Avantax Advisory Services Inc. Has $311,000 Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Avantax Advisory Services Inc. boosted its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 13.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,654 shares of the real estate investment trust’s stock after acquiring an additional 1,846 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Independence Realty Trust were worth $311,000 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. Essential Planning LLC. acquired a new stake in shares of Independence Realty Trust during the 4th quarter worth about $264,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Independence Realty Trust by 47.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 147,182 shares of the real estate investment trust’s stock worth $2,920,000 after buying an additional 47,198 shares during the last quarter. AlphaQuest LLC increased its holdings in shares of Independence Realty Trust by 353.0% during the fourth quarter. AlphaQuest LLC now owns 41,704 shares of the real estate investment trust’s stock worth $827,000 after buying an additional 32,497 shares in the last quarter. Amundi raised its stake in shares of Independence Realty Trust by 0.5% in the fourth quarter. Amundi now owns 122,544 shares of the real estate investment trust’s stock valued at $2,304,000 after acquiring an additional 597 shares during the last quarter. Finally, HM Payson & Co. raised its stake in shares of Independence Realty Trust by 119.8% in the fourth quarter. HM Payson & Co. now owns 3,978 shares of the real estate investment trust’s stock valued at $79,000 after acquiring an additional 2,168 shares during the last quarter. 88.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Barclays dropped their price target on Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Jefferies Financial Group upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and raised their target price for the company from $20.00 to $24.00 in a research note on Monday, March 10th. JMP Securities reissued a “market outperform” rating and set a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday, February 11th. Finally, Wells Fargo & Company initiated coverage on shares of Independence Realty Trust in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $24.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Independence Realty Trust Stock Down 0.1 %

Shares of IRT stock opened at $20.99 on Wednesday. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 116.61, a PEG ratio of 2.91 and a beta of 1.19. Independence Realty Trust, Inc. has a 12 month low of $15.25 and a 12 month high of $22.26. The stock has a 50-day moving average price of $20.23 and a 200 day moving average price of $20.30.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate of $0.08 by $0.24. Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.11%. Sell-side analysts predict that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, March 28th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, March 28th. Independence Realty Trust’s dividend payout ratio (DPR) is currently 355.56%.

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.