Private Advisor Group LLC lifted its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 45.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,390 shares of the real estate investment trust’s stock after buying an additional 7,950 shares during the period. Private Advisor Group LLC’s holdings in Independence Realty Trust were worth $266,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Independence Realty Trust by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 8,145,938 shares of the real estate investment trust’s stock valued at $80,401,000 after buying an additional 201,984 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Independence Realty Trust by 3.3% during the 2nd quarter. Alliancebernstein L.P. now owns 4,208,515 shares of the real estate investment trust’s stock worth $41,538,000 after purchasing an additional 132,990 shares during the period. State Street Corp boosted its stake in Independence Realty Trust by 20.2% during the 2nd quarter. State Street Corp now owns 2,226,547 shares of the real estate investment trust’s stock worth $21,979,000 after purchasing an additional 373,485 shares during the period. Principal Financial Group Inc. boosted its stake in Independence Realty Trust by 93.7% during the 3rd quarter. Principal Financial Group Inc. now owns 2,121,772 shares of the real estate investment trust’s stock worth $21,578,000 after purchasing an additional 1,026,415 shares during the period. Finally, LSV Asset Management boosted its stake in Independence Realty Trust by 6.5% during the 2nd quarter. LSV Asset Management now owns 1,769,897 shares of the real estate investment trust’s stock worth $17,468,000 after purchasing an additional 107,300 shares during the period. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently weighed in on the stock. National Securities increased their price target on shares of Independence Realty Trust from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 22nd. B. Riley reiterated a “buy” rating on shares of Independence Realty Trust in a research note on Wednesday, November 1st. Robert W. Baird restated a “buy” rating and issued a $11.00 target price on shares of Independence Realty Trust in a research note on Tuesday, October 17th. Zacks Investment Research cut shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Finally, FBR & Co restated a “buy” rating and issued a $11.50 target price on shares of Independence Realty Trust in a research note on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $11.33.

Independence Realty Trust, Inc. (NYSE IRT) traded up $0.10 during mid-day trading on Thursday, hitting $10.19. 720,400 shares of the stock traded hands, compared to its average volume of 709,825. Independence Realty Trust, Inc. has a one year low of $8.45 and a one year high of $10.63. The firm has a market cap of $842.70, a PE ratio of 13.82 and a beta of 1.06. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.40 and a quick ratio of 0.40.

Independence Realty Trust (NYSE:IRT) last released its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.11. Independence Realty Trust had a negative net margin of 10.91% and a negative return on equity of 3.08%. The company had revenue of $39.86 million during the quarter, compared to analysts’ expectations of $40.38 million. During the same quarter last year, the business earned $0.21 EPS. The business’s revenue was up 1.1% on a year-over-year basis. equities research analysts forecast that Independence Realty Trust, Inc. will post 0.74 earnings per share for the current year.

The company also recently announced a monthly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 7.07%. The ex-dividend date of this dividend is Thursday, December 28th. Independence Realty Trust’s dividend payout ratio (DPR) is presently -276.92%.

ILLEGAL ACTIVITY WARNING: “Independence Realty Trust, Inc. (IRT) Position Lifted by Private Advisor Group LLC” was originally posted by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another domain, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The legal version of this story can be accessed at https://www.watchlistnews.com/independence-realty-trust-inc-irt-position-lifted-by-private-advisor-group-llc/1763419.html.

Independence Realty Trust Company 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.

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).

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.