1,935 Shares in Independence Realty Trust, Inc. (NYSE:IRT) Acquired by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC bought a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,935 shares of the real estate investment trust’s stock, valued at approximately $31,000.

A number of other hedge funds also recently modified their holdings of IRT. Raymond James & Associates purchased a new stake in Independence Realty Trust in the 4th quarter worth about $158,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Independence Realty Trust by 4.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 54,824 shares of the real estate investment trust’s stock worth $839,000 after purchasing an additional 2,565 shares during the period. Pacer Advisors Inc. grew its position in Independence Realty Trust by 79.6% during the fourth quarter. Pacer Advisors Inc. now owns 33,779 shares of the real estate investment trust’s stock valued at $517,000 after purchasing an additional 14,967 shares in the last quarter. Fifth Third Bancorp increased its stake in Independence Realty Trust by 83.9% in the 4th quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 1,183 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Independence Realty Trust in the 4th quarter worth approximately $2,230,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Analyst Ratings Changes

Separately, JMP Securities upped their price target on shares of Independence Realty Trust from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Independence Realty Trust presently has an average rating of “Hold” and a consensus target price of $17.60.

Independence Realty Trust Stock Up 1.6 %

IRT stock traded up $0.31 during trading hours on Friday, hitting $19.50. The company’s stock had a trading volume of 2,644,462 shares, compared to its average volume of 2,059,655. The company has a market capitalization of $4.39 billion, a PE ratio of -649.78, a price-to-earnings-growth ratio of 2.81 and a beta of 1.14. The stock has a 50 day moving average price of $18.19 and a two-hundred day moving average price of $16.58. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $19.83.

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 given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Friday, June 28th. Independence Realty Trust’s payout ratio is -2,132.62%.

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.