BlueCrest Capital Management Ltd cut its stake in shares of Independence Realty Trust Inc (NYSE:IRT) by 27.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 102,705 shares of the real estate investment trust’s stock after selling 38,111 shares during the period. BlueCrest Capital Management Ltd owned about 0.12% of Independence Realty Trust worth $1,036,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Independence Realty Trust during the 3rd quarter valued at $105,000. CIBC Asset Management Inc purchased a new stake in Independence Realty Trust during the 4th quarter valued at $110,000. Amalgamated Bank purchased a new stake in Independence Realty Trust during the 4th quarter valued at $121,000. Oppenheimer & Co. Inc. purchased a new stake in Independence Realty Trust during the 3rd quarter valued at $138,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Independence Realty Trust by 10.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 14,400 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 79.86% of the company’s stock.
In other Independence Realty Trust news, CEO Scott Schaeffer acquired 15,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was purchased at an average price of $8.33 per share, with a total value of $124,950.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.58% of the company’s stock.
Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Independence Realty Trust had a net margin of 18.80% and a return on equity of 5.17%. The business had revenue of $42.31 million for the quarter, compared to the consensus estimate of $43.59 million. During the same period in the previous year, the firm earned $0.17 EPS. The company’s revenue was up 11.3% on a year-over-year basis. sell-side analysts forecast that Independence Realty Trust Inc will post 0.76 earnings per share for the current year.
A number of brokerages have weighed in on IRT. ValuEngine upgraded shares of Independence Realty Trust from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 7th. Robert W. Baird set a $10.00 target price on shares of Independence Realty Trust and gave the company a “buy” rating in a research note on Friday, March 2nd. National Securities boosted their target price on shares of Independence Realty Trust from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, November 22nd. B. Riley set a $12.00 target price on shares of Independence Realty Trust and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, Zacks Investment Research upgraded shares of Independence Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $11.29.
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.
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