Independence Realty Trust Inc (IRT) Shares Sold by Ancora Advisors LLC
Ancora Advisors LLC lowered its stake in shares of Independence Realty Trust Inc (NYSE:IRT) by 1.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,123,759 shares of the real estate investment trust’s stock after selling 18,477 shares during the period. Ancora Advisors LLC’s holdings in Independence Realty Trust were worth $10,316,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. raised its stake in shares of Independence Realty Trust by 10.6% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 98,849 shares of the real estate investment trust’s stock valued at $907,000 after buying an additional 9,495 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in shares of Independence Realty Trust during the 4th quarter valued at about $233,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Independence Realty Trust by 181.0% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 33,443 shares of the real estate investment trust’s stock valued at $307,000 after buying an additional 21,542 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Independence Realty Trust by 21.4% during the 4th quarter. Nuveen Asset Management LLC now owns 1,103,427 shares of the real estate investment trust’s stock valued at $10,129,000 after buying an additional 194,283 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Independence Realty Trust by 52.2% during the 4th quarter. Bank of America Corp DE now owns 95,377 shares of the real estate investment trust’s stock valued at $875,000 after buying an additional 32,693 shares during the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.
In other news, Director Richard H. Ross sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.33, for a total transaction of $61,980.00. Following the sale, the director now directly owns 27,369 shares in the company, valued at approximately $282,721.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is owned by company insiders.
Independence Realty Trust (NYSE:IRT) last posted its earnings results on Thursday, February 21st. The real estate investment trust reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.15). Independence Realty Trust had a net margin of 13.77% and a return on equity of 4.16%. The business had revenue of $49.72 million for the quarter, compared to analyst estimates of $48.81 million. Analysts forecast that Independence Realty Trust Inc will post 0.76 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Friday, March 29th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date of this dividend is Thursday, March 28th. Independence Realty Trust’s dividend payout ratio (DPR) is presently 97.30%.
Separately, Zacks Investment Research upgraded Independence Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, January 31st. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $10.94.
Independence Realty Trust Company Profile
Independence Realty Trust (NYSE: IRT) is a real estate investment trust that currently owns and operates 59 multifamily apartment properties, totaling 16,120 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.
Featured Article: Outstanding Shares
Want to see what other hedge funds are holding IRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Independence Realty Trust Inc (NYSE:IRT).
Receive News & Ratings for Independence Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independence Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.