Advisor Resource Council Buys New Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Advisor Resource Council purchased a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 61,172 shares of the real estate investment trust’s stock, valued at approximately $936,000.

Other large investors also recently modified their holdings of the company. Invesco Ltd. grew its stake in Independence Realty Trust by 2.5% during the third quarter. Invesco Ltd. now owns 582,192 shares of the real estate investment trust’s stock worth $8,191,000 after buying an additional 14,316 shares during the last quarter. Federated Hermes Inc. raised its position in Independence Realty Trust by 35.5% in the 3rd quarter. Federated Hermes Inc. now owns 32,011 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 8,393 shares during the last quarter. United Services Automobile Association raised its position in Independence Realty Trust by 54.8% in the 3rd quarter. United Services Automobile Association now owns 17,127 shares of the real estate investment trust’s stock valued at $241,000 after purchasing an additional 6,066 shares during the last quarter. Penserra Capital Management LLC boosted its stake in Independence Realty Trust by 2.5% in the third quarter. Penserra Capital Management LLC now owns 31,415 shares of the real estate investment trust’s stock worth $441,000 after purchasing an additional 774 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Independence Realty Trust by 8.1% during the third quarter. Public Employees Retirement System of Ohio now owns 322,803 shares of the real estate investment trust’s stock worth $4,542,000 after purchasing an additional 24,287 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, JMP Securities lifted their price target on Independence Realty Trust from $15.00 to $17.00 and gave the company a “market outperform” rating in a report on Wednesday, March 6th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.00.

Independence Realty Trust Stock Down 1.3 %

IRT traded down $0.25 during mid-day trading on Thursday, reaching $18.65. The stock had a trading volume of 2,035,734 shares, compared to its average volume of 3,370,803. The firm’s fifty day simple moving average is $17.13 and its two-hundred day simple moving average is $16.01. Independence Realty Trust, Inc. has a 52 week low of $11.61 and a 52 week high of $18.96.

Independence Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.64 annualized dividend and a yield of 3.43%. Independence Realty Trust’s dividend payout ratio is currently -2,132.62%.

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.