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 stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $21.28, for a total value of $10,640.00. Following the transaction, the director now directly owns 38,694 shares of the company’s stock, valued at $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 SEC, which is accessible through this link.

Independence Realty Trust Stock Performance

IRT traded up $0.06 on Wednesday, reaching $21.42. The company had a trading volume of 1,428,438 shares, compared to its average volume of 2,121,510. The stock has a market cap of $4.95 billion, a P/E ratio of 119.00, a P/E/G ratio of 2.91 and a beta of 1.19. Independence Realty Trust, Inc. has a fifty-two week low of $15.25 and a fifty-two week high of $22.26. The company’s fifty day moving average is $20.44 and its 200 day moving average is $20.33.

Independence Realty Trust (NYSE:IRT) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, beating 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, sell-side analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Friday, March 28th. Independence Realty Trust’s dividend payout ratio is 355.56%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Jefferies Financial Group raised Independence Realty Trust from a “hold” rating to a “buy” rating and increased their price objective for the company from $20.00 to $24.00 in a report on Monday, March 10th. 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 target for the company. Barclays lowered 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 research note on Wednesday, February 19th. Finally, JMP Securities reiterated a “market outperform” rating and set a $22.00 price target 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Independence Realty Trust has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Institutional Trading of Independence Realty Trust

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in shares of Independence Realty Trust by 17.9% during the fourth quarter. Wellington Management Group LLP now owns 13,398,947 shares of the real estate investment trust’s stock worth $265,835,000 after purchasing an additional 2,037,968 shares during the period. Jennison Associates LLC grew its position in Independence Realty Trust by 4.8% during the fourth quarter. Jennison Associates LLC now owns 6,139,652 shares of the real estate investment trust’s stock worth $121,811,000 after buying an additional 278,959 shares in the last quarter. Geode Capital Management LLC increased its stake in Independence Realty Trust by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,857,943 shares of the real estate investment trust’s stock worth $120,108,000 after acquiring an additional 50,788 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Independence Realty Trust by 8.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,380,250 shares of the real estate investment trust’s stock worth $86,904,000 after acquiring an additional 352,307 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Independence Realty Trust by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,561,615 shares of the real estate investment trust’s stock valued at $70,662,000 after acquiring an additional 60,919 shares in the last quarter. Institutional investors own 88.25% of the company’s stock.

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.