Barclays Has Lowered Expectations for Independence Realty Trust (NYSE:IRT) Stock Price

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

Other research analysts have also issued research reports about the company. JMP Securities reiterated a “market outperform” rating and issued a $22.00 price target on shares of Independence Realty Trust in a research report on Tuesday, February 11th. BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $19.00 to $21.00 in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.33.

Independence Realty Trust Price Performance

Independence Realty Trust stock opened at $20.65 on Wednesday. Independence Realty Trust has a 1 year low of $14.35 and a 1 year high of $22.26. The firm’s 50 day moving average price is $19.73 and its 200-day moving average price is $20.12. The stock has a market cap of $4.65 billion, a P/E ratio of 114.70, a PEG ratio of 2.87 and a beta of 1.21.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (EPS) 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%. As a group, equities analysts expect that Independence Realty Trust will post 1.19 EPS for the current year.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Tuesday, December 31st. Independence Realty Trust’s dividend payout ratio (DPR) is presently 355.56%.

Institutional Trading of Independence Realty Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC increased its stake in 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 worth $26,000 after buying an additional 521 shares during the period. Assetmark Inc. purchased a new stake in Independence Realty Trust in the 3rd quarter valued at about $41,000. Blue Trust Inc. grew its stake in Independence Realty Trust by 295.9% in the 3rd quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 1,527 shares in the last quarter. SRS Capital Advisors Inc. increased its position in shares of Independence Realty Trust by 627.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 2,008 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in shares of Independence Realty Trust by 67.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 1,000 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors.

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.