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

Independence Realty Trust, Inc. (NYSE:IRT) Director Richard D. Gebert sold 500 shares of Independence Realty Trust stock in a transaction on Tuesday, April 1st. The stock was 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 owns 38,694 shares of the company’s stock, valued at approximately $823,408.32. This trade represents a 1.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Independence Realty Trust Stock Up 0.3 %

Shares of IRT stock opened at $21.42 on Thursday. The company has a market cap of $4.95 billion, a P/E ratio of 119.00, a PEG ratio of 2.91 and a beta of 0.98. The business has a 50 day moving average of $20.50 and a two-hundred day moving average of $20.33. Independence Realty Trust, Inc. has a 52 week low of $15.25 and a 52 week high of $22.26.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.24. Independence Realty Trust had a return on equity of 1.11% and a net margin of 6.15%. Analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Announces Dividend

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

Institutional Trading of Independence Realty Trust

A number of large investors have recently modified their holdings of the company. FMR LLC grew its position in Independence Realty Trust by 758.8% in the 3rd quarter. FMR LLC now owns 285,193 shares of the real estate investment trust’s stock worth $5,846,000 after purchasing an additional 251,984 shares during the last quarter. BNP Paribas Financial Markets increased its position in Independence Realty Trust by 9.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 55,102 shares of the real estate investment trust’s stock valued at $1,130,000 after acquiring an additional 4,755 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Independence Realty Trust by 0.5% during 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Independence Realty Trust by 419.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,433,058 shares of the real estate investment trust’s stock worth $29,378,000 after acquiring an additional 1,157,052 shares during the period. Finally, Captrust Financial Advisors bought a new position in shares of Independence Realty Trust in the third quarter worth $306,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on IRT. 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 price objective for the company. Barclays lowered their price objective 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. JMP Securities reaffirmed a “market outperform” rating and set a $22.00 target price on shares of Independence Realty Trust in a report on Tuesday, February 11th. Finally, Jefferies Financial Group upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and boosted their price target for the company from $20.00 to $24.00 in a report on Monday, March 10th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Independence Realty Trust has an average rating of “Moderate Buy” and an average price target of $22.00.

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.