Oppenheimer Asset Management Inc. increased its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 147.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,153 shares of the real estate investment trust’s stock after purchasing an additional 6,056 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Independence Realty Trust were worth $100,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. purchased a new position in shares of Independence Realty Trust during the first quarter valued at approximately $102,000. UBS Asset Management Americas Inc. purchased a new position in shares of Independence Realty Trust during the fourth quarter valued at approximately $103,000. State of Alaska Department of Revenue purchased a new position in shares of Independence Realty Trust during the second quarter valued at approximately $114,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Independence Realty Trust during the first quarter valued at approximately $122,000. Finally, GW&K Investment Management LLC purchased a new position in shares of Independence Realty Trust during the second quarter valued at approximately $136,000. 61.94% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Scott Schaeffer bought 35,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was purchased at an average cost of $10.12 per share, with a total value of $354,200.00. Following the acquisition, the chief executive officer now directly owns 155,306 shares in the company, valued at $1,571,696.72. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.58% of the stock is owned by insiders.

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Shares of Independence Realty Trust, Inc. (NYSE:IRT) opened at 10.17 on Monday. Independence Realty Trust, Inc. has a 12 month low of $7.74 and a 12 month high of $10.70. The company’s 50-day moving average is $10.15 and its 200 day moving average is $9.68.

Independence Realty Trust (NYSE:IRT) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $39.43 million during the quarter, compared to analyst estimates of $39.43 million. Independence Realty Trust had a negative net margin of 10.28% and a negative return on equity of 3.22%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS. On average, analysts forecast that Independence Realty Trust, Inc. will post $0.47 EPS for the current fiscal year.

The company also recently announced a monthly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 7.08%. The ex-dividend date was Tuesday, August 29th. Independence Realty Trust’s dividend payout ratio (DPR) is -313.03%.

Several analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. FBR & Co restated a “buy” rating and set a $11.50 target price on shares of Independence Realty Trust in a research report on Tuesday, September 12th. ValuEngine upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub lowered shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Finally, Ladenburg Thalmann Financial Services restated a “buy” rating and set a $11.00 target price on shares of Independence Realty Trust in a research report on Friday, September 8th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $10.83.

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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