Kingswood Wealth Advisors LLC Increases Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Kingswood Wealth Advisors LLC increased its position in Independence Realty Trust, Inc. (NYSE:IRT) by 141.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 27,454 shares of the real estate investment trust’s stock after buying an additional 16,084 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Independence Realty Trust were worth $545,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hilton Capital Management LLC bought a new stake in shares of Independence Realty Trust in the 3rd quarter worth approximately $7,573,000. SMART Wealth LLC purchased a new position in Independence Realty Trust in the 3rd quarter worth $873,000. Barclays PLC raised its position in Independence Realty Trust by 182.3% in the 3rd quarter. Barclays PLC now owns 400,376 shares of the real estate investment trust’s stock worth $8,208,000 after purchasing an additional 258,549 shares during the period. JPMorgan Chase & Co. lifted its stake in Independence Realty Trust by 38.0% in the third quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust’s stock worth $51,150,000 after purchasing an additional 686,630 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Independence Realty Trust during the third quarter valued at about $1,594,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

Shares of IRT stock opened at $18.89 on Thursday. The firm has a market cap of $4.25 billion, a P/E ratio of 16.85, a P/E/G ratio of 2.61 and a beta of 1.21. The business’s 50 day moving average price is $20.23 and its 200-day moving average price is $20.02. Independence Realty Trust, Inc. has a fifty-two week low of $14.07 and a fifty-two week high of $22.26.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Tuesday, December 31st.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IRT. Barclays lowered their target price on Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $19.00 to $21.00 in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.86.

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.