Ladenburg Thalmann Financial Services Inc. Has $896,000 Position in Independence Realty Trust (IRT)

Ladenburg Thalmann Financial Services Inc. trimmed its position in shares of Independence Realty Trust (NYSE:IRT) by 5.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 97,676 shares of the real estate investment trust’s stock after selling 6,089 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Independence Realty Trust were worth $896,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. BlackRock Inc. grew its stake in Independence Realty Trust by 2.3% during the first quarter. BlackRock Inc. now owns 12,467,747 shares of the real estate investment trust’s stock worth $114,452,000 after buying an additional 278,919 shares during the last quarter. Principal Financial Group Inc. grew its stake in Independence Realty Trust by 28.0% during the first quarter. Principal Financial Group Inc. now owns 3,267,283 shares of the real estate investment trust’s stock worth $29,994,000 after buying an additional 715,305 shares during the last quarter. Global X Management Co. LLC grew its stake in Independence Realty Trust by 28.7% during the first quarter. Global X Management Co. LLC now owns 1,390,052 shares of the real estate investment trust’s stock worth $12,761,000 after buying an additional 310,224 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Independence Realty Trust by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,327,132 shares of the real estate investment trust’s stock worth $13,390,000 after buying an additional 15,423 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Independence Realty Trust by 10.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,090,792 shares of the real estate investment trust’s stock worth $10,013,000 after buying an additional 99,949 shares during the last quarter. 81.11% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on IRT shares. ValuEngine upgraded shares of Independence Realty Trust from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 7th. Zacks Investment Research upgraded shares of Independence Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, May 31st. Finally, B. Riley reduced their target price on shares of Independence Realty Trust from $11.50 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, April 26th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Independence Realty Trust has an average rating of “Buy” and a consensus target price of $11.08.

Shares of Independence Realty Trust opened at $10.31 on Monday, MarketBeat.com reports. Independence Realty Trust has a 1 year low of $8.26 and a 1 year high of $10.63. The company has a market cap of $896.69 million, a PE ratio of 14.12 and a beta of 0.86. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 1.42.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Wednesday, April 25th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.14). Independence Realty Trust had a return on equity of 4.82% and a net margin of 17.65%. The company had revenue of $45.62 million for the quarter, compared to analyst estimates of $44.29 million. research analysts predict that Independence Realty Trust will post 0.75 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 20th. Stockholders of record on Friday, July 6th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, July 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 6.98%. Independence Realty Trust’s payout ratio is 295.89%.

About Independence Realty Trust

Independence Realty Trust (NYSE: IRT) is a real estate investment trust that owns and operates 55 multifamily apartment properties, totaling 15,045 units, across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers.

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

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