Nisa Investment Advisors LLC maintained its stake in Independence Realty Trust, Inc. (NYSE:IRT) during the second quarter, Holdings Channel reports. The fund owned 53,300 shares of the real estate investment trust’s stock at the end of the second quarter. Nisa Investment Advisors LLC’s holdings in Independence Realty Trust were worth $514,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Ameriprise Financial Inc. acquired a new stake in Independence Realty Trust during the first quarter valued at about $102,000. UBS Asset Management Americas Inc. acquired a new stake in Independence Realty Trust during the fourth quarter valued at about $103,000. State of Alaska Department of Revenue acquired a new stake in Independence Realty Trust during the second quarter valued at about $114,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Independence Realty Trust during the first quarter valued at about $122,000. Finally, GW&K Investment Management LLC acquired a new stake in Independence Realty Trust during the second quarter valued at about $136,000. 71.86% of the stock is owned by hedge funds and other institutional investors.

Independence Realty Trust, Inc. (IRT) traded down 0.2488% on Thursday, hitting $10.1447. The stock had a trading volume of 183,068 shares. The company’s 50-day moving average price is $10.01 and its 200 day moving average price is $9.49. Independence Realty Trust, Inc. has a one year low of $7.74 and a one year high of $10.70. The firm’s market cap is $698.43 million.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $39.43 million during the quarter, compared to the consensus estimate of $39.43 million. Independence Realty Trust had a negative return on equity of 3.22% and a negative net margin of 10.28%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 EPS. Analysts expect that Independence Realty Trust, Inc. will post $0.46 earnings per share for the current year.

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, July 27th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 7.08%. Independence Realty Trust’s payout ratio is -313.03%.

TRADEMARK VIOLATION WARNING: “Nisa Investment Advisors LLC Holds Position in Independence Realty Trust, Inc. (IRT)” was originally posted by Watch List News and is owned by of Watch List News. If you are accessing this piece on another domain, it was stolen and republished in violation of United States and international copyright laws. The correct version of this piece can be viewed at https://www.watchlistnews.com/nisa-investment-advisors-llc-holds-position-in-independence-realty-trust-inc-irt/1468369.html.

Several equities research analysts have issued reports on the company. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Independence Realty Trust in a research note on Wednesday, August 2nd. ValuEngine cut Independence Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. Zacks Investment Research cut Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. JMP Securities reissued an “outperform” rating and set a $11.50 target price (up previously from $10.50) on shares of Independence Realty Trust in a research note on Friday, June 30th. Finally, FBR & Co reissued an “outperform” rating and set a $10.75 target price on shares of Independence Realty Trust in a research note on Tuesday, July 11th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $10.45.

In other news, CEO Scott Schaeffer acquired 35,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was acquired at an average cost of $10.12 per share, for a total transaction of $354,200.00. Following the acquisition, the chief executive officer now directly owns 155,306 shares in the company, valued at approximately $1,571,696.72. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.58% of the company’s stock.

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.

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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independence Realty Trust Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.