Cetera Advisors LLC Buys 138,028 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Cetera Advisors LLC boosted its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 132.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 241,924 shares of the real estate investment trust’s stock after acquiring an additional 138,028 shares during the period. Cetera Advisors LLC owned 0.11% of Independence Realty Trust worth $3,902,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Raymond James & Associates purchased a new position in Independence Realty Trust in the 4th quarter worth approximately $158,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Independence Realty Trust by 4.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 54,824 shares of the real estate investment trust’s stock worth $839,000 after buying an additional 2,565 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Independence Realty Trust by 83.9% during the fourth quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 1,183 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Independence Realty Trust during the fourth quarter valued at $2,230,000. Finally, Allworth Financial LP increased its holdings in Independence Realty Trust by 37.0% in the 4th quarter. Allworth Financial LP now owns 4,237 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 1,145 shares during the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JMP Securities raised their price objective on Independence Realty Trust from $17.00 to $20.00 and gave the company a “market outperform” rating in a research report on Friday. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Independence Realty Trust presently has an average rating of “Hold” and a consensus price target of $17.60.

Independence Realty Trust Stock Performance

Shares of NYSE:IRT traded up $0.31 on Friday, reaching $19.50. The company’s stock had a trading volume of 2,644,462 shares, compared to its average volume of 2,059,655. The company has a 50-day simple moving average of $18.19 and a 200 day simple moving average of $16.58. Independence Realty Trust, Inc. has a 52-week low of $11.61 and a 52-week high of $19.83. The company has a market cap of $4.39 billion, a P/E ratio of -649.78, a PEG ratio of 2.81 and a beta of 1.14.

Independence Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, June 28th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.64 dividend on an annualized basis and a yield of 3.28%. Independence Realty Trust’s dividend payout ratio (DPR) is presently -2,132.62%.

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.