Independence Realty Trust, Inc. (NYSE:IRT) Short Interest Down 5.5% in September

Independence Realty Trust, Inc. (NYSE:IRT) 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRT. SageView Advisory Group LLC bought a new position in Independence Realty Trust during the 4th quarter worth about $297,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Independence Realty Trust by 57.3% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 66,544 shares of the real estate investment trust’s stock valued at $1,025,000 after buying an additional 24,238 shares in the last quarter. Aurora Investment Managers LLC. boosted its holdings in shares of Independence Realty Trust by 214.2% in the 1st quarter. Aurora Investment Managers LLC. now owns 104,898 shares of the real estate investment trust’s stock valued at $1,692,000 after buying an additional 71,516 shares in the last quarter. Congress Asset Management Co. MA boosted its holdings in shares of Independence Realty Trust by 1.3% in the 1st quarter. Congress Asset Management Co. MA now owns 131,737 shares of the real estate investment trust’s stock valued at $2,125,000 after buying an additional 1,722 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in shares of Independence Realty Trust in the 1st quarter valued at about $405,000. 88.25% of the stock is currently owned by institutional investors.

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.