Columbia Partners L.L.C. Investment Management Takes Position in Independence Realty Trust Inc (IRT)

Columbia Partners L.L.C. Investment Management acquired a new position in shares of Independence Realty Trust Inc (NYSE:IRT) in the third quarter, HoldingsChannel reports. The firm acquired 131,277 shares of the real estate investment trust’s stock, valued at approximately $1,382,000.

Other institutional investors have also bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new position in shares of Independence Realty Trust during the 2nd quarter worth about $118,000. Tower Research Capital LLC TRC acquired a new position in shares of Independence Realty Trust during the 2nd quarter worth about $123,000. Raymond James Trust N.A. acquired a new position in shares of Independence Realty Trust during the 3rd quarter worth about $149,000. Royal Bank of Canada boosted its stake in shares of Independence Realty Trust by 70.9% during the 1st quarter. Royal Bank of Canada now owns 14,522 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 6,027 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Independence Realty Trust during the 2nd quarter worth about $171,000. Institutional investors own 85.99% of the company’s stock.

In related news, Director Richard H. Ross sold 7,966 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $9.51, for a total value of $75,756.66. Following the completion of the sale, the director now directly owns 33,369 shares in the company, valued at approximately $317,339.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.

A number of equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Boenning Scattergood started coverage on shares of Independence Realty Trust in a research note on Monday, September 17th. They issued an “outperform” rating and a $11.00 target price for the company. Finally, Capital One Financial started coverage on shares of Independence Realty Trust in a research note on Monday, November 19th. They issued an “equal weight” rating for the company. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $10.75.

Shares of NYSE:IRT opened at $10.10 on Monday. Independence Realty Trust Inc has a 52-week low of $8.26 and a 52-week high of $10.59. The stock has a market capitalization of $898.10 million, a P/E ratio of 13.84 and a beta of 0.84. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.24 and a quick ratio of 0.24.

Independence Realty Trust (NYSE:IRT) last issued its earnings results on Thursday, November 1st. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.14). Independence Realty Trust had a net margin of 9.81% and a return on equity of 2.83%. The firm had revenue of $48.78 million during the quarter, compared to analyst estimates of $47.84 million. On average, sell-side analysts expect that Independence Realty Trust Inc will post 0.74 EPS for the current year.

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Independence Realty Trust Company Profile

Independence Realty Trust (NYSE: IRT) is a real estate investment trust that currently owns and operates 59 multifamily apartment properties, totaling 16,120 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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