Independence Realty Trust Inc (IRT) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System lifted its position in Independence Realty Trust Inc (NYSE:IRT) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 337,831 shares of the real estate investment trust’s stock after buying an additional 15,294 shares during the quarter. California Public Employees Retirement System owned approximately 0.40% of Independence Realty Trust worth $3,436,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of IRT. Schwab Charles Investment Management Inc. raised its holdings in shares of Independence Realty Trust by 15.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 424,871 shares of the real estate investment trust’s stock valued at $4,194,000 after buying an additional 57,544 shares during the period. Rhumbline Advisers raised its holdings in shares of Independence Realty Trust by 87.2% in the 2nd quarter. Rhumbline Advisers now owns 130,860 shares of the real estate investment trust’s stock valued at $1,292,000 after buying an additional 60,961 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Independence Realty Trust by 66.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,201,315 shares of the real estate investment trust’s stock valued at $11,857,000 after buying an additional 480,821 shares during the period. Legal & General Group Plc raised its holdings in shares of Independence Realty Trust by 678.8% in the 2nd quarter. Legal & General Group Plc now owns 108,801 shares of the real estate investment trust’s stock valued at $1,074,000 after buying an additional 94,830 shares during the period. Finally, Comerica Bank purchased a new stake in shares of Independence Realty Trust in the 2nd quarter valued at $636,000. Hedge funds and other institutional investors own 78.49% of the company’s stock.

Several equities research analysts recently issued reports on IRT shares. ValuEngine upgraded Independence Realty Trust from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Zacks Investment Research downgraded Independence Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Independence Realty Trust in a report on Wednesday, November 1st. National Securities boosted their price objective on Independence Realty Trust from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, November 22nd. Finally, KeyCorp assumed coverage on Independence Realty Trust in a research note on Tuesday, December 5th. They set a “sector weight” rating for the company. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $11.33.

Independence Realty Trust Inc (NYSE:IRT) opened at $9.50 on Friday. Independence Realty Trust Inc has a one year low of $8.57 and a one year high of $10.63. The company has a market capitalization of $809.29, a price-to-earnings ratio of -36.54 and a beta of 1.06. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14.

Independence Realty Trust (NYSE:IRT) last released its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.11. Independence Realty Trust had a negative return on equity of 3.08% and a negative net margin of 10.91%. The firm had revenue of $39.86 million during the quarter, compared to analysts’ expectations of $40.38 million. During the same period in the previous year, the firm posted $0.21 EPS. Independence Realty Trust’s revenue for the quarter was up 1.1% on a year-over-year basis. analysts anticipate that Independence Realty Trust Inc will post 0.74 earnings per share for the current fiscal year.

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

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