CHICAGO TRUST Co NA Boosts Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

CHICAGO TRUST Co NA raised its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 25.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 12,500 shares of the real estate investment trust’s stock after buying an additional 2,500 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Independence Realty Trust were worth $234,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IRT. Raymond James & Associates purchased a new stake in shares of Independence Realty Trust during the fourth quarter worth about $158,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of Independence Realty Trust by 4.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 54,824 shares of the real estate investment trust’s stock worth $839,000 after acquiring an additional 2,565 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Independence Realty Trust by 83.9% during the fourth quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 1,183 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Independence Realty Trust during the fourth quarter worth about $2,230,000. Finally, Allworth Financial LP grew its stake in shares of Independence Realty Trust by 37.0% during the fourth quarter. Allworth Financial LP now owns 4,237 shares of the real estate investment trust’s stock worth $65,000 after acquiring an additional 1,145 shares during the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JMP Securities boosted their price target on Independence Realty Trust from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.60.

Independence Realty Trust Stock Up 0.4 %

Shares of Independence Realty Trust stock traded up $0.08 on Friday, reaching $19.67. 1,295,282 shares of the stock were exchanged, compared to its average volume of 2,371,104. Independence Realty Trust, Inc. has a twelve month low of $11.61 and a twelve month high of $20.08. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of -655.67, a PEG ratio of 2.81 and a beta of 1.14. The business has a 50 day moving average price of $18.51 and a two-hundred day moving average price of $16.72.

Independence Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, June 28th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Friday, June 28th. Independence Realty Trust’s dividend payout ratio (DPR) is -2,133.33%.

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.