Short Interest in Independence Realty Trust, Inc. (NYSE:IRT) Decreases By 5.5%

Independence Realty Trust, Inc. (NYSE:IRT) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 22,510,000 shares, a decline of 5.5% from the September 15th total of 23,820,000 shares. Based on an average daily volume of 1,920,000 shares, the short-interest ratio is presently 11.7 days.

Institutional Trading of Independence Realty Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Independence Realty Trust during the 2nd quarter worth approximately $25,000. Mattson Financial Services LLC bought a new stake in shares of Independence Realty Trust during the 2nd quarter worth approximately $28,000. Pathway Financial Advisers LLC bought a new stake in shares of Independence Realty Trust during the 1st quarter worth approximately $31,000. Lazard Asset Management LLC bought a new position in Independence Realty Trust in the 1st quarter valued at approximately $40,000. Finally, Advisors Asset Management Inc. lifted its stake in Independence Realty Trust by 146.6% in 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 purchasing an additional 1,684 shares during the last quarter. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Up 1.2 %

Shares of NYSE:IRT opened at $19.97 on Thursday. The company’s 50 day moving average price is $20.10 and its two-hundred day moving average price is $18.33. Independence Realty Trust has a 12-month low of $11.61 and a 12-month high of $21.20. The firm has a market cap of $4.49 billion, a PE ratio of -665.67, a PEG ratio of 2.79 and a beta of 1.17.

Independence Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders 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 dividend yield of 3.20%. The ex-dividend date is Monday, September 30th. Independence Realty Trust’s dividend payout ratio (DPR) is presently -2,133.33%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IRT. Deutsche Bank Aktiengesellschaft boosted their price objective 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 upped their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a research note on Monday, September 9th. KeyCorp upped their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, BTIG Research upped their price target on shares of Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.57.

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.