Axxcess Wealth Management LLC Invests $263,000 in Independence Realty Trust, Inc. (NYSE:IRT)

Axxcess Wealth Management LLC acquired a new position in Independence Realty Trust, Inc. (NYSE:IRT) during the third quarter, HoldingsChannel reports. The institutional investor acquired 12,850 shares of the real estate investment trust’s stock, valued at approximately $263,000.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Independence Realty Trust in the 2nd quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new stake in shares of Independence Realty Trust in the 3rd quarter worth approximately $28,000. Mattson Financial Services LLC bought a new stake in shares of Independence Realty Trust in the 2nd quarter worth approximately $28,000. Pathway Financial Advisers LLC bought a new stake in shares of Independence Realty Trust in the 1st quarter worth approximately $31,000. Finally, Assetmark Inc. bought a new stake in shares of Independence Realty Trust during the third quarter valued at approximately $41,000. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Trading Down 0.3 %

Independence Realty Trust stock opened at $20.85 on Friday. Independence Realty Trust, Inc. has a 12 month low of $12.99 and a 12 month high of $21.23. The business’s fifty day simple moving average is $20.10 and its two-hundred day simple moving average is $18.92. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 2.95 and a beta of 1.17.

Independence Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Monday, September 30th.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IRT. 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. JMP Securities lifted their price target on Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a research report on Monday, September 9th. BTIG Research lifted their price target on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, KeyCorp boosted their target price on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Independence Realty Trust has a consensus rating of “Moderate Buy” and an average 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.