39,900 Shares in Independence Realty Trust, Inc. (NYSE:IRT) Bought by Natixis

Natixis purchased a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 39,900 shares of the real estate investment trust's stock, valued at approximately $792,000.

A number of other institutional investors also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co grew its stake in Independence Realty Trust by 9.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 429,530 shares of the real estate investment trust's stock valued at $8,511,000 after buying an additional 38,147 shares during the last quarter. Farringdon Capital Ltd. acquired a new stake in shares of Independence Realty Trust in the fourth quarter valued at about $270,000. Marshall Wace LLP increased its stake in shares of Independence Realty Trust by 38.0% in the fourth quarter. Marshall Wace LLP now owns 672,188 shares of the real estate investment trust's stock worth $13,336,000 after purchasing an additional 184,931 shares during the period. Walleye Capital LLC acquired a new position in shares of Independence Realty Trust during the 4th quarter worth about $251,000. Finally, LaSalle St. Investment Advisors LLC bought a new stake in Independence Realty Trust during the 4th quarter valued at approximately $223,000. Institutional investors own 88.25% of the company's stock.

Insider Buying and Selling

In related news, CEO Scott Schaeffer sold 10,000 shares of the business'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 completion of the transaction, the chief executive officer now owns 873,365 shares in the company, valued at approximately $18,524,071.65. The trade was a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.58% of the company's stock.

Independence Realty Trust Stock Performance

NYSE IRT traded down $0.12 during trading on Tuesday, reaching $19.44. 394,644 shares of the company traded hands, compared to its average volume of 2,093,497. Independence Realty Trust, Inc. has a 1-year low of $15.65 and a 1-year high of $22.26. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 107.86, a P/E/G ratio of 2.91 and a beta of 0.98. The stock's 50 day moving average price is $20.18 and its two-hundred day moving average price is $20.15.

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

Independence Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Friday, March 28th were given a $0.16 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a yield of 3.29%. Independence Realty Trust's payout ratio is 355.56%.

Wall Street Analysts Forecast Growth

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

Independence Realty Trust 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.