Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by Tidal Investments LLC

Tidal Investments LLC trimmed its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,358 shares of the real estate investment trust’s stock after selling 6,967 shares during the quarter. Tidal Investments LLC’s holdings in Independence Realty Trust were worth $1,713,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. D. E. Shaw & Co. Inc. acquired a new position in shares of Independence Realty Trust in the 4th quarter valued at $1,781,000. Barclays PLC increased its holdings in shares of Independence Realty Trust by 182.3% in the 3rd quarter. Barclays PLC now owns 400,376 shares of the real estate investment trust’s stock valued at $8,208,000 after acquiring an additional 258,549 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Independence Realty Trust by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,561,615 shares of the real estate investment trust’s stock valued at $70,662,000 after acquiring an additional 60,919 shares during the period. Perigon Wealth Management LLC acquired a new position in shares of Independence Realty Trust in the 4th quarter valued at $222,000. Finally, Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of Independence Realty Trust by 5.9% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,015,292 shares of the real estate investment trust’s stock valued at $20,143,000 after acquiring an additional 56,923 shares during the period. 88.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on IRT shares. JMP Securities reiterated a “market outperform” rating and issued a $25.00 price objective on shares of Independence Realty Trust in a research report on Monday, May 5th. Compass Point reiterated a “neutral” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a research report on Tuesday, May 13th. Barclays lifted their price objective on shares of Independence Realty Trust from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. Jefferies Financial Group upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating and lifted their price objective for the company from $20.00 to $24.00 in a research report on Monday, March 10th. Finally, UBS Group started coverage on shares of Independence Realty Trust in a research report on Monday, April 7th. They issued a “buy” rating and a $24.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Independence Realty Trust presently has an average rating of “Moderate Buy” and a consensus price target of $22.70.

Independence Realty Trust Stock Performance

Independence Realty Trust stock opened at $18.00 on Friday. Independence Realty Trust, Inc. has a one year low of $15.66 and a one year high of $22.26. The business has a fifty day moving average of $19.46 and a two-hundred day moving average of $20.07. The company has a market cap of $4.21 billion, a P/E ratio of 99.98, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98.

Independence Realty Trust (NYSE:IRT) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.11%. The business had revenue of $160.91 million during the quarter, compared to analyst estimates of $164.08 million. During the same period last year, the business posted $0.27 EPS. Independence Realty Trust’s revenue was up .4% compared to the same quarter last year. Sell-side analysts predict that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Friday, June 27th will be issued a $0.17 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.68 dividend on an annualized basis and a yield of 3.78%. This is an increase from Independence Realty Trust’s previous quarterly dividend of $0.16. Independence Realty Trust’s dividend payout ratio (DPR) is 485.71%.

Insider Transactions at Independence Realty Trust

In other news, CEO Scott Schaeffer sold 10,000 shares of Independence Realty Trust stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $21.21, for a total transaction of $212,100.00. Following the completion of the transaction, the chief executive officer now owns 873,365 shares of the company’s stock, valued at $18,524,071.65. The trade was a 1.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold 11,000 shares of company stock valued at $232,245 in the last 90 days. 0.58% of the stock is currently owned by insiders.

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.