Independence Realty Trust, Inc. (IRT) Holdings Lifted by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. raised its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 77.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 211,807 shares of the real estate investment trust’s stock after acquiring an additional 92,675 shares during the period. Goldman Sachs Group Inc.’s holdings in Independence Realty Trust were worth $2,090,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Virtu KCG Holdings LLC grew its position in Independence Realty Trust by 10.2% in the second quarter. Virtu KCG Holdings LLC now owns 20,492 shares of the real estate investment trust’s stock valued at $202,000 after acquiring an additional 1,900 shares during the last quarter. Ameriprise Financial Inc. bought a new position in Independence Realty Trust in the first quarter valued at about $102,000. Citigroup Inc. grew its position in Independence Realty Trust by 1,367.4% in the second quarter. Citigroup Inc. now owns 60,589 shares of the real estate investment trust’s stock valued at $598,000 after acquiring an additional 56,460 shares during the last quarter. Swiss National Bank grew 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 valued at $1,065,000 after acquiring an additional 6,400 shares during the last quarter. Finally, Thrivent Financial For Lutherans grew its position in Independence Realty Trust by 138.7% in the second quarter. Thrivent Financial For Lutherans now owns 35,800 shares of the real estate investment trust’s stock valued at $353,000 after acquiring an additional 20,800 shares during the last quarter. Hedge funds and other institutional investors own 61.86% of the company’s stock.

In other Independence Realty Trust news, CEO Scott Schaeffer purchased 35,000 shares of the stock in a transaction on Monday, August 7th. The shares were purchased at an average price of $10.12 per share, with a total value of $354,200.00. Following the acquisition, the chief executive officer now directly owns 155,306 shares in the company, valued at approximately $1,571,696.72. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.58% of the company’s stock.

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Shares of Independence Realty Trust, Inc. (NYSE:IRT) opened at 10.15 on Wednesday. The stock’s 50 day moving average price is $10.33 and its 200 day moving average price is $9.94. Independence Realty Trust, Inc. has a 12-month low of $7.74 and a 12-month high of $10.63.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.11. Independence Realty Trust had a negative return on equity of 3.22% and a negative net margin of 10.28%. The firm had revenue of $39.86 million for the quarter, compared to analysts’ expectations of $40.38 million. During the same quarter last year, the firm posted $0.21 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. Analysts forecast that Independence Realty Trust, Inc. will post $0.46 EPS for the current fiscal year.

The firm also recently declared a monthly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be issued a $0.06 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.72 annualized dividend and a dividend yield of 7.09%. Independence Realty Trust’s payout ratio is currently -313.03%.

IRT has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Monday, September 4th. ValuEngine upgraded Independence Realty Trust from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. FBR & Co reiterated an “outperform” rating and issued a $10.75 target price on shares of Independence Realty Trust in a research report on Tuesday, July 11th. Ladenburg Thalmann Financial Services reiterated a “buy” rating and issued a $11.00 target price on shares of Independence Realty Trust in a research report on Friday, September 8th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $11.00 target price on shares of Independence Realty Trust in a research report on Tuesday, October 17th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price 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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