Greenland Capital Management LP Has $454,000 Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Greenland Capital Management LP decreased its holdings in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 62.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,907 shares of the real estate investment trust's stock after selling 37,572 shares during the quarter. Greenland Capital Management LP's holdings in Independence Realty Trust were worth $454,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Bank of Montreal Can grew its position in Independence Realty Trust by 10.3% in the 4th quarter. Bank of Montreal Can now owns 38,439 shares of the real estate investment trust's stock valued at $763,000 after buying an additional 3,604 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Independence Realty Trust by 24.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,162,523 shares of the real estate investment trust's stock worth $23,064,000 after acquiring an additional 231,365 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Independence Realty Trust by 2.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 252,218 shares of the real estate investment trust's stock valued at $5,004,000 after acquiring an additional 5,223 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Independence Realty Trust by 9.1% during the fourth quarter. Wells Fargo & Company MN now owns 278,566 shares of the real estate investment trust's stock valued at $5,527,000 after acquiring an additional 23,186 shares during the period. Finally, Resona Asset Management Co. Ltd. bought a new stake in Independence Realty Trust during the fourth quarter worth approximately $1,793,000. 88.25% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling at Independence Realty Trust

In other Independence Realty Trust news, CEO Scott Schaeffer sold 10,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $21.21, for a total value of $212,100.00. Following the completion of the sale, the chief executive officer now owns 873,365 shares of the company's stock, valued at $18,524,071.65. The trade was a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.58% of the company's stock.

Independence Realty Trust Trading Up 1.5 %

NYSE IRT traded up $0.27 during trading on Monday, reaching $18.49. 838,709 shares of the company's stock were exchanged, compared to its average volume of 1,992,927. Independence Realty Trust, Inc. has a fifty-two week low of $15.27 and a fifty-two week high of $22.26. The company's fifty day simple moving average is $20.41 and its 200-day simple moving average is $20.19. The firm has a market capitalization of $4.27 billion, a PE ratio of 102.72, a P/E/G ratio of 2.91 and a beta of 0.98.

Independence Realty Trust (NYSE:IRT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 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%. Equities analysts forecast that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Dividend Announcement

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 given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Friday, March 28th. Independence Realty Trust's payout ratio is presently 355.56%.

Analyst Ratings Changes

Several analysts have recently weighed in on IRT shares. UBS Group initiated coverage on Independence Realty Trust in a report on Monday, April 7th. They issued a "buy" rating and a $24.00 price objective for the company. Barclays lifted their price objective on shares of Independence Realty Trust from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Friday. Wells Fargo & Company began coverage on shares of Independence Realty Trust in a report on Wednesday, March 19th. They set an "overweight" rating and a $24.00 target price for the company. Jefferies Financial Group raised Independence Realty Trust from a "hold" rating to a "buy" rating and upped their price target for the company from $20.00 to $24.00 in a report on Monday, March 10th. Finally, JMP Securities reissued a "market outperform" rating and set a $22.00 price objective on shares of Independence Realty Trust in a research note on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $22.33.

Independence Realty Trust Company Profile

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.