Bleakley Financial Group LLC Trims Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Bleakley Financial Group LLC lessened its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 17.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 10,278 shares of the real estate investment trust’s stock after selling 2,113 shares during the quarter. Bleakley Financial Group LLC’s holdings in Independence Realty Trust were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in IRT. Ashton Thomas Private Wealth LLC acquired a new stake in Independence Realty Trust during the second quarter valued at $25,000. Mattson Financial Services LLC acquired a new stake in shares of Independence Realty Trust in the second quarter valued at about $28,000. Pathway Financial Advisers LLC acquired a new stake in shares of Independence Realty Trust in the first quarter valued at about $31,000. Lazard Asset Management LLC acquired a new stake in shares of Independence Realty Trust in the first quarter valued at about $40,000. Finally, Advisors Asset Management Inc. boosted its position in Independence Realty Trust by 146.6% during the first quarter. Advisors Asset Management Inc. now owns 2,833 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 1,684 shares during the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Up 0.1 %

NYSE IRT opened at $19.92 on Friday. The firm has a 50 day moving average of $20.11 and a two-hundred day moving average of $18.48. Independence Realty Trust, Inc. has a 52 week low of $11.61 and a 52 week high of $21.20. The stock has a market capitalization of $4.48 billion, a PE ratio of -664.00, a price-to-earnings-growth ratio of 2.79 and a beta of 1.17.

Independence Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were given a $0.16 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 3.21%. Independence Realty Trust’s dividend payout ratio (DPR) is -2,133.33%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. KeyCorp boosted their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. JMP Securities boosted their price target on shares of 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, BTIG Research boosted their price target 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. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Independence Realty Trust has a consensus rating of “Moderate Buy” and an average price target of $19.57.

About Independence Realty Trust

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.