Independence Realty Trust Inc (NYSE:IRT) Director Richard H. Ross sold 4,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $13.28, for a total transaction of $53,120.00. Following the transaction, the director now owns 28,843 shares in the company, valued at $383,035.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of IRT stock traded up $0.05 during midday trading on Tuesday, hitting $13.17. 637,366 shares of the company were exchanged, compared to its average volume of 462,424. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 17.80 and a beta of 0.82. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.63. The firm has a 50 day moving average price of $12.19. Independence Realty Trust Inc has a 52 week low of $8.75 and a 52 week high of $13.37.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $50.85 million for the quarter, compared to the consensus estimate of $50.17 million. Independence Realty Trust had a return on equity of 5.88% and a net margin of 18.42%. As a group, equities research analysts predict that Independence Realty Trust Inc will post 0.76 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Friday, June 28th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 5.47%. The ex-dividend date was Thursday, June 27th. Independence Realty Trust’s payout ratio is 97.30%.

Several research analysts have recently weighed in on IRT shares. ValuEngine upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Boenning Scattergood set a $11.00 price objective on shares of Independence Realty Trust and gave the stock a “buy” rating in a research note on Thursday, May 2nd. TheStreet upgraded shares of Independence Realty Trust from a “c” rating to a “b-” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $11.35.

Several hedge funds have recently made changes to their positions in IRT. Parametric Portfolio Associates LLC boosted its stake in Independence Realty Trust by 7.7% during the second quarter. Parametric Portfolio Associates LLC now owns 378,629 shares of the real estate investment trust’s stock worth $4,381,000 after acquiring an additional 26,923 shares in the last quarter. Pictet Asset Management Ltd. boosted its stake in Independence Realty Trust by 23.3% during the second quarter. Pictet Asset Management Ltd. now owns 18,000 shares of the real estate investment trust’s stock worth $208,000 after acquiring an additional 3,400 shares in the last quarter. Northern Trust Corp boosted its stake in Independence Realty Trust by 3.3% during the second quarter. Northern Trust Corp now owns 1,823,762 shares of the real estate investment trust’s stock worth $21,101,000 after acquiring an additional 58,688 shares in the last quarter. Natixis Advisors L.P. bought a new position in Independence Realty Trust during the second quarter worth $201,000. Finally, Renaissance Technologies LLC boosted its stake in Independence Realty Trust by 12.5% during the second quarter. Renaissance Technologies LLC now owns 4,792,513 shares of the real estate investment trust’s stock worth $55,449,000 after acquiring an additional 534,219 shares in the last quarter. 85.74% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Company Profile

Independence Realty Trust (NYSE: IRT) is a real estate investment trust that currently owns and operates 58 multifamily apartment properties, totaling 15,880 units, across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers.

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