Independence Realty Trust, Inc. (NYSE:IRT - Get Free Report) Director Richard D. Gebert sold 500 shares of the business's stock in a transaction on 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 sale, the director now directly owns 38,694 shares of the company's stock, valued at approximately $823,408.32. This trade represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Independence Realty Trust Price Performance
IRT traded up $0.30 during trading hours on Tuesday, hitting $18.53. 462,405 shares of the stock were exchanged, compared to its average volume of 2,134,494. Independence Realty Trust, Inc. has a 12 month low of $15.27 and a 12 month high of $22.26. The stock has a 50-day simple moving average of $20.52 and a 200-day simple moving average of $20.29. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 103.12, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98.
Independence Realty Trust (NYSE:IRT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.24. Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.11%. Sell-side analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.
Independence Realty Trust Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, March 28th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Friday, March 28th. Independence Realty Trust's dividend payout ratio is 355.56%.
Analyst Ratings Changes
IRT has been the topic of a number of analyst reports. Wells Fargo & Company initiated coverage on Independence Realty Trust in a report on Wednesday, March 19th. They issued an "overweight" rating and a $24.00 price objective on the stock. Jefferies Financial Group raised shares of Independence Realty Trust from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $20.00 to $24.00 in a report on Monday, March 10th. JMP Securities reissued a "market outperform" rating and set a $22.00 price target on shares of Independence Realty Trust in a research note on Tuesday, February 11th. UBS Group assumed coverage on shares of Independence Realty Trust in a research report on Monday. They issued a "buy" rating and a $24.00 price objective on the stock. Finally, Barclays decreased their price target on shares of Independence Realty Trust from $21.00 to $20.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Independence Realty Trust currently has a consensus rating of "Moderate Buy" and an average price target of $22.22.
Check Out Our Latest Analysis on Independence Realty Trust
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC boosted its position in Independence Realty Trust by 66.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 521 shares during the period. SRS Capital Advisors Inc. increased its position in Independence Realty Trust by 627.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust's stock worth $46,000 after buying an additional 2,008 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Independence Realty Trust by 67.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 1,000 shares during the period. Blue Trust Inc. lifted its stake in shares of Independence Realty Trust by 33.9% in the fourth quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust's stock valued at $56,000 after buying an additional 692 shares during the period. Finally, Sunbelt Securities Inc. acquired a new position in shares of Independence Realty Trust in the third quarter valued at $64,000. 88.25% of the stock is owned by hedge funds and other institutional investors.
About Independence Realty Trust
(
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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.
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