Domo signs strategic collaboration agreement with AWS for AI solutions
Scott Schaeffer, Chair of the Board and CEO of Independence Realty Trust, Inc. (NYSE:IRT), recently sold 10,000 shares of the company’s common stock. The real estate investment trust, currently valued at $5.1 billion, has shown impressive momentum with a 42.5% return over the past year. The transaction, which took place on April 1, 2025, was executed at a price of $21.21 per share, amounting to a total sale value of $212,100. Following this sale, Schaeffer retains ownership of 873,365 shares in the company. The stock currently trades near its 52-week high of $22.26 and offers a 3% dividend yield, having maintained dividend payments for 13 consecutive years. This transaction was conducted under a pre-established 10b5-1 trading plan, adopted on December 5, 2024. Based on InvestingPro analysis, the stock appears slightly overvalued at current levels. Discover more insights about insider trading patterns and 10+ additional ProTips with an InvestingPro subscription.
In other recent news, Independence Realty Trust reported strong fourth-quarter 2024 earnings, with earnings per share (EPS) reaching $0.17, significantly surpassing the forecast of $0.06. However, the company’s revenue was slightly below expectations, totaling $160.62 million against a projected $163.11 million. JMP Securities maintained a Market Outperform rating on Independence Realty Trust, raising the price target to $25 from $22, despite the company’s Core Funds from Operations (FFO) per share slightly missing their estimate but meeting consensus at $0.32. Jefferies also upgraded the company’s stock rating from Hold to Buy, increasing the price target from $20.00 to $24.00, citing strategic market exposure as a key factor.
Independence Realty Trust’s fourth-quarter performance highlighted a robust EPS, though revenue challenges were noted. The company’s strategic financial improvements, including debt reduction, were emphasized during their earnings call. Analyst Aaron Hecht from JMP Securities expressed optimism for the future, noting potential shifts in market dynamics that could favor landlords. The company’s 2025 guidance projects Core FFO per share between $1.16 and $1.19, with plans to acquire approximately $240 million in properties. These developments reflect a strategic focus on growth and market positioning, underscored by analyst upgrades and revised price targets.
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