Creative Planning Raises Position in Independence Realty Trust, Inc. (NYSE:IRT)

Creative Planning lifted its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 2.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 101,549 shares of the real estate investment trust’s stock after purchasing an additional 2,587 shares during the period. Creative Planning’s holdings in Independence Realty Trust were worth $2,082,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Taylor Frigon Capital Management LLC boosted its position in Independence Realty Trust by 0.7% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 79,217 shares of the real estate investment trust’s stock valued at $1,485,000 after acquiring an additional 571 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Independence Realty Trust by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 131,019 shares of the real estate investment trust’s stock worth $2,112,000 after acquiring an additional 671 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Independence Realty Trust by 1.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 69,961 shares of the real estate investment trust’s stock worth $1,434,000 after acquiring an additional 900 shares during the last quarter. State of Michigan Retirement System raised its stake in Independence Realty Trust by 2.2% in the 1st quarter. State of Michigan Retirement System now owns 55,100 shares of the real estate investment trust’s stock worth $889,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Independence Realty Trust by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 63,011 shares of the real estate investment trust’s stock valued at $1,181,000 after buying an additional 1,255 shares during the last quarter. Institutional investors own 88.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on IRT shares. BTIG Research lifted their price objective on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, August 12th. JMP Securities lifted their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, KeyCorp boosted their target price on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.57.

Independence Realty Trust Stock Performance

IRT stock opened at $19.78 on Monday. The firm has a market cap of $4.45 billion, a PE ratio of -659.11, a PEG ratio of 2.84 and a beta of 1.17. The firm’s 50 day moving average price is $20.12 and its 200-day moving average price is $18.53. Independence Realty Trust, Inc. has a one year low of $11.61 and a one year high of $21.20.

Independence Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date was Monday, September 30th. Independence Realty Trust’s payout ratio is -2,132.62%.

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.