LSV Asset Management Purchases 107,300 Shares of Independence Realty Trust, Inc. (IRT)
LSV Asset Management raised its position in Independence Realty Trust, Inc. (NYSE:IRT) by 6.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,769,897 shares of the real estate investment trust’s stock after acquiring an additional 107,300 shares during the quarter. LSV Asset Management owned approximately 2.56% of Independence Realty Trust worth $17,468,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. lifted its stake in 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 acquiring an additional 6,056 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in Independence Realty Trust in the first quarter worth approximately $102,000. UBS Asset Management Americas Inc. purchased a new position in Independence Realty Trust in the fourth quarter worth approximately $103,000. State of Alaska Department of Revenue purchased a new position in Independence Realty Trust in the second quarter worth approximately $114,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Independence Realty Trust in the first quarter worth approximately $122,000. Institutional investors own 74.82% of the company’s stock.
In other news, CEO Scott Schaeffer bought 35,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was acquired at an average price of $10.12 per share, with a total value of $354,200.00. Following the completion of the purchase, the chief executive officer now directly owns 155,306 shares of the company’s stock, valued at approximately $1,571,696.72. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.58% of the company’s stock.
A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a research note on Tuesday. Ladenburg Thalmann Financial Services reissued a “buy” rating and set a $11.00 price objective on shares of Independence Realty Trust in a report on Friday, September 8th. BidaskClub raised shares of Independence Realty Trust from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. FBR & Co reissued a “buy” rating and set a $11.50 price objective on shares of Independence Realty Trust in a report on Tuesday. Finally, ValuEngine raised shares of Independence Realty Trust from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Independence Realty Trust currently has an average rating of “Buy” and an average target price of $10.83.
Shares of Independence Realty Trust, Inc. (NYSE:IRT) opened at 10.10 on Thursday. The firm’s 50 day moving average is $10.14 and its 200 day moving average is $9.65. Independence Realty Trust, Inc. has a 12 month low of $7.74 and a 12 month high of $10.70.
Independence Realty Trust (NYSE:IRT) last announced its 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. Independence Realty Trust had a negative return on equity of 3.22% and a negative net margin of 10.28%. The business had revenue of $39.43 million during the quarter, compared to analysts’ expectations of $39.43 million. During the same quarter last year, the business posted $0.22 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities analysts forecast that Independence Realty Trust, Inc. will post $0.47 EPS for the current year.
The company also recently announced a monthly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were paid a dividend of $0.06 per share. The ex-dividend date was Thursday, July 27th. This represents a $0.72 annualized dividend and a yield of 7.13%. Independence Realty Trust’s dividend payout ratio is currently -313.03%.
Independence Realty Trust Company 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.
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