Parametric Portfolio Associates LLC lifted its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 40.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,340 shares of the real estate investment trust’s stock after acquiring an additional 28,453 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.14% of Independence Realty Trust worth $971,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in IRT. Oppenheimer Asset Management Inc. grew its position in Independence Realty Trust by 147.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,153 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 6,056 shares during the period. Ameriprise Financial Inc. purchased a new position in shares of Independence Realty Trust during the 1st quarter worth $102,000. Advisor Group Inc. boosted its stake in shares of Independence Realty Trust by 76.8% during the 2nd quarter. Advisor Group Inc. now owns 10,251 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 4,454 shares during the last quarter. Profund Advisors LLC purchased a new position in shares of Independence Realty Trust during the 2nd quarter worth $103,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Independence Realty Trust during the 2nd quarter worth $114,000. 65.50% of the stock is owned by institutional investors.

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IRT has been the topic of several analyst reports. ValuEngine upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Friday, August 25th. BidaskClub upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Independence Realty Trust in a research note on Wednesday, August 2nd. Finally, Robert W. Baird reiterated a “buy” rating and set a $11.00 price target on shares of Independence Realty Trust in a research note on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $11.00.

Independence Realty Trust, Inc. (IRT) opened at $10.21 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.40. Independence Realty Trust, Inc. has a one year low of $8.06 and a one year high of $10.63. The firm has a market cap of $852.73, a price-to-earnings ratio of 13.99 and a beta of 1.07.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, topping the consensus estimate of $0.08 by $0.11. The business had revenue of $39.86 million for the quarter, compared to analysts’ expectations of $40.38 million. Independence Realty Trust had a negative net margin of 10.91% and a negative return on equity of 3.08%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 EPS. research analysts expect that Independence Realty Trust, Inc. will post 0.74 earnings per share for the current year.

The business also recently declared a monthly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 7.05%. The ex-dividend date of this dividend is Thursday, December 28th. Independence Realty Trust’s payout ratio is currently -276.92%.

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.

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

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