Independence Realty Trust, Inc. (IRT) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 34.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,515 shares of the real estate investment trust’s stock after selling 15,924 shares during the period. Advisors Asset Management Inc.’s holdings in Independence Realty Trust were worth $310,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the business. Oppenheimer Asset Management Inc. lifted its holdings in shares of Independence Realty Trust by 147.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,153 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 6,056 shares in the last quarter. Advisor Group Inc. lifted its holdings in shares of Independence Realty Trust by 76.8% in the 2nd quarter. Advisor Group Inc. now owns 10,251 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 4,454 shares in the last quarter. Loeb Partners Corp bought a new position in shares of Independence Realty Trust in the 3rd quarter worth $102,000. Profund Advisors LLC bought a new position in shares of Independence Realty Trust in the 2nd quarter worth $103,000. Finally, Koch Industries Inc. bought a new position in shares of Independence Realty Trust in the 2nd quarter worth $112,000. Hedge funds and other institutional investors own 78.66% of the company’s stock.

A number of equities analysts recently issued reports on IRT shares. ValuEngine upgraded Independence Realty Trust from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research raised Independence Realty Trust from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Friday, August 25th. B. Riley reissued a “buy” rating on shares of Independence Realty Trust in a research report on Wednesday, November 1st. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Independence Realty Trust in a research report on Wednesday, November 1st. Finally, Robert W. Baird reissued a “buy” rating and issued a $11.00 price target on shares of Independence Realty Trust in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $11.33.

Independence Realty Trust, Inc. (NYSE IRT) traded down $0.01 during midday trading on Thursday, reaching $10.13. The company had a trading volume of 456,400 shares, compared to its average volume of 714,353. Independence Realty Trust, Inc. has a twelve month low of $8.44 and a twelve month high of $10.63. The stock has a market cap of $846.88, a price-to-earnings ratio of 13.89 and a beta of 1.06. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.40 and a quick ratio of 0.40.

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. Independence Realty Trust had a negative return on equity of 3.08% and a negative net margin of 10.91%. The firm had revenue of $39.86 million during the quarter, compared to analyst estimates of $40.38 million. During the same period last year, the firm posted $0.21 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. research analysts anticipate 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. Stockholders 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 dividend yield of 7.11%. The ex-dividend date of this dividend is Thursday, December 28th. Independence Realty Trust’s dividend payout ratio is presently -276.92%.

COPYRIGHT VIOLATION NOTICE: “Independence Realty Trust, Inc. (IRT) Shares Sold by Advisors Asset Management Inc.” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this story can be viewed at https://ledgergazette.com/2017/12/07/independence-realty-trust-inc-irt-shares-sold-by-advisors-asset-management-inc.html.

Independence Realty Trust Company 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.

Want to see what other hedge funds are holding IRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Independence Realty Trust, Inc. (NYSE:IRT).

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

Receive News & Ratings for Independence Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independence Realty Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply