Independence Realty Trust (NYSE:IRT) Given New $20.00 Price Target at Barclays

Independence Realty Trust (NYSE:IRT) had its price target cut by Barclays from $21.00 to $20.00 in a research report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Several other equities research analysts have also recently issued reports on the stock. BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $19.00 to $21.00 in a report on Friday, November 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday, February 11th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Independence Realty Trust has an average rating of “Moderate Buy” and an average price target of $21.33.

Independence Realty Trust Trading Down 0.7 %

Independence Realty Trust stock opened at $20.65 on Wednesday. Independence Realty Trust has a 12 month low of $14.35 and a 12 month high of $22.26. The stock has a fifty day simple moving average of $19.73 and a two-hundred day simple moving average of $20.12. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 114.70, a PEG ratio of 2.87 and a beta of 1.21.

Independence Realty Trust (NYSE:IRT) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.24. Independence Realty Trust had a return on equity of 1.11% and a net margin of 6.15%. On average, equities research analysts forecast that Independence Realty Trust will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were issued a $0.16 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.64 dividend on an annualized basis and a yield of 3.10%. Independence Realty Trust’s dividend payout ratio is currently 355.56%.

Institutional Trading of Independence Realty Trust

Hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC grew its stake in shares of Independence Realty Trust by 66.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 521 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Independence Realty Trust by 0.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,984 shares of the real estate investment trust’s stock valued at $2,050,000 after purchasing an additional 526 shares in the last quarter. Amundi boosted its position in shares of Independence Realty Trust by 0.5% in the fourth quarter. Amundi now owns 122,544 shares of the real estate investment trust’s stock worth $2,304,000 after purchasing an additional 597 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Independence Realty Trust by 0.5% in the fourth quarter. State of Alaska Department of Revenue now owns 133,831 shares of the real estate investment trust’s stock worth $2,654,000 after purchasing an additional 643 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Independence Realty Trust by 33.9% during the 4th quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 692 shares during the period. Institutional investors 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.