Teachers Retirement System of The State of Kentucky Decreases Position in Independence Realty Trust, Inc. (NYSE:IRT)

Teachers Retirement System of The State of Kentucky lowered its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,872 shares of the real estate investment trust’s stock after selling 2,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Independence Realty Trust were worth $1,497,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Independence Realty Trust in the second quarter valued at about $25,000. Pathway Financial Advisers LLC purchased a new stake in shares of Independence Realty Trust in the first quarter worth about $31,000. Lazard Asset Management LLC purchased a new stake in Independence Realty Trust during the 1st quarter worth $40,000. Advisors Asset Management Inc. boosted its stake in shares of Independence Realty Trust by 146.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,833 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 1,684 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in Independence Realty Trust in the second quarter worth about $64,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Down 0.8 %

NYSE IRT opened at $19.53 on Friday. The company has a market capitalization of $4.40 billion, a P/E ratio of -651.00, a P/E/G ratio of 3.10 and a beta of 1.17. Independence Realty Trust, Inc. has a 12-month low of $11.61 and a 12-month high of $21.20. The firm has a 50-day moving average price of $20.07 and a two-hundred day moving average price of $18.13.

Independence Realty Trust Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on IRT shares. JMP Securities upped their price objective 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. BTIG Research lifted their price objective on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. KeyCorp increased their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft upped 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. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Independence Realty Trust has a consensus rating of “Moderate Buy” and a consensus 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.