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 the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $21.28, for a total transaction of $10,640.00. Following the transaction, the director now owns 38,694 shares in the company, valued at $823,408.32. This represents a 1.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Independence Realty Trust Trading Up 0.3 %

Shares of IRT opened at $21.42 on Thursday. The business’s 50-day moving average price is $20.50 and its 200 day moving average price is $20.33. The stock has a market capitalization of $4.95 billion, a P/E ratio of 119.00, a P/E/G ratio of 2.91 and a beta of 0.98. Independence Realty Trust, Inc. has a 1-year low of $15.25 and a 1-year high of $22.26.

Independence Realty Trust (NYSE:IRT) last released 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 net margin of 6.15% and a return on equity of 1.11%. On average, research analysts predict that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IRT. Barclays lowered their price target on Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Jefferies Financial Group raised Independence Realty Trust from a “hold” rating to a “buy” rating and lifted their target price for the stock from $20.00 to $24.00 in a report on Monday, March 10th. JMP Securities reissued a “market outperform” rating and issued a $22.00 price target on shares of Independence Realty Trust in a report on Tuesday, February 11th. Finally, 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 objective on the stock. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IRT. California State Teachers Retirement System lifted its stake in Independence Realty Trust by 1.3% in the 4th quarter. California State Teachers Retirement System now owns 215,662 shares of the real estate investment trust’s stock worth $4,279,000 after acquiring an additional 2,688 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Independence Realty Trust by 2.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,292 shares of the real estate investment trust’s stock valued at $442,000 after purchasing an additional 488 shares during the period. Centaurus Financial Inc. lifted its position in shares of Independence Realty Trust by 7.8% in the fourth quarter. Centaurus Financial Inc. now owns 45,856 shares of the real estate investment trust’s stock worth $910,000 after purchasing an additional 3,301 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Independence Realty Trust during the fourth quarter worth approximately $111,000. Finally, Blue Sky Capital Consultants Group Inc. acquired a new position in Independence Realty Trust in the 4th quarter valued at approximately $5,147,000. Hedge funds and other institutional investors 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.