Independence Realty Trust, Inc. $IRT Shares Bought by Blue Zone Wealth Advisors LLC

Blue Zone Wealth Advisors LLC grew its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 5.3% during the second quarter, Holdings Channel reports. The firm owned 280,901 shares of the real estate investment trust’s stock after acquiring an additional 14,253 shares during the quarter. Blue Zone Wealth Advisors LLC’s holdings in Independence Realty Trust were worth $4,969,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in IRT. Wealth Enhancement Advisory Services LLC lifted its stake in Independence Realty Trust by 2.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,292 shares of the real estate investment trust’s stock worth $442,000 after purchasing an additional 488 shares in the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC purchased a new stake in shares of Independence Realty Trust during the first quarter worth $278,000. Kingswood Wealth Advisors LLC increased its position in shares of Independence Realty Trust by 34.9% during the first quarter. Kingswood Wealth Advisors LLC now owns 37,035 shares of the real estate investment trust’s stock worth $791,000 after acquiring an additional 9,581 shares during the period. State of Alaska Department of Revenue increased its position in shares of Independence Realty Trust by 2.1% during the first quarter. State of Alaska Department of Revenue now owns 136,579 shares of the real estate investment trust’s stock worth $2,898,000 after acquiring an additional 2,748 shares during the period. Finally, Retirement Systems of Alabama increased its position in shares of Independence Realty Trust by 2.7% during the first quarter. Retirement Systems of Alabama now owns 280,506 shares of the real estate investment trust’s stock worth $5,955,000 after acquiring an additional 7,258 shares during the period. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IRT has been the topic of a number of recent research reports. Barclays cut their price objective on Independence Realty Trust from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 12th. UBS Group cut their price objective on Independence Realty Trust from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, July 15th. Compass Point raised Independence Realty Trust from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $22.00 to $24.00 in a research report on Thursday, July 31st. Wall Street Zen raised Independence Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Wells Fargo & Company dropped their target price on Independence Realty Trust from $24.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, August 27th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.14.

Independence Realty Trust Price Performance

NYSE:IRT opened at $16.14 on Friday. The firm has a market capitalization of $3.77 billion, a PE ratio of 134.50, a price-to-earnings-growth ratio of 2.23 and a beta of 0.95. The business’s fifty day moving average price is $17.14 and its 200 day moving average price is $18.03. Independence Realty Trust, Inc. has a 12 month low of $15.87 and a 12 month high of $22.26.

Independence Realty Trust (NYSE:IRT) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28. The firm had revenue of $161.89 million for the quarter, compared to analyst estimates of $164.78 million. Independence Realty Trust had a return on equity of 0.78% and a net margin of 4.31%.During the same quarter in the prior year, the company 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 analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 4.2%. Independence Realty Trust’s dividend payout ratio (DPR) is presently 566.67%.

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.