Centiva Capital LP Sells 36,309 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Centiva Capital LP decreased its position in Independence Realty Trust, Inc. (NYSE:IRT) by 62.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 21,897 shares of the real estate investment trust’s stock after selling 36,309 shares during the quarter. Centiva Capital LP’s holdings in Independence Realty Trust were worth $434,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its stake 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 worth $26,000 after acquiring an additional 521 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in shares of 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 worth $46,000 after purchasing an additional 2,008 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of 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 worth $49,000 after buying an additional 1,000 shares during the last quarter. Blue Trust Inc. increased its position in Independence Realty Trust by 33.9% during the 4th quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 692 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in Independence Realty Trust during the fourth quarter valued at $70,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Scott Schaeffer sold 10,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 873,365 shares in the company, valued at $18,524,071.65. This represents a 1.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last ninety days, insiders have sold 11,000 shares of company stock worth $232,245. Company insiders own 0.58% of the company’s stock.

Independence Realty Trust Price Performance

IRT stock opened at $19.12 on Friday. Independence Realty Trust, Inc. has a 1 year low of $15.66 and a 1 year high of $22.26. The company has a market cap of $4.47 billion, a P/E ratio of 106.22, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98. The stock’s fifty day moving average price is $19.87 and its 200-day moving average price is $20.13.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $160.91 million during the quarter, compared to analysts’ expectations of $164.08 million. During the same period in the previous year, the business posted $0.27 earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. As a group, analysts expect that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Friday, March 28th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a yield of 3.35%. Independence Realty Trust’s dividend payout ratio is currently 457.14%.

Analyst Upgrades and Downgrades

IRT has been the subject of several analyst reports. Wells Fargo & Company began coverage on Independence Realty Trust in a report on Wednesday, March 19th. They set an “overweight” rating and a $24.00 price target for the company. UBS Group started coverage on shares of Independence Realty Trust in a report on Monday, April 7th. They issued a “buy” rating and a $24.00 target price for the company. JMP Securities reiterated a “market outperform” rating and set a $25.00 price target on shares of Independence Realty Trust in a report on Monday, May 5th. Jefferies Financial Group upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $24.00 in a report on Monday, March 10th. Finally, Barclays increased their target price on Independence Realty Trust from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.78.

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.