Captrust Financial Advisors Purchases New Shares in Independence Realty Trust, Inc. (NYSE:IRT)

Captrust Financial Advisors acquired a new position in Independence Realty Trust, Inc. (NYSE:IRT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,950 shares of the real estate investment trust’s stock, valued at approximately $306,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new position in shares of Independence Realty Trust in the second quarter valued at approximately $25,000. V Square Quantitative Management LLC purchased a new position in Independence Realty Trust in the third quarter worth $28,000. Mattson Financial Services LLC bought a new position in Independence Realty Trust in the 2nd quarter valued at $28,000. Assetmark Inc. purchased a new stake in shares of Independence Realty Trust during the 3rd quarter valued at $41,000. Finally, Blue Trust Inc. raised its stake in shares of Independence Realty Trust by 295.9% during the 3rd quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 1,527 shares during the period. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Trading Down 0.2 %

NYSE IRT opened at $21.40 on Friday. The firm has a market cap of $4.82 billion, a PE ratio of 79.26, a price-to-earnings-growth ratio of 3.07 and a beta of 1.19. Independence Realty Trust, Inc. has a 1-year low of $14.07 and a 1-year high of $22.26. The stock has a 50-day moving average of $20.52 and a 200-day moving average of $19.66.

Independence Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend was Monday, September 30th. Independence Realty Trust’s payout ratio is 237.04%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. JMP Securities raised their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a report on Monday, September 9th. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $19.00 to $21.00 in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised their target price on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, KeyCorp boosted their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 6th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.43.

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.