Syntal Capital Partners LLC Acquires New Shares in Independence Realty Trust Inc (NYSE:IRT)

Syntal Capital Partners LLC acquired a new stake in Independence Realty Trust Inc (NYSE:IRT) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 63,780 shares of the real estate investment trust’s stock, valued at approximately $898,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Arlington Capital Management Inc. raised its holdings in shares of Independence Realty Trust by 45.8% in the fourth quarter. Arlington Capital Management Inc. now owns 75,657 shares of the real estate investment trust’s stock valued at $1,065,000 after acquiring an additional 23,781 shares in the last quarter. Cetera Advisors LLC raised its holdings in shares of Independence Realty Trust by 29.9% in the fourth quarter. Cetera Advisors LLC now owns 18,703 shares of the real estate investment trust’s stock valued at $263,000 after acquiring an additional 4,308 shares in the last quarter. Comerica Bank raised its holdings in shares of Independence Realty Trust by 1.0% in the fourth quarter. Comerica Bank now owns 85,698 shares of the real estate investment trust’s stock valued at $1,291,000 after acquiring an additional 874 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Independence Realty Trust by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,327,360 shares of the real estate investment trust’s stock valued at $18,690,000 after acquiring an additional 45,264 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Independence Realty Trust by 28.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,178 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 937 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

A number of equities analysts have commented on the stock. TheStreet upgraded shares of Independence Realty Trust from a “c” rating to a “b-” rating in a report on Thursday, February 13th. Zacks Investment Research downgraded shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Compass Point downgraded shares of Independence Realty Trust from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $12.80.

Independence Realty Trust stock traded up $0.02 during trading hours on Wednesday, reaching $15.17. The stock had a trading volume of 61,000 shares, compared to its average volume of 860,974. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 30.38 and a beta of 0.76. The business’s 50 day moving average price is $15.04 and its 200-day moving average price is $14.48. Independence Realty Trust Inc has a 52 week low of $10.01 and a 52 week high of $16.85.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.17. The business had revenue of $51.43 million during the quarter, compared to the consensus estimate of $52.28 million. Independence Realty Trust had a net margin of 22.60% and a return on equity of 7.50%. On average, equities analysts anticipate that Independence Realty Trust Inc will post 0.76 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 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.

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

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