Pathway Financial Advisers LLC bought a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT – Free Report) 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.
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