International Assets Investment Management LLC Makes New $2.23 Million Investment in Independence Realty Trust, Inc. (NYSE:IRT)

International Assets Investment Management LLC bought a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 145,748 shares of the real estate investment trust’s stock, valued at approximately $2,230,000. International Assets Investment Management LLC owned about 0.06% of Independence Realty Trust as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in shares of Independence Realty Trust during the 4th quarter valued at approximately $31,000. Fifth Third Bancorp boosted its position in shares of Independence Realty Trust by 83.9% during the 4th quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 1,183 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Independence Realty Trust by 176.2% during the 2nd quarter. IFP Advisors Inc now owns 3,000 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 1,914 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Independence Realty Trust by 36.1% during the 4th quarter. Sound Income Strategies LLC now owns 4,850 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 1,287 shares during the last quarter. Finally, Hollencrest Capital Management bought a new position in shares of Independence Realty Trust during the 1st quarter valued at approximately $88,000. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Stock Up 0.5 %

IRT stock opened at $15.62 on Friday. The business’s fifty day simple moving average is $15.58 and its two-hundred day simple moving average is $14.72. Independence Realty Trust, Inc. has a twelve month low of $11.61 and a twelve month high of $18.77. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of -223.11, a PEG ratio of 2.27 and a beta of 1.07.

Independence Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, March 29th were paid a $0.16 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.64 dividend on an annualized basis and a yield of 4.10%. Independence Realty Trust’s payout ratio is -914.16%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JMP Securities increased their target price on Independence Realty Trust from $15.00 to $17.00 and gave the company a “market outperform” rating in a research report on Wednesday, March 6th. Barclays lowered their price target on Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. Royal Bank of Canada raised their price target on Independence Realty Trust from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. TheStreet downgraded Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Independence Realty Trust in a research report on Tuesday, January 30th. They issued a “buy” rating and a $18.00 price target for the company. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $17.00.

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.