Independence Realty Trust (NYSE:IRT) Sets New 52-Week High at $18.96

Independence Realty Trust, Inc. (NYSE:IRT)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $18.96 and last traded at $18.79, with a volume of 10204 shares. The stock had previously closed at $18.73.

Independence Realty Trust Stock Up 0.2 %

The firm’s 50-day simple moving average is $17.52 and its 200 day simple moving average is $16.16. The stock has a market capitalization of $4.22 billion, a P/E ratio of -624.46, a PEG ratio of 2.70 and a beta of 1.14.

Independence Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 28th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.41%. The ex-dividend date is Friday, June 28th. Independence Realty Trust’s dividend payout ratio (DPR) is presently -2,132.62%.

Hedge Funds Weigh In On Independence Realty Trust

A number of institutional investors have recently bought and sold shares of the stock. Pathway Financial Advisers LLC purchased a new position in Independence Realty Trust during the 1st quarter valued at about $31,000. Lazard Asset Management LLC purchased a new position in Independence Realty Trust during the 1st quarter valued at about $40,000. Fifth Third Bancorp grew its stake in Independence Realty Trust by 83.9% during the 4th quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 1,183 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Independence Realty Trust by 146.6% in the 1st quarter. Advisors Asset Management Inc. now owns 2,833 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 1,684 shares in the last quarter. Finally, EdgeRock Capital LLC bought a new stake in shares of Independence Realty Trust in the 4th quarter valued at approximately $60,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

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.