10,328 Shares in Independence Realty Trust, Inc. (NYSE:IRT) Bought by Raymond James & Associates

Raymond James & Associates bought a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 10,328 shares of the real estate investment trust’s stock, valued at approximately $158,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ranger Global Real Estate Advisors LLC lifted its holdings in shares of Independence Realty Trust by 15.0% during the 3rd quarter. Ranger Global Real Estate Advisors LLC now owns 3,539,156 shares of the real estate investment trust’s stock valued at $49,796,000 after purchasing an additional 461,572 shares in the last quarter. Jennison Associates LLC lifted its stake in Independence Realty Trust by 2.4% in the third quarter. Jennison Associates LLC now owns 3,187,637 shares of the real estate investment trust’s stock valued at $44,850,000 after buying an additional 75,700 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Independence Realty Trust by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,044,923 shares of the real estate investment trust’s stock valued at $42,842,000 after buying an additional 46,841 shares during the period. Van Lanschot Kempen Investment Management N.V. increased its position in shares of Independence Realty Trust by 25.5% during the third quarter. Van Lanschot Kempen Investment Management N.V. now owns 853,747 shares of the real estate investment trust’s stock worth $12,012,000 after acquiring an additional 173,700 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Independence Realty Trust by 0.6% during the third quarter. Rhumbline Advisers now owns 829,518 shares of the real estate investment trust’s stock worth $11,671,000 after acquiring an additional 4,649 shares during the period. 88.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Independence Realty Trust Trading Down 0.1 %

NYSE IRT opened at $15.76 on Thursday. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $18.77. The stock has a 50 day moving average of $15.69 and a 200-day moving average of $14.83. The company has a market cap of $3.55 billion, a PE ratio of -525.16, a PEG ratio of 2.33 and a beta of 1.07.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, March 29th were paid a dividend of $0.16 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.64 annualized dividend and a dividend yield of 4.06%. Independence Realty Trust’s dividend payout ratio is presently -2,132.62%.

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.