Congress Asset Management Co. MA Buys 1,722 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Congress Asset Management Co. MA increased its position in Independence Realty Trust, Inc. (NYSE:IRT) by 1.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,737 shares of the real estate investment trust’s stock after acquiring an additional 1,722 shares during the quarter. Congress Asset Management Co. MA owned about 0.06% of Independence Realty Trust worth $2,125,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Aurora Investment Managers LLC. grew its position in shares of Independence Realty Trust by 214.2% during the 1st quarter. Aurora Investment Managers LLC. now owns 104,898 shares of the real estate investment trust’s stock valued at $1,692,000 after purchasing an additional 71,516 shares in the last quarter. Pensionfund Sabic grew its position in Independence Realty Trust by 25.7% during the first quarter. Pensionfund Sabic now owns 44,000 shares of the real estate investment trust’s stock worth $710,000 after buying an additional 9,000 shares in the last quarter. Pensionfund DSM Netherlands grew its position in Independence Realty Trust by 9.8% during the first quarter. Pensionfund DSM Netherlands now owns 90,000 shares of the real estate investment trust’s stock worth $1,452,000 after buying an additional 8,000 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Independence Realty Trust by 57.3% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 66,544 shares of the real estate investment trust’s stock worth $1,025,000 after acquiring an additional 24,238 shares during the last quarter. Finally, SageView Advisory Group LLC purchased a new stake in shares of Independence Realty Trust in the 4th quarter valued at about $297,000. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

NYSE:IRT opened at $18.10 on Friday. The business has a 50 day moving average of $16.73 and a 200 day moving average of $15.82. Independence Realty Trust, Inc. has a 1-year low of $11.61 and a 1-year high of $18.56.

Independence Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, June 28th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Friday, June 28th. Independence Realty Trust’s payout ratio is presently -2,132.62%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IRT. TheStreet cut shares of Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. JMP Securities increased their price target on shares of Independence Realty Trust from $15.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Independence Realty Trust has a consensus rating of “Hold” and an average target price of $17.00.

Independence Realty Trust 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.