Dalton Greiner Hartman Maher & Co. boosted its position in Independence Realty Trust Inc (NYSE:IRT) by 4.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 514,837 shares of the real estate investment trust’s stock after purchasing an additional 22,283 shares during the period. Dalton Greiner Hartman Maher & Co. owned about 0.57% of Independence Realty Trust worth $7,249,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the stock. Simplex Trading LLC acquired a new stake in Independence Realty Trust during the third quarter worth approximately $45,000. Tower Research Capital LLC TRC acquired a new stake in Independence Realty Trust during the second quarter worth approximately $56,000. Bank of Montreal Can lifted its position in Independence Realty Trust by 684.4% during the second quarter. Bank of Montreal Can now owns 8,730 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 7,617 shares during the last quarter. Commonwealth Equity Services LLC acquired a new stake in Independence Realty Trust during the third quarter worth approximately $200,000. Finally, Natixis Advisors L.P. acquired a new stake in Independence Realty Trust during the second quarter worth approximately $201,000. Institutional investors and hedge funds own 87.16% of the company’s stock.
IRT has been the subject of several research reports. TheStreet downgraded shares of Independence Realty Trust from a “b-” rating to a “c+” rating in a research report on Friday, November 8th. National Securities initiated coverage on shares of Independence Realty Trust in a report on Friday, September 27th. They set a “buy” rating and a $14.00 target price on the stock. ValuEngine cut shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Compass Point cut shares of Independence Realty Trust from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Finally, Zacks Investment Research raised shares of Independence Realty Trust from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Thursday, January 2nd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Independence Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $12.42.
Shares of IRT opened at $14.43 on Thursday. Independence Realty Trust Inc has a 12 month low of $9.83 and a 12 month high of $15.89. The firm’s 50 day moving average is $14.22 and its 200-day moving average is $13.84. The stock has a market capitalization of $1.30 billion, a PE ratio of 19.50 and a beta of 0.74. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.62.
Independence Realty Trust (NYSE:IRT) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). Independence Realty Trust had a return on equity of 5.97% and a net margin of 18.23%. The business had revenue of $51.30 million for the quarter, compared to the consensus estimate of $51.69 million. Equities research analysts predict that Independence Realty Trust Inc will post 0.72 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Thursday, December 26th will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, December 24th. This is a boost from Independence Realty Trust’s previous quarterly dividend of $0.06. This represents a $0.72 annualized dividend and a dividend yield of 4.99%. Independence Realty Trust’s dividend payout ratio (DPR) is currently 97.30%.
About Independence Realty Trust
Independence Realty Trust (NYSE: IRT) is a real estate investment trust that currently owns and operates 58 multifamily apartment properties, totaling 15,880 units, across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers.
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