Inspire Investing LLC Purchases 5,302 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Inspire Investing LLC boosted its position in Independence Realty Trust, Inc. (NYSE:IRT) by 28.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,150 shares of the real estate investment trust’s stock after buying an additional 5,302 shares during the quarter. Inspire Investing LLC’s holdings in Independence Realty Trust were worth $495,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Blue Zone Wealth Advisors LLC acquired a new stake in shares of Independence Realty Trust in the third quarter valued at approximately $4,437,000. Mather Group LLC. acquired a new stake in Independence Realty Trust in the 3rd quarter valued at $159,000. Handelsbanken Fonder AB lifted 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 worth $1,434,000 after buying an additional 900 shares in the last quarter. Mattson Financial Services LLC acquired a new position in shares of Independence Realty Trust during the 2nd quarter worth about $28,000. Finally, American Trust bought a new position in shares of Independence Realty Trust in the 2nd quarter valued at about $231,000. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

NYSE:IRT opened at $19.46 on Tuesday. The company has a market cap of $4.38 billion, a P/E ratio of -648.50, a P/E/G ratio of 2.79 and a beta of 1.17. The firm’s fifty day moving average price is $20.09 and its two-hundred day moving average price is $18.30. Independence Realty Trust, Inc. has a one year low of $11.61 and a one year high of $21.20.

Independence Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Monday, September 30th will be issued a dividend of $0.16 per share. The ex-dividend date is Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 3.29%. Independence Realty Trust’s payout ratio is currently -2,133.33%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IRT. KeyCorp increased their price target 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 raised their target price on shares of 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. BTIG Research upped their price target on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Independence Realty Trust has an average 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.