Parametric Portfolio Associates LLC raised its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 40.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,340 shares of the real estate investment trust’s stock after buying an additional 28,453 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.14% of Independence Realty Trust worth $971,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. UBS Group AG raised its stake in Independence Realty Trust by 0.6% during the 1st quarter. UBS Group AG now owns 67,706 shares of the real estate investment trust’s stock worth $634,000 after acquiring an additional 384 shares in the last quarter. Bard Associates Inc. boosted its holdings in Independence Realty Trust by 0.5% during the second quarter. Bard Associates Inc. now owns 189,725 shares of the real estate investment trust’s stock worth $1,873,000 after buying an additional 1,000 shares in the last quarter. Bank of America Corp DE boosted its holdings in Independence Realty Trust by 11.0% during the first quarter. Bank of America Corp DE now owns 44,684 shares of the real estate investment trust’s stock worth $419,000 after buying an additional 4,443 shares in the last quarter. Advisor Group Inc. boosted its holdings in Independence Realty Trust by 76.8% during the second quarter. Advisor Group Inc. now owns 10,251 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 4,454 shares in the last quarter. Finally, Foundry Partners LLC lifted its holdings in shares of Independence Realty Trust by 0.8% in the second quarter. Foundry Partners LLC now owns 634,075 shares of the real estate investment trust’s stock valued at $6,258,000 after purchasing an additional 5,050 shares in the last quarter. 78.66% of the stock is owned by institutional investors.
Several research firms have recently issued reports on IRT. National Securities increased their price objective on shares of Independence Realty Trust from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 22nd. B. Riley reaffirmed a “buy” rating on shares of Independence Realty Trust in a report on Wednesday, November 1st. Robert W. Baird reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Independence Realty Trust in a report on Tuesday, October 17th. Zacks Investment Research cut shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Finally, FBR & Co reissued a “buy” rating and set a $11.50 target price on shares of Independence Realty Trust in a research note on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Independence Realty Trust has an average rating of “Buy” and an average target price of $11.33.
Independence Realty Trust, Inc. (NYSE IRT) traded down $0.04 during mid-day trading on Monday, hitting $10.16. 579,083 shares of the company traded hands, compared to its average volume of 716,757. The firm has a market capitalization of $851.89, a PE ratio of 13.97 and a beta of 1.06. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.40. Independence Realty Trust, Inc. has a twelve month low of $8.33 and a twelve month high of $10.63.
Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.11. The firm had revenue of $39.86 million for the quarter, compared to analyst estimates of $40.38 million. Independence Realty Trust had a negative net margin of 10.91% and a negative return on equity of 3.08%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 earnings per share. analysts predict that Independence Realty Trust, Inc. will post 0.74 EPS for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be given a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 7.09%. The ex-dividend date of this dividend is Thursday, December 28th. Independence Realty Trust’s payout ratio is presently -276.92%.
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About Independence Realty Trust
Independence Realty Trust, Inc is an internally-managed real estate investment trust (REIT). The Company is engaged in the business of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of real estate assets. The Company owns apartment properties in geographic non-gateway markets.
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