Independence Realty Trust, Inc. (NYSE:IRT – Get Free Report) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 22,510,000 shares, a decrease of 5.5% from the September 15th total of 23,820,000 shares. Based on an average daily volume of 1,920,000 shares, the days-to-cover ratio is currently 11.7 days.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on IRT. BTIG Research upped their target price on shares of 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 upped their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, JMP Securities upped their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Independence Realty Trust has an average rating of “Moderate Buy” and an average target price of $19.57.
Get Our Latest Stock Analysis on IRT
Institutional Inflows and Outflows
Independence Realty Trust Trading Down 1.2 %
NYSE IRT opened at $19.74 on Friday. The company’s 50-day moving average price is $20.11 and its 200-day moving average price is $18.34. The stock has a market cap of $4.44 billion, a PE ratio of -658.00, a PEG ratio of 2.79 and a beta of 1.17. Independence Realty Trust has a 12 month low of $11.61 and a 12 month high of $21.20.
Independence Realty Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Monday, September 30th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Monday, September 30th. Independence Realty Trust’s payout ratio is presently -2,133.33%.
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.
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