B. Riley Wealth Advisors Inc. Sells 584 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

B. Riley Wealth Advisors Inc. trimmed its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,664 shares of the real estate investment trust’s stock after selling 584 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Independence Realty Trust were worth $772,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IRT. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Independence Realty Trust by 67.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 24,588 shares of the real estate investment trust’s stock worth $461,000 after buying an additional 9,904 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Independence Realty Trust by 1.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 115,090 shares of the real estate investment trust’s stock valued at $2,176,000 after purchasing an additional 1,866 shares in the last quarter. EdgeRock Capital LLC purchased a new position in shares of Independence Realty Trust during the 2nd quarter valued at $76,000. Bank of New York Mellon Corp boosted its stake in Independence Realty Trust by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 2,468,193 shares of the real estate investment trust’s stock valued at $46,254,000 after buying an additional 68,117 shares during the period. Finally, Bailard Inc. purchased a new position in Independence Realty Trust during the second quarter worth about $206,000. 88.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on IRT shares. Deutsche Bank Aktiengesellschaft lifted their price target 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. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $19.00 to $21.00 in a report on Friday, November 15th. JMP Securities upped their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Monday, September 9th. Barclays assumed coverage on Independence Realty Trust in a research note on Tuesday. They set an “equal weight” rating and a $23.00 price target for the company. Finally, KeyCorp increased 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. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.14.

Independence Realty Trust Price Performance

IRT opened at $21.18 on Wednesday. The stock’s 50 day simple moving average is $20.60 and its 200 day simple moving average is $19.76. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 78.44, a PEG ratio of 3.07 and a beta of 1.19. Independence Realty Trust, Inc. has a 1 year low of $14.07 and a 1 year high of $22.26.

Independence Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Tuesday, December 31st. Independence Realty Trust’s payout ratio is 237.04%.

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.