Independence Realty Trust, Inc. (NYSE:IRT) Receives $20.43 Average PT from Analysts

Shares of Independence Realty Trust, Inc. (NYSE:IRT) have received an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $20.43.

A number of equities analysts have recently issued reports on IRT shares. BTIG Research raised their price objective on Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. KeyCorp raised their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. JMP Securities upped their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a research note on Monday, September 9th. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $19.00 to $21.00 in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, September 10th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IRT. Ashton Thomas Private Wealth LLC bought a new stake in shares of Independence Realty Trust during the second quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new stake in Independence Realty Trust in the 3rd quarter valued at $28,000. Mattson Financial Services LLC bought a new stake in Independence Realty Trust during the 2nd quarter valued at $28,000. Assetmark Inc. acquired a new position in Independence Realty Trust during the third quarter worth $41,000. Finally, Blue Trust Inc. raised its holdings in Independence Realty Trust by 295.9% during the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 1,527 shares during the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Stock Up 1.0 %

Shares of NYSE:IRT opened at $21.23 on Thursday. The firm has a market cap of $4.78 billion, a P/E ratio of 18.62, a P/E/G ratio of 3.04 and a beta of 1.19. Independence Realty Trust has a 12-month low of $14.06 and a 12-month high of $22.26. The business has a fifty day simple moving average of $20.38 and a 200 day simple moving average of $19.49.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.01%. The ex-dividend date was Monday, September 30th.

Independence Realty Trust Company 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.