CANADA LIFE ASSURANCE Co Has $8.51 Million Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

CANADA LIFE ASSURANCE Co lifted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 9.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 429,530 shares of the real estate investment trust's stock after buying an additional 38,147 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.19% of Independence Realty Trust worth $8,511,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stifel Financial Corp acquired a new position in Independence Realty Trust during the 3rd quarter worth $576,000. MML Investors Services LLC bought a new stake in shares of Independence Realty Trust during the third quarter valued at about $246,000. Barclays PLC lifted its holdings in Independence Realty Trust by 182.3% in the third quarter. Barclays PLC now owns 400,376 shares of the real estate investment trust's stock worth $8,208,000 after purchasing an additional 258,549 shares during the period. Virtu Financial LLC bought a new position in Independence Realty Trust in the 3rd quarter valued at about $267,000. Finally, Tidal Investments LLC increased its stake in Independence Realty Trust by 751.4% during the 3rd quarter. Tidal Investments LLC now owns 93,325 shares of the real estate investment trust's stock valued at $1,913,000 after buying an additional 82,364 shares during the period. 88.25% of the stock is owned by institutional investors.

Insider Transactions at Independence Realty Trust

In related news, CEO Scott Schaeffer sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $21.21, for a total transaction of $212,100.00. Following the transaction, the chief executive officer now owns 873,365 shares of the company's stock, valued at approximately $18,524,071.65. This trade represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IRT. Barclays increased their price objective on shares of Independence Realty Trust from $20.00 to $21.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. UBS Group started coverage on Independence Realty Trust in a research report on Monday, April 7th. They set a "buy" rating and a $24.00 price target on the stock. JMP Securities restated a "market outperform" rating and issued a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday, February 11th. Wells Fargo & Company started coverage on Independence Realty Trust in a report on Wednesday, March 19th. They set an "overweight" rating and a $24.00 target price on the stock. Finally, Jefferies Financial Group raised shares of Independence Realty Trust from a "hold" rating to a "buy" rating and upped their price target for the company from $20.00 to $24.00 in a report on Monday, March 10th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.33.

Independence Realty Trust Price Performance

NYSE IRT traded up $0.20 on Friday, hitting $19.61. 3,344,619 shares of the company were exchanged, compared to its average volume of 2,100,281. Independence Realty Trust, Inc. has a twelve month low of $15.65 and a twelve month high of $22.26. The company's 50 day moving average price is $20.20 and its 200-day moving average price is $20.15. The firm has a market capitalization of $4.53 billion, a P/E ratio of 108.94, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98.

Independence Realty Trust (NYSE:IRT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.24. Independence Realty Trust had a return on equity of 1.11% and a net margin of 6.15%. As a group, equities analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors 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 annualized dividend and a dividend yield of 3.26%. Independence Realty Trust's dividend payout ratio is 355.56%.

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.