Short Interest in Independence Realty Trust Inc (IRT) Declines By 6.2%

Independence Realty Trust Inc (NYSE:IRT) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 2,359,265 shares, a decline of 6.2% from the January 13th total of 2,516,175 shares. Currently, 3.4% of the company’s stock are sold short. Based on an average trading volume of 494,534 shares, the days-to-cover ratio is presently 4.8 days.

Shares of Independence Realty Trust (NYSE:IRT) opened at 9.29 on Wednesday. The firm’s 50-day moving average price is $9.06 and its 200 day moving average price is $9.06. Independence Realty Trust has a 52 week low of $5.97 and a 52 week high of $10.70.

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, February 15th. Investors of record on Tuesday, January 31st will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 27th. This represents a $0.72 annualized dividend and a dividend yield of 7.75%.

Several research analysts recently commented on IRT shares. National Securities reiterated a “neutral” rating and issued a $9.00 price target on shares of Independence Realty Trust in a research note on Monday, December 5th. Zacks Investment Research upgraded Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, January 2nd. Finally, Robert W. Baird started coverage on Independence Realty Trust in a research note on Thursday, January 12th. They issued an “outperform” rating and a $10.00 price target on the stock.

Hedge funds have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Independence Realty Trust by 82.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 91,596 shares of the company’s stock valued at $817,000 after buying an additional 41,409 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Independence Realty Trust by 37.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 43,649 shares of the company’s stock valued at $389,000 after buying an additional 11,898 shares in the last quarter. Vertex One Asset Management Inc. raised its stake in shares of Independence Realty Trust by 270.1% in the fourth quarter. Vertex One Asset Management Inc. now owns 2,498,043 shares of the company’s stock valued at $22,283,000 after buying an additional 1,823,043 shares in the last quarter. Ancora Advisors LLC raised its stake in shares of Independence Realty Trust by 256.3% in the fourth quarter. Ancora Advisors LLC now owns 465,877 shares of the company’s stock valued at $4,156,000 after buying an additional 335,107 shares in the last quarter. Finally, Endeavour Capital Advisors Inc. raised its stake in shares of Independence Realty Trust by 18.6% in the fourth quarter. Endeavour Capital Advisors Inc. now owns 474,500 shares of the company’s stock valued at $4,233,000 after buying an additional 74,500 shares in the last quarter.

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Independence Realty Trust Company Profile

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.

5 Day Chart for NYSE:IRT

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