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

CANADA LIFE ASSURANCE Co boosted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 9.7% in the fourth quarter, Holdings Channel reports. The firm owned 429,530 shares of the real estate investment trust’s stock after purchasing an additional 38,147 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Independence Realty Trust were worth $8,511,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in shares of Independence Realty Trust by 17.9% during the 4th quarter. Wellington Management Group LLP now owns 13,398,947 shares of the real estate investment trust’s stock worth $265,835,000 after buying an additional 2,037,968 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Independence Realty Trust by 38.0% during the third quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust’s stock valued at $51,150,000 after acquiring an additional 686,630 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Independence Realty Trust in the 4th quarter valued at $12,105,000. Aew Capital Management L P grew its holdings in shares of Independence Realty Trust by 23.1% in the 4th quarter. Aew Capital Management L P now owns 2,316,915 shares of the real estate investment trust’s stock worth $45,968,000 after purchasing an additional 434,290 shares during the last quarter. Finally, Grove Bank & Trust acquired a new stake in shares of Independence Realty Trust during the 4th quarter worth about $7,636,000. 88.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Independence Realty Trust

In other news, CEO Scott Schaeffer sold 10,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $21.21, for a total value of $212,100.00. Following the transaction, the chief executive officer now owns 873,365 shares of the company’s stock, valued at $18,524,071.65. This represents a 1.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.58% of the company’s stock.

Independence Realty Trust Stock Performance

NYSE IRT opened at $18.94 on Tuesday. The stock has a market capitalization of $4.38 billion, a P/E ratio of 105.22, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98. Independence Realty Trust, Inc. has a 52 week low of $15.27 and a 52 week high of $22.26. The stock has a fifty day moving average of $20.29 and a 200-day moving average of $20.14.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, topping 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%. Equities research analysts forecast that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Friday, March 28th were issued a $0.16 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.64 annualized dividend and a yield of 3.38%. Independence Realty Trust’s dividend payout ratio is currently 355.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IRT shares. UBS Group began coverage on shares of Independence Realty Trust in a research report on Monday, April 7th. They issued a “buy” rating and a $24.00 price target on the stock. JMP Securities reissued a “market outperform” rating and issued a $22.00 target price on shares of Independence Realty Trust in a report on Tuesday, February 11th. Wells Fargo & Company assumed coverage on Independence Realty Trust in a report on Wednesday, March 19th. They set an “overweight” rating and a $24.00 price target for the company. Jefferies Financial Group raised Independence Realty Trust from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $24.00 in a research note on Monday, March 10th. Finally, Barclays raised their target price on Independence Realty Trust from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.