Creative Planning Increases Position in Independence Realty Trust, Inc. (NYSE:IRT)

Creative Planning raised its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 12.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,962 shares of the real estate investment trust’s stock after buying an additional 11,338 shares during the period. Creative Planning’s holdings in Independence Realty Trust were worth $1,855,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IRT. Verition Fund Management LLC raised its stake in shares of Independence Realty Trust by 707.1% during the fourth quarter. Verition Fund Management LLC now owns 479,916 shares of the real estate investment trust’s stock valued at $7,343,000 after acquiring an additional 420,451 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Independence Realty Trust by 19.3% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,960,798 shares of the real estate investment trust’s stock valued at $45,300,000 after acquiring an additional 479,379 shares in the last quarter. First Financial Bankshares Inc bought a new stake in shares of Independence Realty Trust during the fourth quarter valued at approximately $617,000. SageView Advisory Group LLC bought a new stake in shares of Independence Realty Trust during the fourth quarter valued at approximately $297,000. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of Independence Realty Trust by 57.3% during the fourth 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 acquiring an additional 24,238 shares in the last quarter. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Down 1.6 %

IRT stock opened at $19.22 on Tuesday. The company’s 50-day simple moving average is $20.07 and its 200-day simple moving average is $18.16. Independence Realty Trust, Inc. has a 52-week low of $11.61 and a 52-week high of $21.20. The firm has a market cap of $4.33 billion, a P/E ratio of -640.67, a PEG ratio of 3.10 and a beta of 1.17.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Monday, September 30th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.64 annualized dividend and a dividend yield of 3.33%. Independence Realty Trust’s dividend payout ratio (DPR) is presently -2,133.33%.

Analysts Set New Price Targets

IRT has been the subject of a number of recent research reports. JMP Securities boosted their price objective 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. BTIG Research boosted their price objective on shares of Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, KeyCorp upped their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat, 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.