Short Interest in Independence Realty Trust, Inc. (NYSE:IRT) Rises By 26.4%

Independence Realty Trust, Inc. (NYSE:IRT) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 11,150,000 shares, an increase of 26.4% from the May 31st total of 8,820,000 shares. Based on an average trading volume of 2,500,000 shares, the short-interest ratio is currently 4.5 days.

Independence Realty Trust Trading Up 0.3 %

NYSE:IRT opened at $18.79 on Tuesday. Independence Realty Trust has a 12-month low of $11.61 and a 12-month high of $18.83. The stock has a 50-day moving average price of $17.01 and a 200 day moving average price of $15.97.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Investors 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 3.41%. Independence Realty Trust’s payout ratio is presently -2,132.62%.

Hedge Funds Weigh In On Independence Realty Trust

A number of large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue grew its holdings in shares of Independence Realty Trust by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 131,019 shares of the real estate investment trust’s stock worth $2,112,000 after purchasing an additional 671 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its holdings in shares of Independence Realty Trust by 1.0% in the first quarter. Taylor Frigon Capital Management LLC now owns 78,646 shares of the real estate investment trust’s stock valued at $1,269,000 after purchasing an additional 750 shares during the period. Penserra Capital Management LLC grew 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. Lindbrook Capital LLC increased its holdings in Independence Realty Trust by 19.8% during the 4th quarter. Lindbrook Capital LLC now owns 6,379 shares of the real estate investment trust’s stock worth $98,000 after purchasing an additional 1,054 shares during the period. Finally, Bailard Inc. grew its position in shares of Independence Realty Trust by 6.5% during the 4th quarter. Bailard Inc. now owns 18,215 shares of the real estate investment trust’s stock worth $279,000 after buying an additional 1,115 shares in the last quarter. 88.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, JMP Securities increased their price target 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. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.