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

Independence Realty Trust, Inc. (NYSE:IRT) Director Richard D. Gebert sold 500 shares of Independence Realty Trust 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 completion of the transaction, the director now owns 38,694 shares of the company’s stock, valued at approximately $823,408.32. This represents a 1.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Independence Realty Trust Trading Down 7.5 %

NYSE:IRT opened at $19.00 on Friday. Independence Realty Trust, Inc. has a twelve month low of $15.25 and a twelve month high of $22.26. The company has a market cap of $4.39 billion, a P/E ratio of 105.56, a P/E/G ratio of 2.91 and a beta of 0.98. The company’s 50-day moving average price is $20.54 and its 200-day moving average price is $20.32.

Independence Realty Trust (NYSE:IRT) last issued its 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, analysts expect that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, March 28th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Friday, March 28th. Independence Realty Trust’s dividend payout ratio (DPR) is presently 355.56%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IRT. Global Retirement Partners LLC increased its position in 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 worth $26,000 after purchasing an additional 521 shares during the last quarter. SRS Capital Advisors Inc. grew its stake in shares of Independence Realty Trust by 627.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 2,008 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Independence Realty Trust by 67.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 1,000 shares during the last quarter. Blue Trust Inc. raised its position in shares of Independence Realty Trust by 33.9% during 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 during the period. Finally, Sunbelt Securities Inc. acquired a new position in Independence Realty Trust in the third quarter valued at approximately $64,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

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.