Independence Realty Trust Inc. (NYSEMKT:IRT) announced a oct 16 dividend on Wednesday, October 12th. Stockholders of record on Monday, October 31st will be given a dividend of 0.06 per share by the real estate investment trust on Tuesday, November 15th.

Shares of Independence Realty Trust (NYSEMKT:IRT) opened at 8.51 on Thursday. Independence Realty Trust has a 52-week low of $5.97 and a 52-week high of $10.70. The stock’s 50 day moving average is $9.51 and its 200 day moving average is $8.36.

Independence Realty Trust (NYSEMKT:IRT) last issued its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The company earned $38.27 million during the quarter, compared to analyst estimates of $38.13 million. During the same period last year, the business earned $0.19 earnings per share. The firm’s revenue was up 68.5% compared to the same quarter last year. Analysts expect that Independence Realty Trust will post $0.85 earnings per share for the current fiscal year.

Dividend History for Independence Realty Trust (NYSEMKT:IRT)

In related news, major shareholder Rait Financial Trust sold 7,269,719 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $8.55, for a total transaction of $62,156,097.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional investors have recently made changes to their positions in the stock. Nationwide Fund Advisors boosted its position in shares of Independence Realty Trust by 30.2% in the second quarter. Nationwide Fund Advisors now owns 26,268 shares of the real estate investment trust’s stock worth $215,000 after buying an additional 6,097 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Independence Realty Trust by 19.8% in the second quarter. Dimensional Fund Advisors LP now owns 163,239 shares of the real estate investment trust’s stock worth $1,334,000 after buying an additional 26,991 shares during the period. Vanguard Group Inc. boosted its position in shares of Independence Realty Trust by 4.1% in the second quarter. Vanguard Group Inc. now owns 1,249,004 shares of the real estate investment trust’s stock worth $10,217,000 after buying an additional 49,152 shares during the period. BlackRock Advisors LLC boosted its position in shares of Independence Realty Trust by 28.3% in the second quarter. BlackRock Advisors LLC now owns 21,852 shares of the real estate investment trust’s stock worth $179,000 after buying an additional 4,821 shares during the period. Finally, BlackRock Investment Management LLC boosted its position in shares of Independence Realty Trust by 37.5% in the second quarter. BlackRock Investment Management LLC now owns 175,322 shares of the real estate investment trust’s stock worth $1,434,000 after buying an additional 47,851 shares during the period.

A number of analysts have issued reports on the company. Zacks Investment Research downgraded Independence Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, October 5th. TheStreet raised Independence Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, September 26th. Finally, FBR & Co raised their target price on Independence Realty Trust from $8.00 to $9.50 and gave the stock a “mkt perform” rating in a research note on Thursday, August 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $10.00.

About Independence Realty Trust

Independence Realty Trust, Inc is an externally managed and advised apartment real estate investment trust (REIT). The Company’s business consists of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of real estate assets. It owns and operates a portfolio of garden style and mid-rise apartment communities in the Southeastern United States.

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