Independence Realty Trust Inc (IRT) Director Richard H. Ross Sells 6,000 Shares

Share on StockTwits

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 institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Independence Realty Trust in the 3rd quarter valued at about $16,766,000. Vision Capital Corp acquired a new stake in shares of Independence Realty Trust in the fourth quarter valued at approximately $9,504,000. BlackRock Inc. raised its position in shares of Independence Realty Trust by 6.8% in the third quarter. BlackRock Inc. now owns 15,592,744 shares of the real estate investment trust’s stock valued at $164,192,000 after buying an additional 996,693 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Independence Realty Trust by 45.2% in the third quarter. Renaissance Technologies LLC now owns 2,737,300 shares of the real estate investment trust’s stock valued at $28,824,000 after buying an additional 852,300 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Independence Realty Trust by 221.3% in the third quarter. Wells Fargo & Company MN now owns 775,233 shares of the real estate investment trust’s stock valued at $8,164,000 after buying an additional 533,989 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

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.

TRADEMARK VIOLATION WARNING: This piece of content was originally reported by Week Herald and is the sole property of of Week Herald. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of international trademark & copyright laws. The original version of this piece of content can be accessed at https://weekherald.com/2019/03/14/independence-realty-trust-inc-irt-director-richard-h-ross-sells-6000-shares.html.

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.

Featured Story: Price-Sales Ratio

Receive News & Ratings for Independence Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independence Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply