Independence Realty Trust, Inc. (NYSE:IRT) Stock Holdings Raised by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 18.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 22,705 shares of the real estate investment trust’s stock after purchasing an additional 3,600 shares during the period. Janney Montgomery Scott LLC’s holdings in Independence Realty Trust were worth $450,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Perpetual Ltd increased its position in shares of Independence Realty Trust by 38.2% in the 4th quarter. Perpetual Ltd now owns 43,365 shares of the real estate investment trust’s stock worth $860,000 after purchasing an additional 11,980 shares during the last quarter. Aurora Investment Managers LLC. increased its position in shares of Independence Realty Trust by 5.9% in the 4th quarter. Aurora Investment Managers LLC. now owns 181,258 shares of the real estate investment trust’s stock worth $3,596,000 after purchasing an additional 10,043 shares during the last quarter. Grove Bank & Trust bought a new stake in shares of Independence Realty Trust in the 4th quarter worth about $7,636,000. HB Wealth Management LLC acquired a new position in shares of Independence Realty Trust in the 4th quarter valued at about $242,000. Finally, Fulton Bank N.A. acquired a new position in shares of Independence Realty Trust in the 4th quarter valued at about $288,000. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Up 0.3 %

Independence Realty Trust stock opened at $19.92 on Monday. The firm has a 50-day moving average price of $19.85 and a two-hundred day moving average price of $20.04. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 2.77 and a beta of 1.21. Independence Realty Trust, Inc. has a 52-week low of $14.07 and a 52-week high of $22.26.

Independence Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Tuesday, December 31st.

Analysts Set New Price Targets

Several research firms have recently commented on IRT. Barclays decreased their price target on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $19.00 to $21.00 in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.86.

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.