Independence Realty Trust, Inc. (NYSE:IRT – Get Free Report) has earned an average rating of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $19.57.
IRT has been the subject of several recent research reports. BTIG Research upped their target price on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, August 12th. KeyCorp increased their target price on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. JMP Securities raised their target price on Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a research note on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th.
Institutional Investors Weigh In On Independence Realty Trust
Independence Realty Trust Price Performance
Independence Realty Trust stock opened at $20.50 on Friday. Independence Realty Trust has a 12 month low of $11.61 and a 12 month high of $21.20. The company has a fifty day moving average price of $19.93 and a two-hundred day moving average price of $17.95. The company has a market cap of $4.61 billion, a PE ratio of -683.17, a P/E/G ratio of 3.10 and a beta of 1.17.
Independence Realty Trust Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Monday, September 30th. Independence Realty Trust’s dividend payout ratio (DPR) is -2,133.33%.
About Independence Realty Trust
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.
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