Independence Realty Trust, Inc. (NYSE:IRT) Receives $21.14 Consensus Price Target from Analysts

Independence Realty Trust, Inc. (NYSE:IRT) has been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $20.86.

A number of analysts have recently commented on IRT shares. Barclays lowered their target price on Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $19.00 to $21.00 in a report on Friday, November 15th.

Hedge Funds Weigh In On Independence Realty Trust

A number of hedge funds have recently made changes to their positions in IRT. Mattson Financial Services LLC acquired a new position in shares of Independence Realty Trust during the second quarter valued at approximately $28,000. V Square Quantitative Management LLC acquired a new position in shares of Independence Realty Trust during the third quarter valued at approximately $28,000. Blue Trust Inc. raised its holdings in shares of 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 acquiring an additional 1,527 shares during the last quarter. Assetmark Inc. acquired a new position in shares of Independence Realty Trust during the third quarter valued at approximately $41,000. Finally, Avior Wealth Management LLC raised its holdings in shares of Independence Realty Trust by 437.8% during the third quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 2,443 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Down 0.7 %

Shares of IRT opened at $19.09 on Friday. Independence Realty Trust has a 52 week low of $14.07 and a 52 week high of $22.26. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 56.13, a PEG ratio of 2.61 and a beta of 1.21. The stock’s 50-day moving average price is $20.27 and its 200-day moving average price is $20.02.

Independence Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.35%. Independence Realty Trust’s payout ratio is currently 188.24%.

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.