Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp trimmed its position in 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.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new position in shares of Independence Realty Trust in the second quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new position in Independence Realty Trust in the 3rd quarter valued at $28,000. Mattson Financial Services LLC acquired a new position in Independence Realty Trust in the 2nd quarter valued at $28,000. Pathway Financial Advisers LLC purchased a new position in Independence Realty Trust in the 1st quarter valued at $31,000. Finally, Assetmark Inc. acquired a new stake in Independence Realty Trust during the 3rd quarter worth $41,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and increased their target price for the company from $19.00 to $21.00 in a research report on Friday, November 15th. BTIG Research increased their price objective on shares of Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, August 12th. KeyCorp raised their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. JMP Securities upped 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. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Independence Realty Trust currently has an average rating of “Moderate Buy” and an average target price of $20.43.

Independence Realty Trust Price Performance

Shares of NYSE IRT opened at $21.86 on Friday. The company has a market capitalization of $4.92 billion, a P/E ratio of 19.31, a P/E/G ratio of 3.15 and a beta of 1.17. The company has a 50 day simple moving average of $20.33 and a 200-day simple moving average of $19.33. Independence Realty Trust, Inc. has a 1 year low of $13.44 and a 1 year high of $22.26.

Independence Realty Trust Dividend Announcement

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

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.