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

Cetera Advisors LLC grew its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 132.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 241,924 shares of the real estate investment trust’s stock after buying an additional 138,028 shares during the quarter. Cetera Advisors LLC’s holdings in Independence Realty Trust were worth $3,902,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Fifth Third Bancorp raised its holdings in shares of Independence Realty Trust by 83.9% in the fourth quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 1,183 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Independence Realty Trust in the 1st quarter valued at $40,000. Advisors Asset Management Inc. increased its stake in Independence Realty Trust by 146.6% in the 1st quarter. Advisors Asset Management Inc. now owns 2,833 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 1,684 shares during the last quarter. EdgeRock Capital LLC acquired a new position in shares of Independence Realty Trust during the 4th quarter worth about $60,000. Finally, Allworth Financial LP grew its holdings in shares of 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 in the last quarter. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Up 1.6 %

Shares of IRT stock traded up $0.31 on Friday, reaching $19.50. The stock had a trading volume of 2,644,462 shares, compared to its average volume of 2,059,655. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $19.83. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of -649.78, a P/E/G ratio of 2.81 and a beta of 1.14. The firm’s 50-day moving average is $18.19 and its two-hundred day moving average is $16.58.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, June 28th were paid a $0.16 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.64 annualized dividend and a yield of 3.28%. Independence Realty Trust’s dividend payout ratio is -2,132.62%.

Wall Street Analyst Weigh In

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

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.