Harbour Investments Inc. Lowers Position in Independence Realty Trust, Inc. (NYSE:IRT)

Harbour Investments Inc. decreased its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 7.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 34,741 shares of the real estate investment trust’s stock after selling 2,904 shares during the period. Harbour Investments Inc.’s holdings in Independence Realty Trust were worth $712,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in Independence Realty Trust in the second quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Independence Realty Trust during the 3rd quarter worth $28,000. Mattson Financial Services LLC bought a new stake in Independence Realty Trust during the second quarter valued at about $28,000. Pathway Financial Advisers LLC bought a new stake in Independence Realty Trust during the first quarter valued at about $31,000. Finally, Assetmark Inc. purchased a new position in Independence Realty Trust in the third quarter valued at about $41,000. Institutional investors own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

IRT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. BTIG Research boosted their price target on Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. KeyCorp lifted their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. JMP Securities boosted their target price 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, BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $19.00 to $21.00 in a report on Friday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.43.

Independence Realty Trust Price Performance

IRT stock opened at $20.97 on Friday. The company has a market capitalization of $4.72 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. Independence Realty Trust, Inc. has a 12 month low of $12.99 and a 12 month high of $21.23. The firm’s fifty day simple moving average is $20.11 and its 200-day simple moving average is $18.93.

Independence Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.05%. The ex-dividend date was Monday, September 30th.

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.