Independence Realty Trust, Inc. (NYSE:IRT) CEO Scott Schaeffer Sells 10,000 Shares of Stock

Independence Realty Trust, Inc. (NYSE:IRT) CEO Scott Schaeffer sold 10,000 shares of Independence Realty Trust stock in a transaction 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 transaction, the chief executive officer now directly owns 873,365 shares of the company’s stock, valued at approximately $18,524,071.65. The trade was a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Independence Realty Trust Stock Performance

NYSE:IRT opened at $21.42 on Thursday. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 119.00, a P/E/G ratio of 2.91 and a beta of 0.98. The stock’s fifty day moving average price is $20.50 and its two-hundred day moving average price is $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 issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (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, equities analysts predict that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal 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 paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, March 28th. Independence Realty Trust’s dividend payout ratio (DPR) is presently 355.56%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Independence Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System grew its holdings in Independence Realty Trust by 1.3% during 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 during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Independence Realty Trust by 2.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,292 shares of the real estate investment trust’s stock worth $442,000 after purchasing an additional 488 shares during the period. Centaurus Financial Inc. increased its holdings in 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 valued at $910,000 after purchasing an additional 3,301 shares during the last quarter. Ameriflex Group Inc. acquired a new position in Independence Realty Trust in the fourth quarter valued at about $111,000. Finally, Blue Sky Capital Consultants Group Inc. bought a new position in Independence Realty Trust during the fourth quarter worth about $5,147,000. 88.25% of the stock is owned by institutional investors.

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.