Independence Realty Trust (NYSE:IRT – Free Report) had its target price raised by JMP Securities from $17.00 to $20.00 in a report published on Friday morning, Benzinga reports. JMP Securities currently has a market outperform rating on the real estate investment trust’s stock.
Independence Realty Trust Stock Performance
NYSE:IRT traded up $0.73 during mid-day trading on Friday, reaching $19.76. The stock had a trading volume of 950,837 shares, compared to its average volume of 2,380,315. Independence Realty Trust has a twelve month low of $11.61 and a twelve month high of $19.83. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of -653.78, a PEG ratio of 2.81 and a beta of 1.14. The business has a 50 day simple moving average of $18.24 and a 200 day simple moving average of $16.62.
Independence Realty Trust Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, June 28th were given 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 payout ratio is -2,132.62%.
Hedge Funds Weigh In On Independence Realty Trust
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.
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