Brokerages Set Independence Realty Trust, Inc. (NYSE:IRT) Price Target at $21.14

Shares of Independence Realty Trust, Inc. (NYSE:IRT) have earned a consensus rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $20.86.

Several equities research analysts have commented on IRT shares. Barclays lowered their price target on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Friday. 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 company from $19.00 to $21.00 in a report on Friday, November 15th.

Independence Realty Trust Trading Up 0.1 %

Shares of NYSE:IRT opened at $18.80 on Friday. Independence Realty Trust has a twelve month low of $14.07 and a twelve month high of $22.26. The company’s 50 day moving average is $20.31 and its 200 day moving average is $20.00. The company has a market cap of $4.23 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 2.61 and a beta of 1.21.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.64 annualized dividend and a dividend yield of 3.41%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRT. V Square Quantitative Management LLC acquired a new stake in shares of Independence Realty Trust during the 3rd quarter worth approximately $28,000. Mattson Financial Services LLC acquired a new position in Independence Realty Trust in the second quarter valued at about $28,000. Assetmark Inc. acquired a new stake in shares of Independence Realty Trust during the third quarter valued at about $41,000. Blue Trust Inc. lifted its holdings in shares of Independence Realty Trust by 295.9% in the 3rd quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 1,527 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its position in shares of Independence Realty Trust by 437.8% during the 3rd quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 2,443 shares during the period. Hedge funds and other institutional investors own 88.25% of the company’s stock.

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.