Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by Hunter Perkins Capital Management LLC

Hunter Perkins Capital Management LLC lowered its position in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 44.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,875 shares of the real estate investment trust's stock after selling 18,100 shares during the period. Hunter Perkins Capital Management LLC's holdings in Independence Realty Trust were worth $486,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in Independence Realty Trust by 17.9% in the fourth quarter. Wellington Management Group LLP now owns 13,398,947 shares of the real estate investment trust's stock worth $265,835,000 after acquiring an additional 2,037,968 shares in the last quarter. Bamco Inc. NY raised its position in shares of Independence Realty Trust by 592.0% in the 4th quarter. Bamco Inc. NY now owns 1,711,746 shares of the real estate investment trust's stock valued at $33,961,000 after purchasing an additional 1,464,400 shares during the last quarter. Deutsche Bank AG boosted its stake in Independence Realty Trust by 72.5% in the 4th quarter. Deutsche Bank AG now owns 3,381,684 shares of the real estate investment trust's stock worth $67,093,000 after purchasing an additional 1,421,377 shares in the last quarter. Millennium Management LLC grew its position in Independence Realty Trust by 2,601.9% during the 4th quarter. Millennium Management LLC now owns 837,787 shares of the real estate investment trust's stock worth $16,622,000 after purchasing an additional 806,780 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Independence Realty Trust by 28.8% during the 4th quarter. Northern Trust Corp now owns 3,551,247 shares of the real estate investment trust's stock valued at $70,457,000 after purchasing an additional 793,403 shares in the last quarter. Institutional investors own 88.25% of the company's stock.

Insider Activity at Independence Realty Trust

In other Independence Realty Trust news, 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 completion of the transaction, the chief executive officer now 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 this link. Insiders sold a total of 11,500 shares of company stock worth $241,445 in the last three months. Company insiders own 0.62% of the company's stock.

Independence Realty Trust Trading Up 0.9%

Shares of NYSE IRT traded up $0.16 during trading on Monday, reaching $17.73. 3,339,997 shares of the company traded hands, compared to its average volume of 1,999,413. Independence Realty Trust, Inc. has a 12-month low of $7.72 and a 12-month high of $22.26. The stock has a market cap of $4.15 billion, a P/E ratio of 126.64, a PEG ratio of 2.48 and a beta of 0.96. The firm's fifty day simple moving average is $18.65 and its 200 day simple moving average is $19.51.

Independence Realty Trust (NYSE:IRT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). Independence Realty Trust had a net margin of 4.70% and a return on equity of 0.85%. The company had revenue of $160.91 million for the quarter, compared to analysts' expectations of $164.08 million. During the same quarter in the prior year, the business posted $0.27 earnings per share. The firm's revenue was up .4% compared to the same quarter last year. As a group, research analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.84%. This is a positive change from Independence Realty Trust's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, June 27th. Independence Realty Trust's payout ratio is 485.71%.

Analyst Ratings Changes

Several equities research analysts have recently commented on IRT shares. JMP Securities reiterated a "market outperform" rating and set a $25.00 price objective on shares of Independence Realty Trust in a research note on Monday, May 5th. Barclays lifted their price target on Independence Realty Trust from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Wells Fargo & Company assumed coverage on Independence Realty Trust in a report on Wednesday, March 19th. They issued an "overweight" rating and a $24.00 price objective on the stock. Compass Point restated a "neutral" rating and issued a $22.00 price objective on shares of Independence Realty Trust in a research note on Tuesday, May 13th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.70.

Independence Realty Trust 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.