Hilton Capital Management adds Independence Realty Trust Inc (IRT) to its portfolio

Independence Realty Trust Inc (IRT) : Hilton Capital Management added new position in Independence Realty Trust Inc during the most recent quarter end. The investment management firm now holds 902,732 shares of Independence Realty Trust Inc which is valued at $7,808,632 , the company said in a statement filed on Oct 11, 2016 with the SEC.Independence Realty Trust Inc makes up approximately 2.03% of Hilton Capital Management’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa boosted its stake in IRT in the latest quarter, The investment management firm added 1,132 additional shares and now holds a total of 2,779 shares of Independence Realty Trust Inc which is valued at $23,733.

Independence Realty Trust Inc closed down -0.16 points or -1.85% at $8.49 with 15,91,159 shares getting traded on Tuesday. Post opening the session at $8.71, the shares hit an intraday low of $8.36 and an intraday high of $8.71 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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