Taylor Frigon Capital Management buys $1,052,551 stake in Independence Realty Trust Inc (IRT)

Independence Realty Trust Inc (IRT) : Taylor Frigon Capital Management scooped up 35,189 additional shares in Independence Realty Trust Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 116,304 shares of Independence Realty Trust Inc which is valued at $1,052,551.Independence Realty Trust Inc makes up approximately 1.06% of Taylor Frigon Capital Management’s portfolio.

Other Hedge Funds, Including , California Public Employees Retirement System boosted its stake in IRT in the latest quarter, The investment management firm added 31,900 additional shares and now holds a total of 192,337 shares of Independence Realty Trust Inc which is valued at $1,740,650.Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in IRT in the latest quarter, The investment management firm added 2,500 additional shares and now holds a total of 5,980 shares of Independence Realty Trust Inc which is valued at $54,119. Terra Nova Asset Management sold out all of its stake in IRT during the most recent quarter. The investment firm sold 33,934 shares of IRT which is valued $300,995.Foundry Partners boosted its stake in IRT in the latest quarter, The investment management firm added 13,550 additional shares and now holds a total of 412,325 shares of Independence Realty Trust Inc which is valued at $3,467,653. Independence Realty Trust Inc makes up approx 0.32% of Foundry Partners’s portfolio.

Independence Realty Trust Inc opened for trading at $9.5 and hit $9.6 on the upside on Monday, eventually ending the session at $9.57, with a gain of 0.74% or 0.07 points. The heightened volatility saw the trading volume jump to 2,60,645 shares. Company has a market cap of $454 M.

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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