Global Assets Advisory LLC Invests $405,000 in Independence Realty Trust, Inc. (NYSE:IRT)

Global Assets Advisory LLC purchased a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 25,086 shares of the real estate investment trust’s stock, valued at approximately $405,000.

Other hedge funds have also recently bought and sold shares of the company. Congress Asset Management Co. MA boosted its position in Independence Realty Trust by 1.3% during the first quarter. Congress Asset Management Co. MA now owns 131,737 shares of the real estate investment trust’s stock valued at $2,125,000 after purchasing an additional 1,722 shares during the last quarter. Aurora Investment Managers LLC. grew its position in shares of Independence Realty Trust by 214.2% in the first quarter. Aurora Investment Managers LLC. now owns 104,898 shares of the real estate investment trust’s stock valued at $1,692,000 after purchasing an additional 71,516 shares during the last quarter. Pensionfund Sabic increased its stake in shares of Independence Realty Trust by 25.7% in the first quarter. Pensionfund Sabic now owns 44,000 shares of the real estate investment trust’s stock worth $710,000 after purchasing an additional 9,000 shares during the period. Pensionfund DSM Netherlands lifted its position in shares of Independence Realty Trust by 9.8% during the 1st quarter. Pensionfund DSM Netherlands now owns 90,000 shares of the real estate investment trust’s stock worth $1,452,000 after purchasing an additional 8,000 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in Independence Realty Trust by 57.3% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 66,544 shares of the real estate investment trust’s stock valued at $1,025,000 after purchasing an additional 24,238 shares during the period. 88.25% of the stock is owned by hedge funds and other institutional investors.

Independence Realty Trust Stock Performance

IRT opened at $18.46 on Friday. Independence Realty Trust, Inc. has a 52 week low of $11.61 and a 52 week high of $18.56. The company has a fifty day moving average price of $16.89 and a two-hundred day moving average price of $15.91. The firm has a market capitalization of $4.15 billion, a PE ratio of -615.13, a P/E/G ratio of 2.67 and a beta of 1.12.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Investors 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 annualized dividend and a dividend yield of 3.47%. Independence Realty Trust’s dividend payout ratio is presently -2,132.62%.

Analyst Ratings Changes

A number of brokerages have recently commented on IRT. JMP Securities upped their price target on Independence Realty Trust from $15.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday, March 6th. TheStreet lowered Independence Realty Trust from a “c” rating to a “d+” rating in a research note on Friday, March 1st. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.