Kestra Private Wealth Services LLC Purchases Shares of 64,986 Independence Realty Trust, Inc. (NYSE:IRT)

Kestra Private Wealth Services LLC acquired a new stake in Independence Realty Trust, Inc. (NYSE:IRT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 64,986 shares of the real estate investment trust’s stock, valued at approximately $994,000.

A number of other large investors have also recently made changes to their positions in IRT. Van ECK Associates Corp grew its holdings in Independence Realty Trust by 19.7% during the fourth quarter. Van ECK Associates Corp now owns 31,627 shares of the real estate investment trust’s stock worth $484,000 after buying an additional 5,200 shares in the last quarter. Silver Oak Securities Incorporated boosted its holdings in Independence Realty Trust by 20.4% during the fourth quarter. Silver Oak Securities Incorporated now owns 49,463 shares of the real estate investment trust’s stock worth $757,000 after purchasing an additional 8,367 shares during the last quarter. Retirement Systems of Alabama grew its position in Independence Realty Trust by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 281,438 shares of the real estate investment trust’s stock worth $4,306,000 after purchasing an additional 1,232 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in Independence Realty Trust by 7.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 523,265 shares of the real estate investment trust’s stock worth $8,006,000 after purchasing an additional 37,882 shares in the last quarter. Finally, Bailard Inc. lifted its stake in Independence Realty Trust by 6.5% in the fourth quarter. Bailard Inc. now owns 18,215 shares of the real estate investment trust’s stock valued at $279,000 after purchasing an additional 1,115 shares during the last quarter. 88.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft started 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 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 report on Tuesday, February 20th. TheStreet downgraded shares of Independence Realty Trust from a “c” rating to a “d+” rating in a research note on Friday, March 1st. JMP Securities upped their price target 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. Finally, Royal Bank of Canada raised their price objective on shares of Independence Realty Trust from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.00.

Independence Realty Trust Stock Performance

IRT stock opened at $16.33 on Friday. The firm has a 50 day moving average of $15.73 and a 200-day moving average of $14.85. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $18.77.

Independence Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, March 29th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend was Wednesday, March 27th. Independence Realty Trust’s payout ratio is -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.