Independence Realty Trust, Inc. $IRT Stake Boosted by B&I Capital AG

B&I Capital AG increased its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 12.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 478,360 shares of the real estate investment trust’s stock after purchasing an additional 51,900 shares during the period. Independence Realty Trust accounts for 2.7% of B&I Capital AG’s portfolio, making the stock its 14th largest position. B&I Capital AG owned approximately 0.20% of Independence Realty Trust worth $7,840,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Corp acquired a new position in shares of Independence Realty Trust during the third quarter valued at $27,000. Hantz Financial Services Inc. lifted its position in Independence Realty Trust by 551.2% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,869 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,582 shares during the last quarter. Financial Gravity Companies Inc. bought a new stake in Independence Realty Trust in the 2nd quarter valued at about $54,000. Caldwell Trust Co acquired a new position in Independence Realty Trust during the 2nd quarter valued at about $61,000. Finally, Global Retirement Partners LLC grew its position in Independence Realty Trust by 30.8% in the 3rd quarter. Global Retirement Partners LLC now owns 4,245 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 1,000 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Price Performance

NYSE:IRT opened at $16.70 on Friday. The business’s 50-day moving average price is $17.08 and its 200 day moving average price is $16.94. Independence Realty Trust, Inc. has a 52-week low of $15.06 and a 52-week high of $21.86. The firm has a market cap of $3.99 billion, a P/E ratio of 167.02, a PEG ratio of 2.03 and a beta of 1.00.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Independence Realty Trust had a net margin of 3.42% and a return on equity of 0.62%. The business had revenue of $167.14 million for the quarter, compared to the consensus estimate of $168.31 million. During the same quarter last year, the business posted $0.29 EPS. Sell-side 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 announced a quarterly dividend, which was paid on Friday, January 23rd. Shareholders of record on Wednesday, December 31st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Wednesday, December 31st. Independence Realty Trust’s dividend payout ratio (DPR) is presently 680.00%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IRT. Zacks Research cut Independence Realty Trust from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. KeyCorp reduced their price target on Independence Realty Trust from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, December 4th. Citigroup reissued an “outperform” rating on shares of Independence Realty Trust in a research note on Friday, January 9th. Weiss Ratings restated a “hold (c)” rating on shares of Independence Realty Trust in a research note on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Independence Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research report on Tuesday, January 20th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.35.

About Independence Realty Trust

Independence Realty Trust is a self-administered equity real estate investment trust that acquires, redevelops and manages multi-family communities. The company focuses on workforce housing, targeting Class A and B garden-style apartments in suburban and urban infill locations. Its core activities include sourcing value-add acquisitions, overseeing property renovations and delivering in-house property management services to optimize rental income and occupancy levels.

Headquartered in Wayne, Pennsylvania, Independence Realty Trust maintains a geographically diverse portfolio across several high-growth U.S.