Pvg Asset Management Lowers stake in Independence Realty Trust Inc (IRT)

Independence Realty Trust Inc (IRT) : Pvg Asset Management reduced its stake in Independence Realty Trust Inc by 3.11% during the most recent quarter end. The investment management company now holds a total of 695,254 shares of Independence Realty Trust Inc which is valued at $6,667,486 after selling 22,318 shares in Independence Realty Trust Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Independence Realty Trust Inc makes up approximately 2.64% of Pvg Asset Management’s portfolio.

Other Hedge Funds, Including , Tiaa Cref Investment Management boosted its stake in IRT in the latest quarter, The investment management firm added 58,586 additional shares and now holds a total of 261,815 shares of Independence Realty Trust Inc which is valued at $2,510,806. Private Management Group Inc sold out all of its stake in IRT during the most recent quarter. The investment firm sold 568,369 shares of IRT which is valued $5,450,659.Blair William Coil reduced its stake in IRT by selling 37,192 shares or 4.05% in the most recent quarter. The Hedge Fund company now holds 880,145 shares of IRT which is valued at $8,326,172. Independence Realty Trust Inc makes up approx 0.07% of Blair William Coil’s portfolio.

Independence Realty Trust Inc closed down -0.05 points or -0.54% at $9.28 with 1,77,399 shares getting traded on Monday. Post opening the session at $9.27, the shares hit an intraday low of $9.26 and an intraday high of $9.36 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Independence Realty Trust Inc reported $0.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.21. The company had revenue of $38.27 million for the quarter, compared to analysts expectations of $38.68 million. The company’s revenue was up 68.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

Many Wall Street Analysts have commented on Independence Realty Trust Inc. Company shares were Reiterated by FBR Capital on Aug 4, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 9.50 from a previous price target of $8 .

Independence Realty Trust Inc. is a real estate investment trust (REIT). The Company owns and operates a portfolio of apartment properties located throughout the United States. The Company is managed by a subsidiary of RAIT Financial Trust (RAIT). AS of December 31 2014 The Company’s portfolio consisted of Belle Creek Copper Mill Crestmont Cumberland Glen Heritage Trace Tresa at Arrowhead Centrepoint Runaway Bay Berkshire Square The Crossings Reserve at Eagle Ridge Windrush Heritage Park Raindance Augusta Invitational King’s Landing Carrington Park Arbors at the Reservoir Walnut Hill Lenoxplace Stonebridge Bennington Pond Prospect Park Brookside Jamestown Meadows Oxmoor Stonebridge at the Ranch and Iron Rock Ranch.

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