Atlantic Union Bankshares Corp Decreases Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Atlantic Union Bankshares Corp lessened its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,425 shares of the real estate investment trust’s stock after selling 700 shares during the period. Atlantic Union Bankshares Corp’s holdings in Independence Realty Trust were worth $1,218,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Ashton Thomas Private Wealth LLC purchased a new position in Independence Realty Trust in the 2nd quarter worth $25,000. Mattson Financial Services LLC purchased a new position in shares of Independence Realty Trust in the second quarter worth about $28,000. V Square Quantitative Management LLC purchased a new position in shares of Independence Realty Trust in the third quarter worth about $28,000. Pathway Financial Advisers LLC acquired a new stake in shares of Independence Realty Trust during the first quarter worth about $31,000. Finally, Blue Trust Inc. boosted its position in Independence Realty Trust by 295.9% in the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 1,527 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

IRT has been the topic of a number of research reports. BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $19.00 to $21.00 in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft increased their price target on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. JMP Securities boosted their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Monday, September 9th. KeyCorp upped their target price on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Independence Realty Trust currently has an average rating of “Moderate Buy” and a consensus price target of $20.43.

Independence Realty Trust Trading Down 0.7 %

NYSE IRT opened at $21.86 on Friday. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 3.15 and a beta of 1.17. The stock has a 50-day moving average of $20.33 and a 200 day moving average of $19.33. Independence Realty Trust, Inc. has a twelve month low of $13.44 and a twelve month high of $22.26.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Monday, September 30th.

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.