B. Riley Wealth Advisors Inc. Grows Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

B. Riley Wealth Advisors Inc. increased its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 57.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,544 shares of the real estate investment trust’s stock after purchasing an additional 24,238 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Independence Realty Trust were worth $1,025,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp raised its holdings in shares of Independence Realty Trust by 83.9% during the fourth quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 1,183 shares during the last quarter. EdgeRock Capital LLC purchased a new position in shares of Independence Realty Trust during the fourth quarter valued at approximately $60,000. Allworth Financial LP raised its holdings in shares of Independence Realty Trust by 37.0% during the fourth quarter. Allworth Financial LP now owns 4,237 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 1,145 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of Independence Realty Trust by 36.1% during the fourth quarter. Sound Income Strategies LLC now owns 4,850 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 1,287 shares during the last quarter. Finally, Lindbrook Capital LLC raised its holdings in shares of Independence Realty Trust by 19.8% during the fourth quarter. Lindbrook Capital LLC now owns 6,379 shares of the real estate investment trust’s stock valued at $98,000 after purchasing an additional 1,054 shares during the last quarter. 88.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IRT shares. JMP Securities boosted their target price on shares of 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. TheStreet lowered shares of Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Independence Realty Trust presently has a consensus rating of “Hold” and an average price target of $17.00.

Independence Realty Trust Price Performance

IRT opened at $18.06 on Friday. The firm has a market cap of $4.06 billion, a P/E ratio of -601.80, a PEG ratio of 2.67 and a beta of 1.12. Independence Realty Trust, Inc. has a 1-year low of $11.61 and a 1-year high of $18.56. The company has a 50 day simple moving average of $16.69 and a two-hundred day simple moving average of $15.78.

Independence Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 28th will be given a $0.16 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.54%. Independence Realty Trust’s payout ratio is currently -2,132.62%.

Independence Realty Trust 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.