Concorde Asset Management LLC Purchases 5,747 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Concorde Asset Management LLC boosted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 23.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,176 shares of the real estate investment trust’s stock after purchasing an additional 5,747 shares during the period. Concorde Asset Management LLC’s holdings in Independence Realty Trust were worth $565,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Independence Realty Trust during the 2nd quarter worth $25,000. Pathway Financial Advisers LLC acquired a new stake in shares of Independence Realty Trust in the 1st quarter valued at approximately $31,000. Lazard Asset Management LLC acquired a new stake in shares of Independence Realty Trust in the 1st quarter valued at approximately $40,000. Advisors Asset Management Inc. grew its holdings in shares of Independence Realty Trust by 146.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,833 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,684 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in Independence Realty Trust during the 2nd quarter worth approximately $64,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Trading Down 0.1 %

NYSE IRT opened at $20.85 on Thursday. The firm has a market capitalization of $4.69 billion, a PE ratio of -695.00, a price-to-earnings-growth ratio of 3.00 and a beta of 1.17. The business’s 50-day moving average price is $19.69 and its two-hundred day moving average price is $17.75. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $21.18.

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Monday, September 30th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Monday, September 30th. Independence Realty Trust’s payout ratio is presently -2,133.33%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. BTIG Research raised their target price on shares of Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, August 12th. JMP Securities raised their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Monday, September 9th. KeyCorp increased their target price on Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.57.

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.