Federated Investors Inc. PA continued to hold its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,000 shares of the real estate investment trust’s stock at the end of the second quarter. Federated Investors Inc. PA’s holdings in Independence Realty Trust were worth $247,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. bought a new position in Independence Realty Trust in the first quarter valued at about $102,000. UBS Asset Management Americas Inc. bought a new position in Independence Realty Trust in the fourth quarter valued at about $103,000. State of Alaska Department of Revenue bought a new position in Independence Realty Trust in the second quarter valued at about $114,000. Raymond James Financial Services Advisors Inc. bought a new position in Independence Realty Trust in the first quarter valued at about $122,000. Finally, GW&K Investment Management LLC bought a new position in Independence Realty Trust in the second quarter valued at about $136,000. Institutional investors and hedge funds own 63.37% of the company’s stock.

Independence Realty Trust, Inc. (IRT) opened at 10.17 on Friday. The firm has a 50-day moving average price of $10.15 and a 200 day moving average price of $9.68. Independence Realty Trust, Inc. has a 1-year low of $7.74 and a 1-year high of $10.70.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $39.43 million for the quarter, compared to analyst estimates of $39.43 million. During the same quarter in the previous year, the company posted $0.22 EPS. The business’s revenue was up 2.9% on a year-over-year basis. Equities research analysts anticipate that Independence Realty Trust, Inc. will post $0.47 earnings per share for the current fiscal year.

The business also recently declared a monthly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a $0.06 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 7.08%. Independence Realty Trust’s dividend payout ratio (DPR) is presently -313.03%.

IRT has been the topic of several recent research reports. Zacks Investment Research upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Monday, September 4th. ValuEngine upgraded Independence Realty Trust from a “hold” rating to a “buy” rating in a report on Friday, September 1st. FBR & Co reiterated an “outperform” rating and issued a $10.75 price target on shares of Independence Realty Trust in a report on Tuesday, July 11th. JMP Securities reiterated an “outperform” rating and issued a $11.50 price target (up previously from $10.50) on shares of Independence Realty Trust in a report on Friday, June 30th. Finally, Ladenburg Thalmann Financial Services reiterated a “buy” rating and issued a $11.00 price target on shares of Independence Realty Trust in a report on Friday, September 8th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Independence Realty Trust has an average rating of “Buy” and an average price target of $10.83.

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In related news, CEO Scott Schaeffer purchased 35,000 shares of Independence Realty Trust stock in a transaction on Monday, August 7th. The shares were purchased at an average price of $10.12 per share, for a total transaction of $354,200.00. Following the transaction, the chief executive officer now owns 155,306 shares of the company’s stock, valued at approximately $1,571,696.72. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.58% of the company’s stock.

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.

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

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