. (NYSE:IRT) Shares Purchased by Bailard Inc.

Bailard Inc. raised its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 6.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,215 shares of the real estate investment trust’s stock after acquiring an additional 1,115 shares during the period. Bailard Inc.’s holdings in Independence Realty Trust were worth $279,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IRT. SG Americas Securities LLC raised its holdings in Independence Realty Trust by 328.7% in the third quarter. SG Americas Securities LLC now owns 111,910 shares of the real estate investment trust’s stock valued at $1,575,000 after buying an additional 85,804 shares during the period. Oak Thistle LLC purchased a new position in shares of Independence Realty Trust in the 3rd quarter valued at $162,000. Handelsbanken Fonder AB lifted its holdings in shares of Independence Realty Trust by 41.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 69,061 shares of the real estate investment trust’s stock valued at $972,000 after acquiring an additional 20,300 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in Independence Realty Trust by 1.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 166,731 shares of the real estate investment trust’s stock worth $2,346,000 after purchasing an additional 2,947 shares during the period. Finally, Patton Albertson Miller Group LLC acquired a new stake in Independence Realty Trust in the 3rd quarter valued at $255,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on IRT shares. Royal Bank of Canada boosted their price objective on Independence Realty Trust from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Deutsche Bank Aktiengesellschaft initiated coverage on Independence Realty Trust in a report on Tuesday, January 30th. They set a “buy” rating and a $18.00 target price on the stock. TheStreet cut Independence Realty Trust from a “c” rating to a “d+” rating in a report on Friday, March 1st. Barclays dropped their price objective on shares of Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 20th. Finally, JMP Securities upped their target price on shares of Independence Realty Trust from $15.00 to $17.00 and gave the company a “market outperform” rating in a research note on Wednesday, March 6th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Independence Realty Trust has an average rating of “Hold” and an average target price of $17.00.

Independence Realty Trust Stock Performance

Shares of NYSE IRT opened at $15.86 on Monday. The business has a 50 day moving average price of $15.66 and a two-hundred day moving average price of $14.79. Independence Realty Trust, Inc. has a fifty-two week low of $11.61 and a fifty-two week high of $18.77.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, March 29th were paid a $0.16 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.04%. Independence Realty Trust’s dividend payout ratio (DPR) is presently -2,132.62%.

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.