Barclays PLC Reduces Stock Position in Independence Realty Trust Inc (NYSE:IRT)

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Barclays PLC cut its stake in Independence Realty Trust Inc (NYSE:IRT) by 7.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 195,074 shares of the real estate investment trust’s stock after selling 16,328 shares during the period. Barclays PLC owned approximately 0.21% of Independence Realty Trust worth $2,791,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of IRT. Renaissance Technologies LLC grew its position in shares of Independence Realty Trust by 12.5% in the second quarter. Renaissance Technologies LLC now owns 4,792,513 shares of the real estate investment trust’s stock valued at $55,449,000 after purchasing an additional 534,219 shares during the last quarter. Morgan Stanley grew its position in shares of Independence Realty Trust by 278.6% in the second quarter. Morgan Stanley now owns 512,673 shares of the real estate investment trust’s stock valued at $5,931,000 after purchasing an additional 377,277 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Independence Realty Trust by 48.0% in the second quarter. Wells Fargo & Company MN now owns 1,038,334 shares of the real estate investment trust’s stock valued at $12,013,000 after purchasing an additional 336,533 shares during the last quarter. First Trust Advisors LP grew its position in shares of Independence Realty Trust by 1,357.0% in the second quarter. First Trust Advisors LP now owns 238,457 shares of the real estate investment trust’s stock valued at $2,759,000 after purchasing an additional 222,091 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Independence Realty Trust by 22.1% in the second quarter. Nuveen Asset Management LLC now owns 1,154,166 shares of the real estate investment trust’s stock valued at $13,352,000 after purchasing an additional 208,923 shares during the last quarter. 87.14% of the stock is owned by institutional investors.

IRT has been the topic of several research reports. Compass Point lowered shares of Independence Realty Trust from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. TheStreet lowered shares of Independence Realty Trust from a “b-” rating to a “c+” rating in a research report on Friday, November 8th. Capital One Financial reiterated an “equal weight” rating on shares of Independence Realty Trust in a research report on Monday, September 16th. National Securities initiated coverage on shares of Independence Realty Trust in a research report on Friday, September 27th. They issued a “buy” rating and a $14.00 price target on the stock. Finally, ValuEngine lowered shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Independence Realty Trust presently has an average rating of “Hold” and a consensus target price of $12.08.

Shares of NYSE IRT opened at $14.62 on Tuesday. Independence Realty Trust Inc has a 1 year low of $8.75 and a 1 year high of $15.89. The firm’s 50 day moving average price is $14.79 and its 200 day moving average price is $13.23. The firm has a market cap of $1.34 billion, a P/E ratio of 19.76 and a beta of 0.76. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.50 and a current ratio of 0.50.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). Independence Realty Trust had a return on equity of 5.97% and a net margin of 18.23%. The firm had revenue of $51.30 million for the quarter, compared to analyst estimates of $51.69 million. As a group, equities analysts predict that Independence Realty Trust Inc will post 0.72 EPS for the current year.

About Independence Realty Trust

Independence Realty Trust (NYSE: IRT) is a real estate investment trust that currently owns and operates 58 multifamily apartment properties, totaling 15,880 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.

Read More: Capital Gains Distribution

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

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