Blue Chip Wealth Management Inc. Invests $13.78 Million in Independence Realty Trust (IRT) Stock

Blue Chip Wealth Management Inc. acquired a new stake in shares of Independence Realty Trust (NYSE:IRT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,500,988 shares of the real estate investment trust’s stock, valued at approximately $13,779,000. Independence Realty Trust makes up approximately 14.1% of Blue Chip Wealth Management Inc.’s portfolio, making the stock its biggest holding. Blue Chip Wealth Management Inc. owned about 1.73% of Independence Realty Trust as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of IRT. BlackRock Inc. increased its holdings in shares of Independence Realty Trust by 11.0% during the fourth quarter. BlackRock Inc. now owns 12,188,828 shares of the real estate investment trust’s stock valued at $122,984,000 after acquiring an additional 1,206,269 shares in the last quarter. Centaurus Financial Inc. acquired a new position in shares of Independence Realty Trust during the fourth quarter valued at about $8,736,000. Principal Financial Group Inc. increased its holdings in shares of Independence Realty Trust by 28.0% during the first 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 acquiring an additional 715,305 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Independence Realty Trust by 121.7% during the fourth quarter. Renaissance Technologies LLC now owns 994,095 shares of the real estate investment trust’s stock valued at $10,030,000 after acquiring an additional 545,700 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of Independence Realty Trust by 71.0% during the first quarter. Nuveen Asset Management LLC now owns 787,614 shares of the real estate investment trust’s stock valued at $7,230,000 after acquiring an additional 327,074 shares in the last quarter. Hedge funds and other institutional investors own 81.11% of the company’s stock.

Several equities analysts have recently issued reports on IRT shares. Zacks Investment Research upgraded shares of Independence Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, May 31st. B. Riley cut their price objective on shares of Independence Realty Trust from $11.50 to $11.00 and set a “buy” rating on the stock in a report on Thursday, April 26th. ValuEngine upgraded shares of Independence Realty Trust from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 7th. Finally, Robert W. Baird set a $10.00 price objective on shares of Independence Realty Trust and gave the company a “buy” rating in a report on Friday, March 2nd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Independence Realty Trust has an average rating of “Buy” and an average target price of $11.14.



Shares of Independence Realty Trust opened at $10.03 on Friday, according to MarketBeat. The company has a market capitalization of $861.91 million, a P/E ratio of 13.74 and a beta of 0.86. Independence Realty Trust has a 52 week low of $8.26 and a 52 week high of $10.63. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.29 and a current ratio of 0.29.

Independence Realty Trust (NYSE:IRT) last issued its earnings results on Wednesday, April 25th. The real estate investment trust reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.14). The firm had revenue of $45.62 million during the quarter, compared to analysts’ expectations of $44.29 million. Independence Realty Trust had a net margin of 17.65% and a return on equity of 4.82%. sell-side analysts predict that Independence Realty Trust will post 0.75 earnings per share for the current fiscal year.

Independence Realty Trust Company Profile

Independence Realty Trust (NYSE: IRT) is a real estate investment trust that owns and operates 55 multifamily apartment properties, totaling 15,045 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.

Institutional Ownership by Quarter for Independence Realty Trust (NYSE:IRT)

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