Sheets Smith Wealth Management trimmed its stake in Independence Realty Trust Inc (NYSE:IRT) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,990 shares of the real estate investment trust’s stock after selling 6,000 shares during the period. Sheets Smith Wealth Management owned approximately 0.12% of Independence Realty Trust worth $1,029,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Loeb Partners Corp bought a new position in shares of Independence Realty Trust in the third quarter worth approximately $102,000. Oppenheimer Asset Management Inc. increased its position in shares of Independence Realty Trust by 147.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,153 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 6,056 shares during the last quarter. Advisor Group Inc. increased its position in shares of Independence Realty Trust by 76.8% in the second quarter. Advisor Group Inc. now owns 10,251 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 4,454 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Independence Realty Trust in the third quarter worth approximately $105,000. Finally, Profund Advisors LLC bought a new position in shares of Independence Realty Trust in the second quarter worth approximately $103,000. Institutional investors own 78.49% of the company’s stock.

Independence Realty Trust Inc (IRT) opened at $9.50 on Friday. Independence Realty Trust Inc has a 52-week low of $8.57 and a 52-week high of $10.63. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market cap of $809.29, a P/E ratio of -36.54 and a beta of 1.06.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $39.86 million for the quarter, compared to analysts’ expectations of $40.38 million. During the same period last year, the business earned $0.21 earnings per share. The business’s quarterly revenue was up 1.1% on a year-over-year basis. equities research analysts predict that Independence Realty Trust Inc will post 0.74 EPS for the current fiscal year.

IRT has been the topic of several research analyst reports. KeyCorp initiated coverage on shares of Independence Realty Trust in a research report on Tuesday, December 5th. They issued a “sector weight” rating on the stock. Zacks Investment Research cut shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. National Securities upped their price objective on shares of Independence Realty Trust from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 22nd. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Independence Realty Trust in a research report on Wednesday, November 1st. Finally, B. Riley restated a “buy” rating on shares of Independence Realty Trust in a research report on Wednesday, November 1st. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $11.33.

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Independence Realty Trust 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.

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

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