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Richard D. Gebert, a director at Independence Realty Trust, Inc. (NYSE:IRT), a $5.08 billion market cap REIT that has maintained dividend payments for 13 consecutive years according to InvestingPro, recently sold 500 shares of the company’s common stock. The transaction, which took place on April 1, 2025, was executed at a price of $21.28 per share, amounting to a total sale value of $10,640. Following this sale, Gebert retains ownership of 38,694 shares in the real estate investment trust. The sale occurred with the stock trading near its 52-week high of $22.26, amid a strong 42.52% return over the past year and currently offering a 3% dividend yield. This transaction was conducted under a pre-established 10b5-1 trading plan, which was adopted on December 5, 2024. For comprehensive insider trading analysis and 8 additional exclusive ProTips about IRT, visit InvestingPro.
In other recent news, Independence Realty Trust reported its fourth-quarter 2024 results, showcasing a strong earnings performance with earnings per share (EPS) of $0.17, significantly surpassing the forecasted $0.06. However, the company’s revenue fell slightly short, totaling $160.62 million compared to the expected $163.11 million. JMP Securities highlighted the company’s Core Funds from Operations (FFO) for the fourth quarter at $0.32 per share, matching consensus but slightly below their estimate of $0.33. Despite this, JMP Securities maintained a Market Outperform rating and raised the price target for Independence Realty Trust to $25, citing optimism about future lease rate growth.
Jefferies also expressed confidence in Independence Realty Trust by upgrading its stock rating from Hold to Buy, with a revised price target of $24.00. This decision was influenced by the company’s strategic market exposure and ability to mitigate the adverse effects of new supply in certain regions. Independence Realty Trust’s management emphasized a conservative approach in response to current market conditions during their earnings call, while also outlining plans to acquire approximately $240 million in properties in 2025. These developments indicate a strategic focus on enhancing financial performance and capitalizing on growth opportunities in the multifamily real estate sector.
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