Independence Realty Trust’s (IRT) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Independence Realty Trust (NYSE:IRT) in a research report released on Tuesday,Benzinga reports. The brokerage currently has a $22.00 price target on the real estate investment trust’s stock.

A number of other equities analysts have also weighed in on IRT. BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $19.00 to $21.00 in a research note on Friday, November 15th. Barclays lowered their price target on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.86.

Independence Realty Trust Price Performance

Shares of Independence Realty Trust stock opened at $20.16 on Tuesday. The stock’s 50 day simple moving average is $19.82 and its 200-day simple moving average is $20.06. The stock has a market cap of $4.54 billion, a P/E ratio of 17.43, a P/E/G ratio of 2.77 and a beta of 1.21. Independence Realty Trust has a 1-year low of $14.07 and a 1-year high of $22.26.

Independence Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Tuesday, December 31st.

Hedge Funds Weigh In On Independence Realty Trust

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