Independence Realty Trust, Inc. (NYSE:IRT) Director Sells $10,640.00 in Stock

Independence Realty Trust, Inc. (NYSE:IRT) Director Richard D. Gebert sold 500 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $21.28, for a total transaction of $10,640.00. Following the completion of the transaction, the director now directly owns 38,694 shares in the company, valued at approximately $823,408.32. This represents a 1.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Independence Realty Trust Stock Up 0.3 %

Independence Realty Trust stock traded up $0.06 during trading hours on Wednesday, hitting $21.42. The stock had a trading volume of 1,428,438 shares, compared to its average volume of 2,121,510. The business’s 50 day simple moving average is $20.44 and its 200-day simple moving average is $20.33. Independence Realty Trust, Inc. has a one year low of $15.25 and a one year high of $22.26. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 119.00, a P/E/G ratio of 2.91 and a beta of 1.19.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.24. Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.11%. Research analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Friday, March 28th will be paid a $0.16 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.64 annualized dividend and a dividend yield of 2.99%. Independence Realty Trust’s dividend payout ratio is 355.56%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wells Fargo & Company began coverage on shares of Independence Realty Trust in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $24.00 price objective on the stock. Jefferies Financial Group upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and lifted their price target for the company from $20.00 to $24.00 in a research note on Monday, March 10th. JMP Securities restated a “market outperform” rating and set a $22.00 price objective on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Finally, Barclays reduced their price objective on Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Independence Realty Trust has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

Institutional Trading of Independence Realty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of IRT. Global Retirement Partners LLC increased its stake in shares of Independence Realty Trust by 66.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 521 shares during the period. SRS Capital Advisors Inc. boosted its holdings in Independence Realty Trust by 627.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 2,008 shares during the last quarter. Jones Financial Companies Lllp increased its position in Independence Realty Trust by 67.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 1,000 shares during the period. Blue Trust Inc. raised its holdings in Independence Realty Trust by 33.9% during the 4th quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 692 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new position in Independence Realty Trust during the 3rd quarter worth approximately $64,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

About Independence Realty Trust

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL.