KCG Holdings Inc. increased its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 74.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,592 shares of the real estate investment trust’s stock after buying an additional 7,923 shares during the period. KCG Holdings Inc.’s holdings in Independence Realty Trust were worth $174,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Metropolitan Life Insurance Co. NY boosted its position in Independence Realty Trust by 37.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 43,649 shares of the real estate investment trust’s stock worth $389,000 after buying an additional 11,898 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in Independence Realty Trust during the first quarter worth approximately $102,000. Sheaff Brock Investment Advisors LLC acquired a new position in Independence Realty Trust during the first quarter worth approximately $164,000. Swiss National Bank boosted its position 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 worth $1,065,000 after buying an additional 6,400 shares in the last quarter. Finally, State Street Corp boosted its position in Independence Realty Trust by 39.7% in the fourth quarter. State Street Corp now owns 1,851,044 shares of the real estate investment trust’s stock worth $16,515,000 after buying an additional 526,231 shares in the last quarter. Institutional investors and hedge funds own 71.83% of the company’s stock.
Shares of Independence Realty Trust, Inc. (NYSE:IRT) traded down 1.21% during mid-day trading on Friday, hitting $9.83. The stock had a trading volume of 301,703 shares. The stock’s 50-day moving average is $10.06 and its 200 day moving average is $9.53. Independence Realty Trust, Inc. has a 12 month low of $7.74 and a 12 month high of $10.70.
Independence Realty Trust (NYSE:IRT) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $39.43 million during the quarter, compared to the consensus estimate of $39.43 million. Independence Realty Trust had a negative net margin of 10.28% and a negative return on equity of 3.22%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Equities research analysts forecast that Independence Realty Trust, Inc. will post $0.50 earnings per share for the current year.
The company also recently announced a monthly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were paid a dividend of $0.06 per share. The ex-dividend date was Thursday, July 27th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 7.24%. Independence Realty Trust’s payout ratio is currently -313.03%.
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Several brokerages recently issued reports on IRT. Zacks Investment Research raised Independence Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, May 5th. FBR & Co raised Independence Realty Trust from a “market perform” rating to an “outperform” rating and increased their target price for the company from $9.75 to $11.50 in a research report on Thursday, June 15th. JMP Securities reaffirmed an “outperform” rating and set a $11.50 target price (up previously from $10.50) on shares of Independence Realty Trust in a research report on Friday, June 30th. ValuEngine cut Independence Realty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Finally, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Independence Realty Trust in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $10.45.
In other news, CEO Scott Schaeffer bought 35,000 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was purchased at an average price of $10.12 per share, for a total transaction of $354,200.00. Following the completion of the purchase, the chief executive officer now owns 155,306 shares in the company, valued at approximately $1,571,696.72. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.58% of the company’s stock.
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.
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