Blue Zone Wealth Advisors LLC Increases Position in Independence Realty Trust, Inc. $IRT

Blue Zone Wealth Advisors LLC raised its position in Independence Realty Trust, Inc. (NYSE:IRT) by 5.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 280,901 shares of the real estate investment trust’s stock after buying an additional 14,253 shares during the period. Blue Zone Wealth Advisors LLC owned about 0.12% of Independence Realty Trust worth $4,969,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group boosted its holdings in Independence Realty Trust by 131.4% in the 1st quarter. Brooklyn Investment Group now owns 1,254 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 712 shares during the last quarter. UMB Bank n.a. boosted its holdings in Independence Realty Trust by 189.5% in the 2nd quarter. UMB Bank n.a. now owns 2,883 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 1,887 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Independence Realty Trust in the 1st quarter worth about $53,000. GKV Capital Management Co. Inc. acquired a new stake in Independence Realty Trust in the 1st quarter worth about $57,000. Finally, Wealthquest Corp acquired a new stake in Independence Realty Trust in the 1st quarter worth about $85,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Independence Realty Trust Stock Performance

IRT opened at $16.14 on Friday. Independence Realty Trust, Inc. has a one year low of $15.87 and a one year high of $22.26. The stock has a market capitalization of $3.77 billion, a PE ratio of 134.50, a P/E/G ratio of 2.23 and a beta of 0.95. The business’s 50 day moving average price is $17.14 and its 200 day moving average price is $18.03.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.28 EPS for the quarter, meeting analysts’ consensus estimates of $0.28. Independence Realty Trust had a return on equity of 0.78% and a net margin of 4.31%.The firm had revenue of $161.89 million for the quarter, compared to analysts’ expectations of $164.78 million. During the same period in the prior year, the firm posted $0.28 earnings per share. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. As a group, 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 company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Tuesday, September 30th. Independence Realty Trust’s dividend payout ratio is 566.67%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on IRT shares. Wall Street Zen upgraded Independence Realty Trust from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Independence Realty Trust in a report on Wednesday. Barclays lowered their target price on Independence Realty Trust from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 12th. UBS Group lowered their target price on Independence Realty Trust from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, July 15th. Finally, Compass Point upgraded Independence Realty Trust from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $22.00 to $24.00 in a report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.14.

About Independence Realty Trust

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.