Independence Realty Trust Inc (NYSE:IRT) Director Richard H. Ross sold 6,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.33, for a total value of $61,980.00. Following the completion of the sale, the director now directly owns 27,369 shares of the company’s stock, valued at approximately $282,721.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
IRT traded up $0.01 on Thursday, hitting $10.60. 22,408 shares of the stock traded hands, compared to its average volume of 574,113. Independence Realty Trust Inc has a 52 week low of $8.75 and a 52 week high of $10.76. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $945.16 million, a price-to-earnings ratio of 14.35 and a beta of 0.91.
Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings results on Thursday, February 21st. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.15). Independence Realty Trust had a net margin of 13.77% and a return on equity of 4.16%. The firm had revenue of $49.72 million for the quarter, compared to the consensus estimate of $48.81 million. Equities research analysts expect that Independence Realty Trust Inc will post 0.76 EPS for the current year.
A number of analysts have weighed in on the company. Zacks Investment Research cut Independence Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday, February 21st. B. Riley cut Independence Realty Trust from a “buy” rating to a “neutral” rating and set a $10.50 price objective for the company. in a research report on Wednesday, February 6th. ValuEngine raised Independence Realty Trust from a “hold” rating to a “buy” rating in a research report on Thursday, December 6th. TheStreet raised Independence Realty Trust from a “c+” rating to a “b-” rating in a research report on Thursday, February 21st. Finally, Boenning Scattergood reissued a “buy” rating on shares of Independence Realty Trust in a research report on Friday, February 22nd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.94.
Independence Realty Trust Company Profile
Independence Realty Trust (NYSE: IRT) is a real estate investment trust that currently owns and operates 59 multifamily apartment properties, totaling 16,120 units, across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers.
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