Foundry Partners LLC increased its position in Independence Realty Trust, Inc. (NYSE:IRT) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 634,075 shares of the real estate investment trust’s stock after buying an additional 5,050 shares during the period. Foundry Partners LLC’s holdings in Independence Realty Trust were worth $6,258,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Parametric Portfolio Associates LLC raised its stake in shares of 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 worth $655,000 after buying an additional 261 shares in the last quarter. UBS Group AG raised its stake in shares of Independence Realty Trust by 0.6% in the first quarter. UBS Group AG now owns 67,706 shares of the real estate investment trust’s stock worth $634,000 after buying an additional 384 shares in the last quarter. Kissinger Financial Services LLC raised its stake in shares of Independence Realty Trust by 1.0% in the second quarter. Kissinger Financial Services LLC now owns 94,825 shares of the real estate investment trust’s stock worth $936,000 after buying an additional 925 shares in the last quarter. Strs Ohio raised its stake in shares of 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 worth $1,051,000 after buying an additional 2,954 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Independence Realty Trust by 11.0% in the first quarter. Bank of America Corp DE now owns 44,684 shares of the real estate investment trust’s stock worth $419,000 after buying an additional 4,443 shares in the last quarter. 71.86% of the stock is owned by hedge funds and other institutional investors.

Independence Realty Trust, Inc. (NYSE IRT) opened at 9.97 on Friday. The stock has a 50 day moving average price of $10.02 and a 200-day moving average price of $9.50. Independence Realty Trust, Inc. has a 52 week low of $7.74 and a 52 week high of $10.70.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The company had revenue of $39.43 million during the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.22 earnings per share. On average, equities analysts forecast that Independence Realty Trust, Inc. will post $0.46 earnings per share for the current year.

The company also recently declared a monthly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be given a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 7.22%. The ex-dividend date of this dividend is Thursday, July 27th. Independence Realty Trust’s dividend payout ratio (DPR) is currently -313.03%.

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A number of equities analysts have recently weighed in on the company. BidaskClub upgraded Independence Realty Trust from a “hold” rating to a “buy” rating in a research note on Saturday. FBR & Co restated an “outperform” rating and issued a $10.75 target price on shares of Independence Realty Trust in a research note on Tuesday, July 11th. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Independence Realty Trust in a research note on Wednesday, August 2nd. ValuEngine downgraded Independence Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. Finally, Zacks Investment Research upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Tuesday, July 18th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Independence Realty Trust currently has a consensus rating of “Buy” and a consensus target price of $10.45.

In other news, CEO Scott Schaeffer purchased 35,000 shares of Independence Realty Trust stock in a transaction that occurred on Monday, August 7th. The stock was bought at an average price of $10.12 per share, with a total value of $354,200.00. Following the completion of the transaction, the chief executive officer now directly owns 155,306 shares of the company’s stock, valued at $1,571,696.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is owned by company insiders.

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

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