B&I Capital AG Has $7.84 Million Stock Position in Independence Realty Trust, Inc. $IRT

B&I Capital AG boosted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 12.2% in the third quarter, HoldingsChannel reports. The fund owned 478,360 shares of the real estate investment trust’s stock after buying an additional 51,900 shares during the quarter. Independence Realty Trust accounts for 2.7% of B&I Capital AG’s portfolio, making the stock its 14th biggest holding. B&I Capital AG’s holdings in Independence Realty Trust were worth $7,840,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of IRT. First Horizon Corp acquired a new stake in shares of Independence Realty Trust during the third quarter worth approximately $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 worth $33,000 after buying an additional 1,582 shares in the last quarter. Financial Gravity Companies Inc. acquired a new stake in shares of Independence Realty Trust during the 2nd quarter valued at $54,000. Caldwell Trust Co purchased a new position in shares of Independence Realty Trust during the 2nd quarter valued at $61,000. Finally, Global Retirement Partners LLC increased its stake in shares of Independence Realty Trust by 30.8% in the third quarter. Global Retirement Partners LLC now owns 4,245 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Shares of IRT stock opened at $16.70 on Friday. Independence Realty Trust, Inc. has a 12 month low of $15.06 and a 12 month high of $21.86. The firm has a market cap of $3.99 billion, a PE ratio of 167.02, a price-to-earnings-growth ratio of 2.03 and a beta of 1.00. The stock has a 50 day moving average of $17.08 and a 200-day moving average of $16.94.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $167.14 million during the quarter, compared to analyst estimates of $168.31 million. Independence Realty Trust had a return on equity of 0.62% and a net margin of 3.42%.During the same quarter in the previous year, the business posted $0.29 EPS. As a group, equities analysts predict that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 23rd. Investors of record on Wednesday, December 31st were paid 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 brokerages have commented on IRT. Zacks Research downgraded Independence Realty Trust from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 22nd. UBS Group raised their price objective on shares of Independence Realty Trust from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Barclays boosted their price target on Independence Realty Trust from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft lowered Independence Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a report on Tuesday, January 20th. Finally, Citigroup restated an “outperform” rating on shares of Independence Realty Trust in a report on Friday, January 9th. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Independence Realty Trust currently has an average 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.