Several hedge funds have recently updated their shares in Independence Realty Trust. American Trust invested $231,000, while Creative Planning increased its stake by 12.9%, now owning 98,962 shares valued at $1.85 million after buying 11,338 additional shares. Algert Global purchased $592,000 worth, Makena Capital Management invested $10 million, and Employees Retirement System of Texas added $2.06 million in the second quarter. Overall, institutional investors hold 88.25% of the company’s stock.
New Price Targets from Analysts
Research analysts have lifted their price targets for Independence Realty Trust. JMP Securities increased it from $20 to $22, giving a “market outperform” rating. BTIG Research raised it from $18 to $21, rating it a “buy.” KeyCorp also adjusted their target from $20 to $22 and rated it as “overweight.” Deutsche Bank raised its target from $18 to $22, also marking it as a “buy.” There are two sell ratings and six buy ratings, with an average target price of $19.57, according to MarketBeat.
See Our Latest Analysis on IRT
Independence Realty Trust Stock Update
IRT stock opened at $19.68 on Friday. Its 1-year low is $11.61 and its high is $21.20, with a 50-day average of $20.06 and a 200-day average of $18.10. The market cap is $4.43 billion, with a P/E ratio of -656.00 and a beta of 1.17.
Dividend Announcement
The company will pay a quarterly dividend of $0.16 on October 18th, for shareholders recorded on September 30th. This equates to an annual dividend of $0.64, yielding 3.25%. The ex-dividend date is also September 30th. The payout ratio is -2,133.33%.
About Independence Realty Trust
(Free Report) Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that manages multi-family communities in various U.S. markets, including Atlanta, Dallas, and Denver.
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Want to know which hedge funds are investing in IRT? Check out HoldingsChannel.com for the latest 13F filings and insider trades for Independence Realty Trust, Inc. (NYSE:IRT – Free Report).
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