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.
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.
ILLEGAL ACTIVITY NOTICE: This report was first posted by Community Financial News and is owned by of Community Financial News. If you are accessing this report on another website, it was stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this report can be accessed at https://www.com-unik.info/2018/12/03/columbia-partners-l-l-c-investment-management-takes-position-in-independence-realty-trust-inc-irt.html.
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.
Read More: Do Tariffs Work?
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 Inc (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.