Independence Realty Trust (NYSE:IRT) Given New $21.00 Price Target at Barclays

Independence Realty Trust (NYSE:IRT) had its price target reduced by Barclays from $23.00 to $21.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Separately, BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $19.00 to $21.00 in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Independence Realty Trust has a consensus rating of “Moderate Buy” and an average target price of $20.86.

Independence Realty Trust Trading Up 0.1 %

Shares of IRT opened at $18.80 on Friday. The company’s 50-day moving average price is $20.36 and its 200 day moving average price is $19.99. Independence Realty Trust has a 12-month low of $14.07 and a 12-month high of $22.26. The firm has a market cap of $4.23 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 2.61 and a beta of 1.21.

Independence Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Tuesday, December 31st.

Hedge Funds Weigh In On Independence Realty Trust

Institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new position in Independence Realty Trust in the third quarter valued at $28,000. Mattson Financial Services LLC acquired a new position in shares of Independence Realty Trust during the second quarter worth about $28,000. Assetmark Inc. purchased a new stake in shares of Independence Realty Trust during the third quarter worth approximately $41,000. Blue Trust Inc. raised its holdings in Independence Realty Trust by 295.9% in the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 1,527 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its stake in Independence Realty Trust by 437.8% in the third quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 2,443 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

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.