State Street Corp Grows Stake in Independence Realty Trust, Inc. (IRT)

State Street Corp increased its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 20.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,226,547 shares of the real estate investment trust’s stock after purchasing an additional 373,485 shares during the period. State Street Corp’s holdings in Independence Realty Trust were worth $21,979,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IRT. UBS Asset Management Americas Inc. raised its holdings in shares of Independence Realty Trust by 190.1% during the first quarter. UBS Asset Management Americas Inc. now owns 33,358 shares of the real estate investment trust’s stock valued at $313,000 after purchasing an additional 21,858 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Independence Realty Trust during the first quarter valued at approximately $102,000. Parametric Portfolio Associates LLC raised its holdings in shares of Independence Realty Trust by 0.4% during 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 purchasing an additional 261 shares during the last quarter. American International Group Inc. raised its holdings in shares of Independence Realty Trust by 44.5% during the first quarter. American International Group Inc. now owns 33,515 shares of the real estate investment trust’s stock valued at $314,000 after purchasing an additional 10,314 shares during the last quarter. Finally, Teachers Advisors LLC raised its holdings in shares of Independence Realty Trust by 15.0% during the first quarter. Teachers Advisors LLC now owns 120,469 shares of the real estate investment trust’s stock valued at $1,129,000 after purchasing an additional 15,699 shares during the last quarter. 65.50% of the stock is owned by hedge funds and other institutional investors.

Shares of Independence Realty Trust, Inc. (IRT) opened at $10.13 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. The stock has a market cap of $858.57, a P/E ratio of 14.08 and a beta of 1.07. Independence Realty Trust, Inc. has a 12-month low of $8.06 and a 12-month high of $10.63.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.11. The company had revenue of $39.86 million during 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 firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 earnings per share. equities analysts predict that Independence Realty Trust, Inc. will post 0.74 EPS for the current fiscal year.

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.72 annualized dividend and a yield of 7.11%. Independence Realty Trust’s dividend payout ratio (DPR) is -276.92%.

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Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. ValuEngine cut shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. BidaskClub cut shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. B. Riley restated a “buy” rating on shares of Independence Realty Trust in a research report on Wednesday, November 1st. Finally, Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Independence Realty Trust in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $11.00.

Independence Realty Trust Profile

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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