Independence Realty Trust, Inc. (NYSE:IRT) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Independence Realty Trust, Inc. (NYSE:IRT - Get Free Report) have received a consensus rating of "Moderate Buy" from the five ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $17.00.

Several research analysts recently issued reports on IRT shares. JMP Securities increased their price target on shares of Independence Realty Trust from $15.00 to $17.00 and gave the stock a "market outperform" rating in a report on Wednesday, March 6th. Barclays dropped their target price on shares of Independence Realty Trust from $22.00 to $18.00 and set an "overweight" rating for the company in a report on Tuesday, February 20th. TheStreet cut shares of Independence Realty Trust from a "c" rating to a "d+" rating in a report on Friday, March 1st. BMO Capital Markets reissued an "underperform" rating and set a $15.00 price objective (up from $14.00) on shares of Independence Realty Trust in a research note on Friday, December 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Independence Realty Trust in a research note on Tuesday, January 30th. They set a "buy" rating and a $18.00 price objective for the company.

Independence Realty Trust Trading Up 2.5 %

Shares of IRT traded up $0.40 during mid-day trading on Tuesday, hitting $16.69. 3,102,461 shares of the company's stock were exchanged, compared to its average volume of 2,235,971. Independence Realty Trust has a fifty-two week low of $11.61 and a fifty-two week high of $18.77. The firm has a market capitalization of $3.76 billion, a P/E ratio of -236.11, a P/E/G ratio of 2.25 and a beta of 1.07. The business's 50 day moving average is $15.39 and its two-hundred day moving average is $14.61.

Independence Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, March 29th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.64 dividend on an annualized basis and a yield of 3.83%. Independence Realty Trust's dividend payout ratio (DPR) is currently -914.16%.

Institutional Trading of Independence Realty Trust

A number of hedge funds have recently bought and sold shares of IRT. Farther Finance Advisors LLC increased its position in Independence Realty Trust by 157.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,553 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 950 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Independence Realty Trust during the 4th quarter worth approximately $31,000. Steward Partners Investment Advisory LLC acquired a new stake in Independence Realty Trust during the 4th quarter worth approximately $31,000. Hibernia Wealth Partners LLC acquired a new stake in Independence Realty Trust during the 3rd quarter worth approximately $33,000. Finally, Fifth Third Bancorp increased its position in Independence Realty Trust by 83.9% during the 4th quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 1,183 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company's stock.

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.