Independence Realty Trust, Inc. (NYSE:IRT) Stock Position Decreased by Centiva Capital LP

Centiva Capital LP lessened its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 62.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,897 shares of the real estate investment trust's stock after selling 36,309 shares during the quarter. Centiva Capital LP's holdings in Independence Realty Trust were worth $434,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its position in shares of Independence Realty Trust by 182.3% during the third quarter. Barclays PLC now owns 400,376 shares of the real estate investment trust's stock worth $8,208,000 after purchasing an additional 258,549 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Independence Realty Trust by 12.3% in the third quarter. Franklin Resources Inc. now owns 256,234 shares of the real estate investment trust's stock worth $4,981,000 after buying an additional 28,059 shares during the last quarter. Fulton Bank N.A. acquired a new stake in Independence Realty Trust in the fourth quarter valued at $288,000. HB Wealth Management LLC bought a new position in Independence Realty Trust during the 4th quarter valued at $242,000. Finally, Grove Bank & Trust bought a new position in Independence Realty Trust during the 4th quarter valued at $7,636,000. Hedge funds and other institutional investors own 88.25% of the company's stock.

Independence Realty Trust Stock Performance

Shares of NYSE IRT traded down $0.40 during trading on Tuesday, hitting $18.91. The company had a trading volume of 2,125,046 shares, compared to its average volume of 2,098,000. The business's 50-day moving average is $19.82 and its 200 day moving average is $20.13. The company has a market cap of $4.42 billion, a P/E ratio of 105.06, a PEG ratio of 2.91 and a beta of 0.98. Independence Realty Trust, Inc. has a 52 week low of $15.66 and a 52 week high of $22.26.

Independence Realty Trust (NYSE:IRT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). Independence Realty Trust had a return on equity of 1.11% and a net margin of 6.15%. The company had revenue of $160.91 million for the quarter, compared to analyst estimates of $164.08 million. During the same quarter in the previous year, the firm posted $0.27 EPS. Independence Realty Trust's quarterly revenue was up .4% on a year-over-year basis. On average, research analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Friday, March 28th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Friday, March 28th. Independence Realty Trust's payout ratio is 457.14%.

Insider Buying and Selling at Independence Realty Trust

In related news, CEO Scott Schaeffer sold 10,000 shares of the company's 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 11,000 shares of company stock valued at $232,245 in the last three months. 0.58% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on IRT shares. UBS Group started coverage on shares of Independence Realty Trust in a report on Monday, April 7th. They set a "buy" rating and a $24.00 target price on the stock. Barclays lifted their target price on Independence Realty Trust from $21.00 to $22.00 and gave the company an "equal weight" rating in a research note on Friday. JMP Securities reissued a "market outperform" rating and issued a $25.00 price target on shares of Independence Realty Trust in a research note on Monday, May 5th. Wells Fargo & Company assumed coverage on shares of Independence Realty Trust in a research note on Wednesday, March 19th. They set an "overweight" rating and a $24.00 price objective on the stock. Finally, Jefferies Financial Group raised shares of Independence Realty Trust from a "hold" rating to a "buy" rating and raised their target price for the company from $20.00 to $24.00 in a research note on Monday, March 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.70.

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.