Independence Realty Trust Inc. (NYSEMKT:IRT) announced a monthly dividend on Thursday, October 13th. Stockholders of record on Wednesday, November 30th will be paid a dividend of 0.06 per share by the real estate investment trust on Thursday, December 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 8.29%. The ex-dividend date of this dividend is Monday, November 28th.

Shares of Independence Realty Trust (NYSEMKT:IRT) opened at 8.68 on Friday. The stock’s 50 day moving average price is $9.49 and its 200-day moving average price is $8.37. Independence Realty Trust has a 12 month low of $5.97 and a 12 month high of $10.70.

Independence Realty Trust (NYSEMKT:IRT) last posted its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $38.27 million for the quarter, compared to analysts’ expectations of $38.13 million. The firm’s revenue was up 68.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 EPS. On average, analysts expect that Independence Realty Trust will post $0.85 earnings per share for the current year.

Dividend History for Independence Realty Trust (NYSEMKT:IRT)

In other Independence Realty Trust news, major shareholder Rait Financial Trust sold 7,269,719 shares of the company’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $8.55, for a total value of $62,156,097.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in 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 valued at $10,217,000 after buying an additional 49,152 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Independence Realty Trust by 26.1% in the second quarter. BlackRock Fund Advisors now owns 1,093,003 shares of the real estate investment trust’s stock valued at $8,941,000 after buying an additional 225,907 shares in the last quarter. Raymond James & Associates boosted its stake in Independence Realty Trust by 2.4% in the second quarter. Raymond James & Associates now owns 803,761 shares of the real estate investment trust’s stock valued at $6,575,000 after buying an additional 18,698 shares in the last quarter. State Street Corp boosted its stake in Independence Realty Trust by 28.8% in the second quarter. State Street Corp now owns 784,992 shares of the real estate investment trust’s stock valued at $6,419,000 after buying an additional 175,351 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Independence Realty Trust by 18.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 617,529 shares of the real estate investment trust’s stock valued at $5,051,000 after buying an additional 97,311 shares in the last quarter.

A number of analysts recently commented on IRT shares. TheStreet upgraded Independence Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday, August 12th. Zacks Investment Research cut Independence Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Finally, FBR & Co upped their price objective on Independence Realty Trust from $8.00 to $9.50 and gave the company a “mkt perform” rating in a research report on Thursday, August 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target 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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