Asset Management One Co. Ltd. decreased its stake in Independence Realty Trust Inc (NYSE:IRT) by 9.4% during the first quarter, Holdings Channel reports. The institutional investor owned 127,981 shares of the real estate investment trust’s stock after selling 13,271 shares during the period. Asset Management One Co. Ltd.’s holdings in Independence Realty Trust were worth $1,187,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Parametric Portfolio Associates LLC boosted its position in Independence Realty Trust by 0.4% in the first quarter. Parametric Portfolio Associates LLC now owns 69,887 shares of the real estate investment trust’s stock valued at $655,000 after buying an additional 261 shares in the last quarter. Strs Ohio boosted its position in Independence Realty Trust by 2.7% in the first quarter. Strs Ohio now owns 112,260 shares of the real estate investment trust’s stock valued at $1,051,000 after buying an additional 2,954 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in Independence Realty Trust by 0.6% in the first quarter. State of New Jersey Common Pension Fund D now owns 878,100 shares of the real estate investment trust’s stock valued at $8,227,000 after buying an additional 5,000 shares in the last quarter. Swiss National Bank boosted 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 buying an additional 6,400 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in Independence Realty Trust by 0.6% in the first quarter. Blair William & Co. IL now owns 1,052,011 shares of the real estate investment trust’s stock valued at $9,668,000 after buying an additional 6,561 shares in the last quarter.

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

Independence Realty Trust Inc (IRT) opened at 9.99 on Friday. The company’s 50 day moving average price is $9.46 and its 200 day moving average price is $9.16. Independence Realty Trust Inc has a 52-week low of $7.37 and a 52-week high of $10.70. The firm’s market cap is $687.50 million.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $38.90 million for the quarter, compared to the consensus estimate of $38.53 million. During the same quarter in the previous year, the business posted $0.21 EPS. Analysts predict that Independence Realty Trust Inc will post $0.32 earnings per share for the current fiscal year.

The firm also recently declared a monthly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 7.21%. The ex-dividend date was Friday, May 26th.

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Several equities analysts recently weighed in on the company. Zacks Investment Research raised Independence Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, April 13th. FBR & Co raised Independence Realty Trust from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $9.75 to $11.50 in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Independence Realty Trust currently has a consensus rating of “Buy” and an average price target of $10.38.

About Independence Realty Trust

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.

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