Raymond James Financial Services Advisors Inc. Invests $122,000 in Independence Realty Trust Inc (IRT)

Raymond James Financial Services Advisors Inc. bought a new stake in Independence Realty Trust Inc (NYSE:IRT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,000 shares of the real estate investment trust’s stock, valued at approximately $122,000.

A number of other large investors also recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC increased its stake in Independence Realty Trust by 0.4% in the first quarter. Parametric Portfolio Associates LLC now owns 69,887 shares of the real estate investment trust’s stock valued at $655,000 after buying an additional 261 shares during the period. Strs Ohio increased its stake in Independence Realty Trust by 2.7% in the first quarter. Strs Ohio now owns 112,260 shares of the real estate investment trust’s stock valued at $1,051,000 after buying an additional 2,954 shares during the period. State of New Jersey Common Pension Fund D increased its stake in Independence Realty Trust by 0.6% in the first quarter. State of New Jersey Common Pension Fund D now owns 878,100 shares of the real estate investment trust’s stock valued at $8,227,000 after buying an additional 5,000 shares during the period. Swiss National Bank increased its stake in Independence Realty Trust by 6.0% in the first quarter. Swiss National Bank now owns 113,700 shares of the real estate investment trust’s stock valued at $1,065,000 after buying an additional 6,400 shares during the period. Finally, Kissinger Financial Services LLC increased its stake in Independence Realty Trust by 8.6% in the first quarter. Kissinger Financial Services LLC now owns 93,900 shares of the real estate investment trust’s stock valued at $880,000 after buying an additional 7,475 shares during the period.

Shares of Independence Realty Trust Inc (NYSE IRT) opened at 9.97 on Tuesday. The company’s market capitalization is $686.13 million. Independence Realty Trust Inc has a 12-month low of $7.37 and a 12-month high of $10.70. The firm has a 50-day moving average price of $9.51 and a 200 day moving average price of $9.19.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.18 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. Independence Realty Trust had a return on equity of 3.25% and a net margin of 10.85%. The firm had revenue of $38.90 million during the quarter, compared to analyst estimates of $38.53 million. During the same quarter in the previous year, the business earned $0.21 EPS. On average, equities research analysts predict that Independence Realty Trust Inc will post $0.35 earnings per share for the current year.

The firm also recently declared a monthly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were paid a $0.06 dividend. The ex-dividend date was Friday, May 26th. This represents a $0.72 annualized dividend and a dividend yield of 7.22%.

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Several research firms have commented on IRT. Zacks Investment Research raised Independence Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, April 13th. FBR & Co raised Independence Realty Trust from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $9.75 to $11.50 in a report on Thursday, June 15th. 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 presently has an average rating of “Buy” and an average price target of $10.38.

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.

Institutional Ownership by Quarter for Independence Realty Trust (NYSE:IRT)

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