Creative Planning Raises Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Creative Planning boosted its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,549 shares of the real estate investment trust’s stock after acquiring an additional 2,587 shares during the quarter. Creative Planning’s holdings in Independence Realty Trust were worth $2,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Koshinski Asset Management Inc. lifted its stake in shares of Independence Realty Trust by 144.2% in the 3rd quarter. Koshinski Asset Management Inc. now owns 44,395 shares of the real estate investment trust’s stock valued at $910,000 after purchasing an additional 26,213 shares during the period. Inspire Investing LLC lifted its stake in shares of Independence Realty Trust by 28.1% in the 3rd quarter. Inspire Investing LLC now owns 24,150 shares of the real estate investment trust’s stock valued at $495,000 after purchasing an additional 5,302 shares during the period. Blue Zone Wealth Advisors LLC purchased a new position in shares of Independence Realty Trust in the 3rd quarter valued at approximately $4,437,000. Mather Group LLC. purchased a new position in shares of Independence Realty Trust in the 3rd quarter valued at approximately $159,000. Finally, Handelsbanken Fonder AB increased its position in Independence Realty Trust by 1.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 69,961 shares of the real estate investment trust’s stock valued at $1,434,000 after buying an additional 900 shares in the last quarter. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Independence Realty Trust Trading Down 0.7 %

Shares of Independence Realty Trust stock opened at $19.78 on Monday. The stock has a 50 day moving average of $20.12 and a 200 day moving average of $18.53. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $21.20. The firm has a market cap of $4.45 billion, a PE ratio of -659.11, a PEG ratio of 2.84 and a beta of 1.17.

Independence Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Monday, September 30th. Independence Realty Trust’s payout ratio is presently -2,132.62%.

Analyst Ratings Changes

A number of research analysts recently weighed in on IRT shares. KeyCorp raised their price objective 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. JMP Securities lifted their target price on Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft upped their price objective on Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, BTIG Research boosted their price target on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.57.

Independence Realty Trust 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.