Independence Realty Trust (NYSE:IRT) Now Covered by Analysts at Barclays

Barclays began coverage on shares of Independence Realty Trust (NYSE:IRT) in a report issued on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $23.00 target price on the real estate investment trust’s stock.

A number of other analysts have also weighed in on the stock. KeyCorp raised their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 6th. BMO Capital Markets upgraded Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $19.00 to $21.00 in a research report on Friday, November 15th. JMP Securities upped their price target on Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a research note on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Independence Realty Trust presently has a consensus rating of “Moderate Buy” and an average price target of $21.14.

Independence Realty Trust Stock Performance

Shares of IRT stock opened at $21.18 on Tuesday. The stock’s fifty day moving average is $20.60 and its 200-day moving average is $19.76. Independence Realty Trust has a 52 week low of $14.07 and a 52 week high of $22.26. The stock has a market capitalization of $4.77 billion, a PE ratio of 78.44, a PEG ratio of 3.07 and a beta of 1.19.

Independence Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be issued a $0.16 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.64 dividend on an annualized basis and a yield of 3.02%. Independence Realty Trust’s dividend payout ratio is presently 237.04%.

Hedge Funds Weigh In On Independence Realty Trust

Institutional investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Independence Realty Trust in the 2nd quarter valued at approximately $25,000. Mattson Financial Services LLC bought a new stake in Independence Realty Trust in the second quarter valued at approximately $28,000. V Square Quantitative Management LLC acquired a new stake in Independence Realty Trust in the third quarter worth $28,000. Blue Trust Inc. boosted its position in shares of Independence Realty Trust by 295.9% during the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 1,527 shares in the last quarter. Finally, Assetmark Inc. acquired a new position in shares of Independence Realty Trust in the 3rd quarter valued at $41,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

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.