B. Riley Wealth Advisors Inc. Reduces Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

B. Riley Wealth Advisors Inc. trimmed its position in Independence Realty Trust, Inc. (NYSE:IRT) by 9.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,248 shares of the real estate investment trust’s stock after selling 4,058 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Independence Realty Trust were worth $723,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisor Resource Council acquired a new stake in shares of Independence Realty Trust during the first quarter worth $936,000. Bayesian Capital Management LP purchased a new stake in Independence Realty Trust in the 1st quarter valued at about $499,000. Vanguard Group Inc. grew its holdings in Independence Realty Trust by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 32,744,270 shares of the real estate investment trust’s stock valued at $528,165,000 after buying an additional 343,334 shares during the period. Boston Partners acquired a new position in shares of Independence Realty Trust during the 1st quarter valued at about $892,000. Finally, Lighthouse Investment Partners LLC lifted its holdings in shares of Independence Realty Trust by 22.9% during the 4th quarter. Lighthouse Investment Partners LLC now owns 725,000 shares of the real estate investment trust’s stock worth $11,092,000 after acquiring an additional 135,000 shares during the period. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IRT has been the subject of a number of recent analyst reports. BTIG Research boosted their target price on shares of Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. JMP Securities increased their target price on Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Monday, September 9th. Finally, KeyCorp boosted their price target on Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat, Independence Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.57.

Independence Realty Trust Stock Performance

NYSE:IRT opened at $19.53 on Friday. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of -651.00, a price-to-earnings-growth ratio of 3.10 and a beta of 1.17. Independence Realty Trust, Inc. has a one year low of $11.61 and a one year high of $21.20. The business’s 50-day simple moving average is $20.07 and its 200 day simple moving average is $18.13.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Monday, September 30th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Monday, September 30th. Independence Realty Trust’s payout ratio is currently -2,133.33%.

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.