Independence Realty Trust, Inc. (NYSE:IRT) Position Maintained by Spirit of America Management Corp NY

Spirit of America Management Corp NY maintained its position in Independence Realty Trust, Inc. (NYSE:IRT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,579 shares of the real estate investment trust’s stock at the end of the second quarter. Spirit of America Management Corp NY’s holdings in Independence Realty Trust were worth $756,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IRT. State of New Jersey Common Pension Fund D boosted its position in Independence Realty Trust by 0.6% in the first quarter. State of New Jersey Common Pension Fund D now owns 878,100 shares of the real estate investment trust’s stock worth $8,227,000 after buying an additional 5,000 shares during the period. Strs Ohio boosted its position in Independence Realty Trust by 2.7% in the first quarter. Strs Ohio now owns 112,260 shares of the real estate investment trust’s stock worth $1,051,000 after buying an additional 2,954 shares during the period. Shell Asset Management Co. purchased a new position in Independence Realty Trust during the first quarter worth approximately $901,000. Orinda Asset Management LLC boosted its position in Independence Realty Trust by 0.9% in the first quarter. Orinda Asset Management LLC now owns 1,058,695 shares of the real estate investment trust’s stock worth $9,920,000 after buying an additional 9,243 shares during the period. Finally, Kissinger Financial Services LLC boosted its position in Independence Realty Trust by 8.6% in the first quarter. Kissinger Financial Services LLC now owns 93,900 shares of the real estate investment trust’s stock worth $880,000 after buying an additional 7,475 shares during the period. Institutional investors own 71.83% of the company’s stock.

Shares of Independence Realty Trust, Inc. (IRT) opened at 10.32 on Tuesday. The firm has a 50-day moving average price of $10.04 and a 200-day moving average price of $9.51. Independence Realty Trust, Inc. has a 1-year low of $7.74 and a 1-year high of $10.70.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. Independence Realty Trust had a negative net margin of 10.28% and a negative return on equity of 3.22%. The firm had revenue of $39.43 million for the quarter, compared to analyst estimates of $39.43 million. During the same quarter in the previous year, the business posted $0.22 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts forecast that Independence Realty Trust, Inc. will post $0.46 EPS for the current fiscal year.

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be issued a $0.06 dividend. The ex-dividend date is Thursday, July 27th. This represents a $0.72 dividend on an annualized basis and a yield of 6.98%. Independence Realty Trust’s dividend payout ratio is currently -313.03%.

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Several analysts have recently issued reports on the company. Zacks Investment Research upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, July 18th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Independence Realty Trust in a research note on Wednesday, August 2nd. ValuEngine cut Independence Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. BidaskClub upgraded Independence Realty Trust from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, JMP Securities reiterated an “outperform” rating and issued a $11.50 price objective (up from $10.50) on shares of Independence Realty Trust in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $10.45.

In other news, CEO Scott Schaeffer acquired 35,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were purchased at an average price of $10.12 per share, for a total transaction of $354,200.00. Following the acquisition, the chief executive officer now directly owns 155,306 shares of the company’s stock, valued at approximately $1,571,696.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.58% of the company’s stock.

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.