Stifel Financial Corp Makes New $576,000 Investment in Independence Realty Trust, Inc. (NYSE:IRT)

Stifel Financial Corp bought a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,084 shares of the real estate investment trust’s stock, valued at approximately $576,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new position in Independence Realty Trust in the 2nd quarter valued at $25,000. Mattson Financial Services LLC acquired a new stake in shares of Independence Realty Trust in the second quarter valued at about $28,000. V Square Quantitative Management LLC purchased a new position in shares of Independence Realty Trust in the third quarter worth about $28,000. Blue Trust Inc. boosted its position in Independence Realty Trust by 295.9% during the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 1,527 shares during the last quarter. Finally, Assetmark Inc. purchased a new stake in Independence Realty Trust during the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Trading Up 0.2 %

Shares of NYSE:IRT opened at $20.36 on Friday. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 75.41, a PEG ratio of 3.07 and a beta of 1.19. Independence Realty Trust, Inc. has a 12-month low of $14.07 and a 12-month high of $22.26. The business has a 50-day moving average price of $20.71 and a 200 day moving average price of $19.87.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Tuesday, December 31st. Independence Realty Trust’s dividend payout ratio is presently 237.04%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IRT. Barclays began coverage on shares of Independence Realty Trust in a research note on Tuesday, December 17th. They issued an “equal weight” rating and a $23.00 target price on the stock. JMP Securities boosted their price objective on 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. KeyCorp raised their target price on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $19.00 to $21.00 in a research report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft upped 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.14.

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.