J.W. Cole Advisors Inc. Trims Position in Independence Realty Trust, Inc. (NYSE:IRT)

J.W. Cole Advisors Inc. trimmed its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 8.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,042 shares of the real estate investment trust’s stock after selling 3,417 shares during the period. J.W. Cole Advisors Inc.’s holdings in Independence Realty Trust were worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new position in Independence Realty Trust during the 2nd quarter valued at about $25,000. Mattson Financial Services LLC bought a new position in shares of Independence Realty Trust during the second quarter valued at approximately $28,000. V Square Quantitative Management LLC purchased a new position in Independence Realty Trust during the third quarter valued at approximately $28,000. Pathway Financial Advisers LLC bought a new position in Independence Realty Trust in the first quarter worth approximately $31,000. Finally, Blue Trust Inc. lifted its holdings in Independence Realty Trust by 295.9% during the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 1,527 shares during the period. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

NYSE:IRT opened at $19.71 on Wednesday. The company has a 50 day moving average price of $20.13 and a 200-day moving average price of $18.60. Independence Realty Trust, Inc. has a 1-year low of $11.61 and a 1-year high of $21.20. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of -657.00, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17.

Independence Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were given a $0.16 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.25%. Independence Realty Trust’s dividend payout ratio (DPR) is currently -2,133.33%.

Analysts Set New Price Targets

IRT has been the topic of a number of recent analyst reports. BTIG Research raised their price target 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 lifted their target price on shares of Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. JMP Securities raised their target price on Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Monday, September 9th. Finally, KeyCorp upped their target price 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. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.57.

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.