Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its position in Independence Realty Trust, Inc. (NYSE:IRT) by 15.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,930 shares of the real estate investment trust’s stock after selling 6,584 shares during the period. Bank of Montreal Can’s holdings in Independence Realty Trust were worth $657,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. raised its position in shares of Independence Realty Trust by 241.3% during the 2nd quarter. Sei Investments Co. now owns 735,304 shares of the real estate investment trust’s stock worth $13,780,000 after acquiring an additional 519,841 shares in the last quarter. AE Wealth Management LLC lifted its position in shares of Independence Realty Trust by 44.6% during the 2nd quarter. AE Wealth Management LLC now owns 31,621 shares of the real estate investment trust’s stock worth $593,000 after buying an additional 9,754 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Independence Realty Trust during the 2nd quarter worth approximately $226,000. Concorde Asset Management LLC boosted its holdings in shares of Independence Realty Trust by 23.5% in the 2nd quarter. Concorde Asset Management LLC now owns 30,176 shares of the real estate investment trust’s stock valued at $565,000 after buying an additional 5,747 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of Independence Realty Trust by 6.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 42,970 shares of the real estate investment trust’s stock valued at $804,000 after buying an additional 2,624 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Independence Realty Trust Stock Down 0.1 %

IRT opened at $19.19 on Wednesday. Independence Realty Trust, Inc. has a 52 week low of $11.61 and a 52 week high of $21.20. The business has a 50 day moving average price of $20.08 and a two-hundred day moving average price of $18.19. The company has a market cap of $4.32 billion, a PE ratio of -639.67, a P/E/G 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. Stockholders of record on Monday, September 30th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Monday, September 30th. Independence Realty Trust’s dividend payout ratio (DPR) is presently -2,133.33%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IRT. BTIG Research boosted their price target 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. KeyCorp upped 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. Deutsche Bank Aktiengesellschaft raised their price target on 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, JMP Securities boosted their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.57.

About Independence Realty Trust

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.