Potential Independence Realty Trust, Inc. (NYSE:IRT) shareholders may wish to note that the Chairman & CEO, Scott Schaeffer, recently bought US$235k worth of stock, paying US$9.39 for each share. Although the purchase only increased their holding by 6.8%, it is still a solid purchase in our view.
Independence Realty Trust Insider Transactions Over The Last Year
In fact, the recent purchase by Scott Schaeffer was the biggest purchase of Independence Realty Trust shares made by an insider individual in the last twelve months, according to our records. That means that an insider was happy to buy shares at above the current price of US$7.62. It’s very possible they regret the purchase, but it’s more likely they are bullish about the company. In our view, the price an insider pays for shares is very important. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
In the last twelve months insiders purchased 28.70k shares for US$269k. But insiders sold 4000 shares worth US$53k. In the last twelve months there was more buying than selling by Independence Realty Trust insiders. You can see the insider transactions (by individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Independence Realty Trust is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Insider Ownership of Independence Realty Trust
For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Our data indicates that Independence Realty Trust insiders own about US$7.6m worth of shares (which is 0.9% of the company). Whilst better than nothing, we’re not overly impressed by these holdings.
So What Do The Independence Realty Trust Insider Transactions Indicate?
The recent insider purchases are heartening. And an analysis of the transactions over the last year also gives us confidence. While the overall levels of insider ownership are below what we’d like to see, the history of transactions imply that Independence Realty Trust insiders are reasonably well aligned, and optimistic for the future. While we like knowing what’s going on with the insider’s ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Be aware that Independence Realty Trust is showing 5 warning signs in our investment analysis, and 1 of those is a bit concerning…
But note: Independence Realty Trust may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
If you spot an error that warrants correction, please contact the editor at email@example.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Thank you for reading.