Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by Vident Advisory LLC

Vident Advisory LLC cut its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 39.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,120 shares of the real estate investment trust's stock after selling 47,311 shares during the period. Vident Advisory LLC's holdings in Independence Realty Trust were worth $1,451,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC grew its position in Independence Realty Trust by 66.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 521 shares during the period. SRS Capital Advisors Inc. increased its position in shares of Independence Realty Trust by 627.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust's stock worth $46,000 after acquiring an additional 2,008 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Independence Realty Trust by 67.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust's stock worth $49,000 after acquiring an additional 1,000 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Independence Realty Trust by 33.9% in the 4th quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust's stock valued at $56,000 after acquiring an additional 692 shares during the period. Finally, Venturi Wealth Management LLC acquired a new position in shares of Independence Realty Trust during the 4th quarter valued at $70,000. 88.25% of the stock is owned by hedge funds and other institutional investors.

Independence Realty Trust Price Performance

IRT traded up $0.32 during trading on Tuesday, hitting $18.31. The company had a trading volume of 755,051 shares, compared to its average volume of 1,929,240. Independence Realty Trust, Inc. has a 1-year low of $15.65 and a 1-year high of $22.26. The company has a market cap of $4.28 billion, a PE ratio of 101.69, a P/E/G ratio of 2.91 and a beta of 0.98. The business has a 50-day moving average of $19.40 and a 200-day moving average of $20.05.

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

Independence Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Friday, June 27th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.71%. This is an increase 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%.

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 $18,524,071.65. The trade was a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last ninety days, insiders have sold 11,000 shares of company stock valued at $232,245. Corporate insiders own 0.58% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on IRT shares. JMP Securities reissued 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. Wells Fargo & Company initiated coverage on Independence Realty Trust in a research report on Wednesday, March 19th. They set an "overweight" rating and a $24.00 price target on the stock. Jefferies Financial Group raised shares of Independence Realty Trust from a "hold" rating to a "buy" rating and increased their price objective for the company from $20.00 to $24.00 in a research report on Monday, March 10th. 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 note on Friday, May 9th. Finally, Compass Point restated a "neutral" rating and issued a $22.00 target price on shares of Independence Realty Trust in a research note on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Independence Realty Trust 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.