Independence Realty Trust, Inc. (NYSE:IRT – Get Free Report) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 7,100,000 shares, an increase of 6.0% from the October 15th total of 6,700,000 shares. Based on an average daily trading volume, of 1,920,000 shares, the short-interest ratio is currently 3.7 days.
Independence Realty Trust Stock Down 1.1 %
Shares of NYSE IRT traded down $0.14 during midday trading on Friday, reaching $13.11. The company had a trading volume of 1,613,358 shares, compared to its average volume of 1,958,699. The stock has a market cap of $2.95 billion, a PE ratio of 50.94, a price-to-earnings-growth ratio of 5.85 and a beta of 1.06. Independence Realty Trust has a one year low of $11.61 and a one year high of $19.68. The firm’s fifty day moving average price is $13.89 and its 200-day moving average price is $16.07.
Independence Realty Trust Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, September 29th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.88%. The ex-dividend date was Thursday, September 28th. Independence Realty Trust’s dividend payout ratio is 246.16%.
Institutional Investors Weigh In On Independence Realty Trust
Analysts Set New Price Targets
IRT has been the subject of several recent analyst reports. JMP Securities reduced their price objective on shares of Independence Realty Trust from $20.00 to $15.00 and set a “market outperform” rating for the company in a research note on Wednesday, November 1st. StockNews.com assumed coverage on Independence Realty Trust in a research report on Thursday, October 5th. They set a “sell” rating for the company. Finally, Royal Bank of Canada lowered their price target on Independence Realty Trust from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.89.
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.
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