Schwab Charles Investment Management Inc. increased its holdings in Independence Realty Trust Inc (NYSE:IRT) by 4.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,054,516 shares of the real estate investment trust’s stock after buying an additional 49,644 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Independence Realty Trust were worth $10,873,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of IRT. Blue Chip Wealth Management Inc. acquired a new position in shares of Independence Realty Trust in the 1st quarter valued at about $13,779,000. Principal Financial Group Inc. boosted its holdings in shares of Independence Realty Trust by 28.0% in the 1st quarter. Principal Financial Group Inc. now owns 3,267,283 shares of the real estate investment trust’s stock valued at $29,994,000 after buying an additional 715,305 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Independence Realty Trust by 71.0% in the 1st quarter. Nuveen Asset Management LLC now owns 787,614 shares of the real estate investment trust’s stock valued at $7,230,000 after buying an additional 327,074 shares during the period. BlackRock Inc. boosted its holdings in shares of Independence Realty Trust by 2.3% in the 1st quarter. BlackRock Inc. now owns 12,467,747 shares of the real estate investment trust’s stock valued at $114,452,000 after buying an additional 278,919 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. boosted its holdings in shares of Independence Realty Trust by 114.5% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 428,876 shares of the real estate investment trust’s stock valued at $4,422,000 after buying an additional 228,961 shares during the period. 83.88% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust stock opened at $10.36 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.45. The stock has a market cap of $906.37 million, a price-to-earnings ratio of 13.97 and a beta of 0.83. Independence Realty Trust Inc has a 52-week low of $8.26 and a 52-week high of $10.63.

Independence Realty Trust (NYSE:IRT) last posted its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $46.73 million for the quarter, compared to analyst estimates of $47.47 million. Independence Realty Trust had a net margin of 8.19% and a return on equity of 2.24%. equities analysts forecast that Independence Realty Trust Inc will post 0.75 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Shareholders of record on Friday, October 5th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date is Thursday, October 4th. Independence Realty Trust’s payout ratio is 98.63%.

Several research analysts have recently commented on IRT shares. Zacks Investment Research lowered shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday. Boenning Scattergood initiated coverage on shares of Independence Realty Trust in a research note on Monday, September 17th. They set an “outperform” rating and a $11.00 target price for the company. Finally, Compass Point reissued a “buy” rating on shares of Independence Realty Trust in a research note on Friday, August 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Independence Realty Trust has a consensus rating of “Buy” and a consensus price target of $11.00.

Independence Realty Trust Company Profile

Independence Realty Trust (NYSE: IRT) is a real estate investment trust that owns and operates 58 multifamily apartment properties, totaling 15,860 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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Institutional Ownership by Quarter for Independence Realty Trust (NYSE:IRT)

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