We Have Added More Independence Realty Trust (ticker:IRT) Shares
By: Tim McPartland,
As we have been noting we have been watching for bargains and earlier today added more shares of Independence Realty Trust (ticker:IRT). The model held 500 shares and we have added another 300 at a price of $9.54. We bought 300 in our personal account as well (we had previously liquidated our personal position at much higher price levels). We added only 300 shares to the accounts at this time as we will do another 300 if the prices tumbles further. Current yield is in the 7.6% area.
Recall that IRT is a newer apartment REIT and is in a high growth mode (thus they will issue more shares) so volatility is expected.
Their website is here.
We are watching Chambers Street Properties (ticker:CSG) which is trading at a 52 week low with a current strongly covered yield of 6.86% and Bluerock Residential REIT (ticker:BRG) with a dividend of 8.78%. CSG is a REIT with warehousing and office properties and covers their dividend by 150%. Bluerock is an apartment REIT which we need to do more research on yet.