Orinda Asset Management LLC Has $890,000 Holdings in Independence Realty Trust Inc (IRT)

Orinda Asset Management LLC trimmed its holdings in Independence Realty Trust Inc (NYSE:IRT) by 42.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,973 shares of the real estate investment trust’s stock after selling 70,527 shares during the quarter. Independence Realty Trust accounts for about 2.5% of Orinda Asset Management LLC’s portfolio, making the stock its 15th biggest holding. Orinda Asset Management LLC owned 0.11% of Independence Realty Trust worth $890,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. State of Alaska Department of Revenue lifted its holdings in Independence Realty Trust by 2.8% in the 4th quarter. State of Alaska Department of Revenue now owns 58,192 shares of the real estate investment trust’s stock valued at $532,000 after acquiring an additional 1,580 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Independence Realty Trust by 9.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 42,200 shares of the real estate investment trust’s stock valued at $387,000 after buying an additional 3,600 shares in the last quarter. Credit Suisse AG lifted its stake in Independence Realty Trust by 3.4% during the third quarter. Credit Suisse AG now owns 221,504 shares of the real estate investment trust’s stock valued at $2,333,000 after buying an additional 7,268 shares in the last quarter. WINTON GROUP Ltd lifted its stake in Independence Realty Trust by 18.2% during the third quarter. WINTON GROUP Ltd now owns 51,448 shares of the real estate investment trust’s stock valued at $542,000 after buying an additional 7,908 shares in the last quarter. Finally, Virtu Financial LLC lifted its stake in Independence Realty Trust by 49.8% during the third quarter. Virtu Financial LLC now owns 27,843 shares of the real estate investment trust’s stock valued at $293,000 after buying an additional 9,257 shares in the last quarter. 87.05% of the stock is owned by institutional investors.

NYSE IRT opened at $10.50 on Thursday. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $931.00 million, a PE ratio of 14.38 and a beta of 0.93. Independence Realty Trust Inc has a 52-week low of $8.26 and a 52-week high of $10.59.

The business also recently declared a quarterly dividend, which was paid on Thursday, January 24th. Stockholders of record on Thursday, December 27th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 6.86%. The ex-dividend date of this dividend was Wednesday, December 26th. Independence Realty Trust’s dividend payout ratio (DPR) is 98.63%.

IRT has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Independence Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, January 17th. Compass Point lowered shares of Independence Realty Trust from a “buy” rating to a “neutral” rating in a research note on Friday, November 2nd. ValuEngine lowered shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. B. Riley lowered shares of Independence Realty Trust from a “buy” rating to a “neutral” rating and set a $10.50 price objective for the company. in a research note on Wednesday, February 6th. Finally, Boenning Scattergood set a $11.00 price objective on shares of Independence Realty Trust and gave the company a “buy” rating in a research note on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $10.75.

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About Independence Realty Trust

Independence Realty Trust (NYSE: IRT) is a real estate investment trust that currently owns and operates 59 multifamily apartment properties, totaling 16,120 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.

Further Reading: Compound Annual Growth Rate (CAGR)

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

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