Independence Realty Trust, Inc. (NYSE:IRT) Director Richard D. Gebert Sells 500 Shares

Independence Realty Trust, Inc. (NYSE:IRT - Get Free Report) 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 value of $10,640.00. Following the sale, the director now owns 38,694 shares in the company, valued at $823,408.32. This trade 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 available at this link.

Independence Realty Trust Stock Performance

Shares of IRT stock traded down $0.78 on Monday, hitting $18.22. 2,614,853 shares of the stock traded hands, compared to its average volume of 2,140,341. Independence Realty Trust, Inc. has a twelve month low of $15.27 and a twelve month high of $22.26. The firm's 50-day moving average price is $20.52 and its two-hundred day moving average price is $20.29. The stock has a market capitalization of $4.21 billion, a PE ratio of 101.24, a PEG ratio of 2.91 and a beta of 0.98.

Independence Realty Trust (NYSE:IRT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share 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%. On average, equities research analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

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Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, March 28th will be given a $0.16 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a yield of 3.51%. Independence Realty Trust's dividend payout ratio is currently 355.56%.

Hedge Funds Weigh In On Independence Realty Trust

Several large investors have recently modified their holdings of IRT. Wealth Enhancement Advisory Services LLC raised its holdings in Independence Realty Trust by 2.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,292 shares of the real estate investment trust's stock valued at $442,000 after buying an additional 488 shares during the period. Global Retirement Partners LLC raised its stake in shares of Independence Realty Trust by 66.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 521 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Independence Realty Trust by 0.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,984 shares of the real estate investment trust's stock valued at $2,050,000 after acquiring an additional 526 shares during the period. Amundi lifted its holdings in shares of Independence Realty Trust by 0.5% in the 4th quarter. Amundi now owns 122,544 shares of the real estate investment trust's stock worth $2,304,000 after acquiring an additional 597 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Independence Realty Trust by 0.5% during the 4th quarter. State of Alaska Department of Revenue now owns 133,831 shares of the real estate investment trust's stock worth $2,654,000 after purchasing an additional 643 shares during the period. Institutional investors and hedge funds own 88.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IRT. Barclays decreased their price objective 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. JMP Securities restated a "market outperform" rating and issued a $22.00 target price on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Jefferies Financial Group upgraded Independence Realty Trust from a "hold" rating to a "buy" rating and boosted their price target for the stock from $20.00 to $24.00 in a research report on Monday, March 10th. UBS Group assumed coverage on Independence Realty Trust in a report on Monday. They issued a "buy" rating and a $24.00 price objective on the stock. Finally, 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. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $22.22.

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.