10,345 Shares in Independence Realty Trust, Inc. (NYSE:IRT) Acquired by Ironsides Asset Advisors LLC

Ironsides Asset Advisors LLC acquired a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,345 shares of the real estate investment trust’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new stake in Independence Realty Trust during the second quarter worth about $25,000. Mattson Financial Services LLC acquired a new position in shares of Independence Realty Trust in the 2nd quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new stake in Independence Realty Trust during the 3rd quarter valued at $28,000. Pathway Financial Advisers LLC acquired a new stake in Independence Realty Trust during the 1st quarter valued at $31,000. Finally, Blue Trust Inc. raised its position in Independence Realty Trust by 295.9% in the 3rd quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,527 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Independence Realty Trust stock opened at $20.24 on Thursday. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 2.75 and a beta of 1.17. The company’s 50 day simple moving average is $20.07 and its 200 day simple moving average is $18.74. Independence Realty Trust, Inc. has a fifty-two week low of $12.50 and a fifty-two week high of $21.20.

Independence Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were issued a $0.16 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.64 annualized dividend and a dividend yield of 3.16%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IRT. Deutsche Bank Aktiengesellschaft raised their target price on 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 increased their price target on shares of 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. BTIG Research upped their price objective on Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, KeyCorp boosted their target price on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.57.

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.