Moors & Cabot Inc. Has $234,000 Position in Independence Realty Trust, Inc. (NYSE:IRT)

Moors & Cabot Inc. lowered its position in Independence Realty Trust, Inc. (NYSE:IRT) by 24.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,488 shares of the real estate investment trust’s stock after selling 4,000 shares during the period. Moors & Cabot Inc.’s holdings in Independence Realty Trust were worth $234,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Independence Realty Trust by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,308,557 shares of the real estate investment trust’s stock worth $62,001,000 after acquiring an additional 176,119 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Independence Realty Trust during the second quarter worth $22,464,000. Envestnet Asset Management Inc. increased its position in Independence Realty Trust by 52.9% during the second quarter. Envestnet Asset Management Inc. now owns 111,075 shares of the real estate investment trust’s stock worth $2,082,000 after acquiring an additional 38,441 shares during the period. Federated Hermes Inc. increased its position in Independence Realty Trust by 327.6% during the second quarter. Federated Hermes Inc. now owns 113,985 shares of the real estate investment trust’s stock worth $2,136,000 after acquiring an additional 87,329 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in Independence Realty Trust by 58.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 85,089 shares of the real estate investment trust’s stock worth $1,541,000 after acquiring an additional 31,360 shares during the period. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

Shares of NYSE:IRT opened at $20.93 on Friday. Independence Realty Trust, Inc. has a 52 week low of $11.61 and a 52 week high of $21.20. The company’s fifty day moving average is $19.78 and its 200-day moving average is $17.81. The company has a market capitalization of $4.71 billion, a PE ratio of -697.50, a P/E/G ratio of 3.00 and a beta of 1.17.

Independence Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Monday, September 30th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.64 annualized dividend and a dividend yield of 3.06%. Independence Realty Trust’s dividend payout ratio is presently -2,133.33%.

Analysts Set New Price Targets

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