Independence Realty Trust, Inc. (IRT) Shares Bought by Piedmont Investment Advisors LLC

Piedmont Investment Advisors LLC grew its position in Independence Realty Trust, Inc. (NYSE:IRT) by 38.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,785 shares of the real estate investment trust’s stock after acquiring an additional 4,956 shares during the period. Piedmont Investment Advisors LLC’s holdings in Independence Realty Trust were worth $181,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its stake in shares of Independence Realty Trust by 147.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,153 shares of the real estate investment trust’s stock valued at $100,000 after acquiring an additional 6,056 shares during the last quarter. Advisor Group Inc. raised its stake in shares of Independence Realty Trust by 76.8% in the second quarter. Advisor Group Inc. now owns 10,251 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 4,454 shares during the last quarter. Loeb Partners Corp bought a new position in shares of Independence Realty Trust in the third quarter valued at approximately $102,000. Profund Advisors LLC bought a new position in shares of Independence Realty Trust in the second quarter valued at approximately $103,000. Finally, SG Americas Securities LLC bought a new position in shares of Independence Realty Trust in the third quarter valued at approximately $105,000. Institutional investors own 78.49% of the company’s stock.

Shares of Independence Realty Trust, Inc. (NYSE IRT) opened at $10.34 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. Independence Realty Trust, Inc. has a fifty-two week low of $8.57 and a fifty-two week high of $10.63. The company has a market cap of $853.56, a price-to-earnings ratio of 14.00 and a beta of 1.06.

Independence Realty Trust (NYSE:IRT) last released its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.11. Independence Realty Trust had a negative net margin of 10.91% and a negative return on equity of 3.08%. The firm had revenue of $39.86 million during the quarter, compared to analyst estimates of $40.38 million. During the same quarter in the previous year, the business earned $0.21 EPS. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. equities analysts forecast that Independence Realty Trust, Inc. will post 0.74 earnings per share for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 6.96%. The ex-dividend date of this dividend is Thursday, December 28th. Independence Realty Trust’s dividend payout ratio is presently -276.92%.

A number of research analysts have recently issued reports on the stock. 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. National Securities lifted their target price on shares of Independence Realty Trust from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, November 22nd. BidaskClub cut shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a research 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 research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $11.33.

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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.

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

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