Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP cut its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 190,400 shares of the real estate investment trust’s stock after selling 2,969 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Independence Realty Trust were worth $3,778,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its holdings in shares of Independence Realty Trust by 8.7% in 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 purchasing an additional 352,307 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Independence Realty Trust by 17.9% in the fourth quarter. Wellington Management Group LLP now owns 13,398,947 shares of the real estate investment trust’s stock valued at $265,835,000 after buying an additional 2,037,968 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Independence Realty Trust by 2.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 71,170 shares of the real estate investment trust’s stock valued at $1,412,000 after acquiring an additional 1,652 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Independence Realty Trust by 5.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 298,131 shares of the real estate investment trust’s stock worth $5,915,000 after acquiring an additional 16,331 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Independence Realty Trust in the 4th quarter worth $5,711,000. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Stock Performance

Independence Realty Trust stock opened at $19.00 on Monday. Independence Realty Trust, Inc. has a twelve month low of $15.27 and a twelve month high of $22.26. The firm has a market cap of $4.39 billion, a PE ratio of 105.56, a P/E/G ratio of 2.91 and a beta of 0.98. The firm’s 50 day moving average price is $20.54 and its two-hundred day moving average price is $20.31.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (EPS) 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%. Equities analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Friday, March 28th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.64 annualized dividend and a dividend yield of 3.37%. Independence Realty Trust’s payout ratio is 355.56%.

Insider Buying and Selling

In other Independence Realty Trust news, CEO Scott Schaeffer sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $21.21, for a total value of $212,100.00. Following the completion of the sale, the chief executive officer now directly owns 873,365 shares of the company’s stock, valued at $18,524,071.65. The trade was a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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