Captrust Financial Advisors Sells 1,071 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Captrust Financial Advisors cut its position in Independence Realty Trust, Inc. (NYSE:IRT) by 7.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,879 shares of the real estate investment trust’s stock after selling 1,071 shares during the quarter. Captrust Financial Advisors’ holdings in Independence Realty Trust were worth $275,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IRT. Global Retirement Partners LLC boosted its stake in Independence Realty Trust by 66.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 521 shares during the period. SRS Capital Advisors Inc. boosted its stake in Independence Realty Trust by 627.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 2,008 shares during the period. Jones Financial Companies Lllp boosted its stake in Independence Realty Trust by 67.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 1,000 shares during the period. Blue Trust Inc. boosted its stake in 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 purchasing an additional 692 shares during the period. Finally, Venturi Wealth Management LLC bought a new stake in Independence Realty Trust in the 4th quarter valued at $70,000. 88.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Independence Realty Trust news, CEO Scott Schaeffer sold 10,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was 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. This represents a 1.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 11,000 shares of company stock valued at $232,245 in the last 90 days. Corporate insiders own 0.58% of the company’s stock.

Independence Realty Trust Stock Performance

Independence Realty Trust stock opened at $18.52 on Thursday. Independence Realty Trust, Inc. has a 52 week low of $15.66 and a 52 week high of $22.26. The stock has a market capitalization of $4.33 billion, a P/E ratio of 102.86, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98. The stock has a fifty day moving average of $19.57 and a 200-day moving average of $20.09.

Independence Realty Trust (NYSE:IRT) last posted its quarterly 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 return on equity of 1.11% and a net margin of 6.15%. The business had revenue of $160.91 million for the quarter, compared to analyst estimates of $164.08 million. During the same period last 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 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 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. This represents a $0.68 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Friday, June 27th. This is a boost from Independence Realty Trust’s previous quarterly dividend of $0.16. Independence Realty Trust’s dividend payout ratio is presently 485.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 price objective on shares of Independence Realty Trust in a report on Monday, May 5th. Jefferies Financial Group raised 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 report on Monday, March 10th. 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 for the company. UBS Group assumed coverage on Independence Realty Trust in a report on Monday, April 7th. They issued a “buy” rating and a $24.00 price objective for the company. Finally, Compass Point reaffirmed a “neutral” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.