Independence Realty Trust (NYSE:IRT) Hits New 12-Month High at $20.86

Independence Realty Trust, Inc. (NYSE:IRT)’s stock price hit a new 52-week high on Friday . The company traded as high as $20.86 and last traded at $20.77, with a volume of 390274 shares traded. The stock had previously closed at $20.61.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. JMP Securities boosted their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Monday, September 9th. KeyCorp upped their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, BTIG Research lifted their target price on Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.57.

Independence Realty Trust Trading Up 1.6 %

The stock has a fifty day moving average of $19.54 and a 200-day moving average of $17.62. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of -698.10, a PEG ratio of 3.00 and a beta of 1.17.

Institutional Trading of Independence Realty Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Taylor Frigon Capital Management LLC increased its position in shares of Independence Realty Trust by 0.7% in the second quarter. Taylor Frigon Capital Management LLC now owns 79,217 shares of the real estate investment trust’s stock worth $1,485,000 after acquiring an additional 571 shares in the last quarter. State of Alaska Department of Revenue grew its position in Independence Realty Trust by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 131,019 shares of the real estate investment trust’s stock worth $2,112,000 after purchasing an additional 671 shares in the last quarter. State of Michigan Retirement System raised its stake in Independence Realty Trust by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 55,100 shares of the real estate investment trust’s stock valued at $889,000 after purchasing an additional 1,200 shares during the period. Arizona State Retirement System lifted its holdings in shares of Independence Realty Trust by 2.0% in the second quarter. Arizona State Retirement System now owns 63,011 shares of the real estate investment trust’s stock valued at $1,181,000 after purchasing an additional 1,255 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Independence Realty Trust in the second quarter worth $25,000. 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.