Independence Realty Trust, Inc. (IRT) Shares Sold by Chilton Capital Management LLC
Chilton Capital Management LLC reduced its position in Independence Realty Trust, Inc. (NYSE:IRT) by 21.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 805,102 shares of the real estate investment trust’s stock after selling 226,102 shares during the period. Chilton Capital Management LLC’s holdings in Independence Realty Trust were worth $7,946,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IRT. UBS Asset Management Americas Inc. acquired a new position in shares of Independence Realty Trust in the 4th quarter valued at about $103,000. Teachers Advisors LLC lifted its stake in shares of Independence Realty Trust by 51.3% in the 4th quarter. Teachers Advisors LLC now owns 104,770 shares of the real estate investment trust’s stock valued at $935,000 after purchasing an additional 35,543 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Independence Realty Trust by 7.2% in the 1st quarter. Bank of New York Mellon Corp now owns 720,494 shares of the real estate investment trust’s stock valued at $6,751,000 after purchasing an additional 48,186 shares in the last quarter. Swiss National Bank lifted its stake in shares of Independence Realty Trust by 6.0% in the 1st quarter. Swiss National Bank now owns 113,700 shares of the real estate investment trust’s stock valued at $1,065,000 after purchasing an additional 6,400 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in shares of Independence Realty Trust in the 1st quarter valued at about $102,000. 61.94% of the stock is currently owned by institutional investors and hedge funds.
Shares of Independence Realty Trust, Inc. (NYSE IRT) traded down 0.79% during midday trading on Thursday, hitting $10.01. The company had a trading volume of 245,188 shares. Independence Realty Trust, Inc. has a one year low of $7.74 and a one year high of $10.70. The company’s 50 day moving average is $10.15 and its 200 day moving average is $9.68.
Independence Realty Trust (NYSE:IRT) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping the 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 return on equity of 3.22% and a negative net margin of 10.28%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 EPS. Equities research analysts forecast 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. Stockholders of record on Thursday, August 31st were paid a dividend of $0.06 per share. The ex-dividend date was Tuesday, August 29th. This represents a $0.72 annualized dividend and a dividend yield of 7.09%. Independence Realty Trust’s dividend payout ratio (DPR) is presently -313.03%.
Several equities analysts have recently weighed in on the company. Zacks Investment Research lowered Independence Realty Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. FBR & Co reaffirmed a “buy” rating and issued a $11.50 price objective on shares of Independence Realty Trust in a research note on Tuesday, September 12th. ValuEngine raised Independence Realty Trust from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub lowered Independence Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Finally, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Independence Realty Trust in a research note on Friday, September 8th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Independence Realty Trust currently has a consensus 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 the firm’s stock in a transaction dated Monday, August 7th. The stock was bought at an average price of $10.12 per share, for a total transaction of $354,200.00. Following the purchase, the chief executive officer now owns 155,306 shares in the company, valued at approximately $1,571,696.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.
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