BlackRock Fund Advisors has recently announced that it has increased stake in Independence Realty Trust Inc (NYSE:IRT) by 0.12%. After grabbing 28.2 million shares, the institutional investor is now in possession of 34280.0 shares of the Real Estate Company. The new investment brought the stake of investor firm to 12.55% having worth around $431.45 million. Moreover, SSgA Funds Management, Inc. increased its share by 14166.0 to have a control over 13.71 million shares. And Long Pond Capital LP raised its holdings to 4.81 million shares by acquiring 8.95 million shares or 3.98% of the stake.
Independence Realty Trust Inc (IRT) concluded trading on Wednesday at a closing price of $15.23, with 3.83 million shares of worth about $58.36 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -10.99% during that period and On Wednesday, January 24 the price saw a loss of about -1.93%. Currently the company’s common shares owned by public are about 224.06M shares, out of which, 223.04M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 41 times over the past 12 months. They bought 430,521 shares in 23 of the transactions. In 18 selling transactions, insiders dumped 95,798 shares.
Vanguard Real Estate Index Fund, Vanguard Total Stock Market ETF, and iShares Core S&P Mid Cap ETF are the top 3 mutual funds which are holding stakes in Independence Realty Trust Inc Vanguard Real Estate Index Fund is currently holding 9.05 million shares of worth totaling $138.42 million. The company recently came selling 59655.0 shares which brought its stake up to 4.03% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 9004.0 shares, after which its hold over company’s outstanding shares expand to 3.15%, leaving 7.07 million shares with the mutual fund that have a worth of about $108.17 million. iShares Core S&P Mid Cap ETF, after buying 6.83 million shares, have now control over 3.04% of the stake in the company. It holds 6175.0 shares of worth $104.46 million.
However, the stock later moved at a day high price of 15.78, or with a loss of -1.93%. Stock saw a price change of 2.28% in past 5 days and over the past one month there was a price change of 0.53%. Year-to-date (YTD), IRT shares are showing a performance of -0.46% which decreased to -15.62% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $11.61 but also hit the highest price of $19.68 during that period. The average intraday trading volume for Independence Realty Trust Inc shares is 2.49 million. The stock is currently trading -0.09% below its 20-day simple moving average (SMA20), while that difference is up 4.80% for SMA50 and it goes to -3.30% lower than SMA200.
BlackRock Fund Advisors acquired 28.2 million shares of Independence Realty Trust Inc having value of about $431.45 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 34280.0 shares in the company valued at close to $522084.4, or have control over 0.12% stake in the company. Independence Realty Trust Inc (NYSE: IRT) currently have 224.06M outstanding shares and institutions hold larger chunk of about 86.25% of that. Holding of mutual funds in the company is about 35.39% while other institutional holders and individual stake holders have control over 51.32% and 3.32% of the stake respectively.
The stock has a current market capitalization of $3.42B and its 3Y-monthly beta is at 1.04. PE ratio of stock for trailing 12 months is 60.20, while it has posted earnings per share of $0.25 in the same period. It has a debt-to-equity ratio of 0.76. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for IRT, volatility over the week remained 3.20% while standing at 2.37% over the month.
Analysts are in expectations that Independence Realty Trust Inc (IRT) stock would likely to be making an EPS of -$0.02 in the current quarter, while forecast for next quarter EPS is $0.07 and it is $0.32 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.15 which is $0.08 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.15 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -107.55% while it is estimated to increase by 890.00% in next year. EPS is likely to shrink at an annualized rate of -6.06% for next 5-years, compared to annual growth of 5.09% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BMO Capital Markets on December 15, 2023 offering an Underperform rating for the stock and assigned a target price range of between $14 and $15 to it.
