INDUS Realty Trust, Inc. (NASDAQ:INDT) Short Interest Up 26.1% in April

INDUS Realty Trust, Inc. (NASDAQ:INDTGet Rating) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 125,200 shares, a growth of 26.1% from the March 31st total of 99,300 shares. Based on an average daily volume of 29,200 shares, the days-to-cover ratio is currently 4.3 days.

In related news, major shareholder Ccp Sbs Gp, Llc acquired 688 shares of the company’s stock in a transaction dated Wednesday, April 13th. The stock was purchased at an average price of $72.00 per share, with a total value of $49,536.00. Following the completion of the purchase, the insider now owns 695,363 shares in the company, valued at approximately $50,066,136. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders acquired 153,330 shares of company stock valued at $11,485,388 in the last quarter. Corporate insiders own 18.70% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Conversant Capital LLC purchased a new stake in shares of INDUS Realty Trust in the 4th quarter worth about $85,039,000. Centerbridge Partners L.P. bought a new position in shares of INDUS Realty Trust during the fourth quarter valued at approximately $79,334,000. Monarch Alternative Capital LP lifted its holdings in shares of INDUS Realty Trust by 0.8% during the third quarter. Monarch Alternative Capital LP now owns 653,100 shares of the company’s stock valued at $45,782,000 after purchasing an additional 5,087 shares during the last quarter. BlackRock Inc. boosted its position in shares of INDUS Realty Trust by 26.0% in the 4th quarter. BlackRock Inc. now owns 342,064 shares of the company’s stock worth $27,728,000 after purchasing an additional 70,616 shares in the last quarter. Finally, DigitalBridge Group Inc. grew its stake in shares of INDUS Realty Trust by 65.2% in the 3rd quarter. DigitalBridge Group Inc. now owns 255,102 shares of the company’s stock worth $17,883,000 after buying an additional 100,702 shares during the last quarter. Institutional investors and hedge funds own 66.78% of the company’s stock.

Separately, BTIG Research upped their target price on INDUS Realty Trust from $74.00 to $91.00 in a report on Tuesday, January 25th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, INDUS Realty Trust currently has a consensus rating of “Buy” and a consensus price target of $79.57.

INDT stock opened at $72.11 on Tuesday. INDUS Realty Trust has a fifty-two week low of $60.77 and a fifty-two week high of $82.94. The stock has a market cap of $734.51 million, a P/E ratio of 59.60 and a beta of 0.87. The stock’s 50 day moving average price is $73.77.

The company also recently declared a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Thursday, March 31st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.89%. INDUS Realty Trust’s dividend payout ratio is presently 52.89%.

INDUS Realty Trust Company Profile (Get Rating)

INDUS Realty Trust, Inc is a real estate business principally engaged in developing, acquiring, managing and leasing industrial/warehouse properties. INDUS owns 41 buildings totaling approximately 4.6 million square feet (4.2 million of which is industrial/warehouse space) in Connecticut, Pennsylvania, North Carolina and Florida in addition to over 3,400 acres of undeveloped land.

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