Balboa Wealth Partners Purchases Shares of 10,240 Independence Realty Trust, Inc. (NYSE:IRT)

Balboa Wealth Partners acquired a new position in Independence Realty Trust, Inc. (NYSE:IRT) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,240 shares of the real estate investment trust’s stock, valued at approximately $210,000.

Several other institutional investors have also modified their holdings of IRT. Ashton Thomas Private Wealth LLC acquired a new position in Independence Realty Trust during the second quarter worth about $25,000. Mattson Financial Services LLC bought a new position in shares of Independence Realty Trust during the 2nd quarter valued at about $28,000. V Square Quantitative Management LLC acquired a new position in shares of Independence Realty Trust in the 3rd quarter worth approximately $28,000. Pathway Financial Advisers LLC bought a new stake in shares of Independence Realty Trust in the 1st quarter worth approximately $31,000. Finally, Blue Trust Inc. lifted its stake in Independence Realty Trust by 295.9% during the third 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.

Analyst Ratings Changes

Several research firms have issued reports on IRT. Deutsche Bank Aktiengesellschaft upped their price target on Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $19.00 to $21.00 in a research note on Friday. BTIG Research boosted their price target on shares of Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, August 12th. JMP Securities increased their target price on Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Monday, September 9th. Finally, KeyCorp lifted their target price on Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.43.

Independence Realty Trust Trading Up 0.6 %

IRT opened at $20.97 on Friday. The stock has a fifty day moving average price of $20.11 and a 200 day moving average price of $18.93. Independence Realty Trust, Inc. has a 1 year low of $12.99 and a 1 year high of $21.23. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 2.99 and a beta of 1.17.

Independence Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.64 annualized dividend and a dividend yield of 3.05%.

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.