Independence Realty Trust, Inc. (NYSE:IRT) CEO Sells $212,100.00 in Stock

Independence Realty Trust, Inc. (NYSE:IRT) CEO Scott Schaeffer sold 10,000 shares of Independence Realty Trust 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 sale, the chief executive officer now directly owns 873,365 shares of the company’s stock, valued at $18,524,071.65. This trade represents a 1.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Independence Realty Trust Price Performance

Shares of NYSE IRT traded up $0.06 during trading on Wednesday, hitting $21.42. 1,428,438 shares of the company were exchanged, compared to its average volume of 2,121,510. The firm’s fifty day moving average price is $20.44 and its 200 day moving average price is $20.33. Independence Realty Trust, Inc. has a 1 year low of $15.25 and a 1 year high of $22.26. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 119.00, a PEG ratio of 2.91 and a beta of 1.19.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.24. Independence Realty Trust had a return on equity of 1.11% and a net margin of 6.15%. On average, research analysts forecast that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, March 28th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Friday, March 28th. Independence Realty Trust’s dividend payout ratio (DPR) is presently 355.56%.

Hedge Funds Weigh In On Independence Realty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC raised its stake in shares of Independence Realty Trust by 66.0% during 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 purchasing an additional 521 shares during the period. SRS Capital Advisors Inc. grew its stake in Independence Realty Trust by 627.5% during the 4th 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 raised its holdings in shares of 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 buying an additional 1,000 shares during the last quarter. Blue Trust Inc. grew its position in Independence Realty Trust by 33.9% in the 4th 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 in the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of Independence Realty Trust in the 3rd quarter worth $64,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.