Dimensional Fund Advisors LP Acquires 99,949 Shares of Independence Realty Trust (IRT)

Dimensional Fund Advisors LP lifted its holdings in shares of Independence Realty Trust (NYSE:IRT) by 10.1% during the first quarter, HoldingsChannel.com reports. The firm owned 1,090,792 shares of the real estate investment trust’s stock after acquiring an additional 99,949 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Independence Realty Trust were worth $10,013,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of IRT. Wells Fargo & Company MN lifted its holdings in Independence Realty Trust by 32.6% in the fourth quarter. Wells Fargo & Company MN now owns 228,474 shares of the real estate investment trust’s stock valued at $2,305,000 after buying an additional 56,147 shares during the period. Raymond James & Associates lifted its holdings in Independence Realty Trust by 0.8% in the fourth quarter. Raymond James & Associates now owns 1,071,858 shares of the real estate investment trust’s stock valued at $10,815,000 after buying an additional 8,386 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Independence Realty Trust by 21.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 103,765 shares of the real estate investment trust’s stock valued at $1,047,000 after buying an additional 18,289 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Independence Realty Trust by 29.8% in the first quarter. Thrivent Financial for Lutherans now owns 84,902 shares of the real estate investment trust’s stock valued at $779,000 after buying an additional 19,513 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Independence Realty Trust by 121.7% in the fourth quarter. Renaissance Technologies LLC now owns 994,095 shares of the real estate investment trust’s stock valued at $10,030,000 after buying an additional 545,700 shares during the period. Institutional investors own 81.09% of the company’s stock.

Several equities analysts recently issued reports on IRT shares. Zacks Investment Research upgraded shares of Independence Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, May 31st. B. Riley dropped 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 report on Thursday, April 26th. Finally, ValuEngine lowered shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $11.08.

Shares of NYSE IRT opened at $10.11 on Friday. Independence Realty Trust has a 1-year low of $8.26 and a 1-year high of $10.63. The stock has a market cap of $866.26 million, a PE ratio of 13.85 and a beta of 0.85. 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 quarterly earnings data on Wednesday, April 25th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.14). Independence Realty Trust had a net margin of 17.65% and a return on equity of 4.82%. The company had revenue of $45.62 million for the quarter, compared to analyst estimates of $44.29 million. equities analysts anticipate that Independence Realty Trust will post 0.75 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 20th. Stockholders of record on Friday, July 6th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, July 5th. This represents a $0.72 annualized dividend and a dividend yield of 7.12%. Independence Realty Trust’s dividend payout ratio is currently 98.63%.

Independence Realty Trust Company Profile

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.

Featured Story: What does relative strength index mean?

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 (NYSE:IRT).

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

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

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit