Independence Realty Trust (NYSE:IRT) PT Raised to $22.00 at KeyCorp

Independence Realty Trust (NYSE:IRT) had its price objective increased by KeyCorp from $20.00 to $22.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

A number of other research analysts also recently commented on the stock. BTIG Research increased their price objective on shares of Independence Realty Trust from $18.00 to $21.00 and gave the company a buy rating in a research note on Monday, August 12th. JMP Securities increased their price objective on shares of Independence Realty Trust from $17.00 to $20.00 and gave the company a market outperform rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $18.71.

Independence Realty Trust Trading Down 1.6 %

Shares of IRT stock opened at $19.74 on Friday. Independence Realty Trust has a twelve month low of $11.61 and a twelve month high of $20.86. The company has a market capitalization of $4.44 billion, a PE ratio of -657.83, a price-to-earnings-growth ratio of 3.05 and a beta of 1.14. The firm has a fifty day simple moving average of $19.38 and a 200-day simple moving average of $17.42.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, June 28th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.24%. Independence Realty Trust’s dividend payout ratio (DPR) is -2,133.33%.

Institutional Trading of Independence Realty Trust

Large investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Independence Realty Trust in the 2nd quarter worth about $25,000. Pathway Financial Advisers LLC acquired a new stake in shares of Independence Realty Trust in the 1st quarter worth about $31,000. Lazard Asset Management LLC acquired a new stake in shares of Independence Realty Trust in the 1st quarter worth about $40,000. Advisors Asset Management Inc. increased its holdings in shares of Independence Realty Trust by 146.6% in the 1st quarter. Advisors Asset Management Inc. now owns 2,833 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 1,684 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Independence Realty Trust in the 2nd quarter worth about $64,000. 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.