Blue Zone Wealth Advisors LLC Boosts Position in Independence Realty Trust, Inc. (NYSE:IRT)

Blue Zone Wealth Advisors LLC lifted its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 3.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 224,183 shares of the real estate investment trust’s stock after acquiring an additional 7,756 shares during the period. Blue Zone Wealth Advisors LLC owned 0.10% of Independence Realty Trust worth $4,448,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Independence Realty Trust by 0.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,984 shares of the real estate investment trust’s stock valued at $2,050,000 after purchasing an additional 526 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Independence Realty Trust by 0.5% in the fourth quarter. State of Alaska Department of Revenue now owns 133,831 shares of the real estate investment trust’s stock valued at $2,654,000 after purchasing an additional 643 shares in the last quarter. Blue Trust Inc. boosted its holdings in Independence Realty Trust by 33.9% in the fourth quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 692 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in Independence Realty Trust by 20.5% in the fourth quarter. Sound Income Strategies LLC now owns 4,295 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 732 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Independence Realty Trust by 0.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 281,800 shares of the real estate investment trust’s stock valued at $5,777,000 after purchasing an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on IRT. BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and upped their price target for the company from $19.00 to $21.00 in a report on Friday, November 15th. Barclays lowered their price target on Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a research note on Tuesday, February 11th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.86.

Independence Realty Trust Price Performance

Independence Realty Trust stock opened at $20.53 on Friday. Independence Realty Trust, Inc. has a 12 month low of $14.35 and a 12 month high of $22.26. The business has a 50 day simple moving average of $19.75 and a 200-day simple moving average of $20.08. The stock has a market capitalization of $4.62 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 2.77 and a beta of 1.21.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate of $0.08 by $0.24. Independence Realty Trust had a negative return on equity of 0.01% and a negative net margin of 0.03%. As a group, equities research analysts anticipate that Independence Realty Trust, Inc. will post 1.15 EPS for the current year.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Tuesday, December 31st.

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.