Hart Capital Management Inc., of Spokane, says the composite value of the 10 publicly traded Inland Northwest companies increased to $11.1 billion in the second quarter of 2017, an increase of $248 million, or 2 percent, from the previous quarter.

In the first quarter this year, the composite value of the publicly traded companies dipped slightly to $10.8 billion from $10.9 billion, a decrease of $79 million, or 1 percent from the previous quarter.

The second-quarter gain is the sixth increase in the last seven quarters. The first-quarter decline snapped a streak of five straight quarters in which the composite increased from the previous quarter.

Hart Capital tracks the performance of publicly traded companies in the region with its composite and its Inland Northwest Index, which tracts companies in a methodology similar to the S&P 500.

During the second quarter, Hart Capital says, seven of the 10 tracked companies experienced an increase in market capitalization, which compares with five of the 10 having quarter-to-quarter market cap increases in the first quarter of this year.

Liberty Lake-based Itron Inc. led the second-quarter rally with a $292 million, or 13 percent, increase in market capitalization. Avista Corp., based in Spokane, saw a $223 million market cap jump, and WTB Financial Corp., the Spokane-based parent of Washington Trust Bank, saw a $27 million rise in market cap.

Itron led the separate quarterly Inland Northwest Index with a 12 percent increase in stock price over the first quarter, Hart Capital says.

“The company’s robust performance was mainly attributed to a strong first-quarter earnings report where the company reported a beat on both revenue and earnings,” it says in a press release.

Itron also reported solid backlog growth for the third consecutive quarter and increasing business activity in North America, Hart Capital says.

In previous years, Hart Capital’s analysis has included more companies. Three public companies fell off the 2015 list after Ambassadors Group Inc. discontinued operations, Mines Management was acquired, and Northwest Bancorp. began trading on an over-the-counter bulletin board.

Other companies that have fallen off the list in recent years include Coeur Mining Inc., which moved its headquarters to Chicago; Sandpoint-based Coldwater Creek Inc., which shut down its operations after filing for Chapter 11 bankruptcy protection; and Sterling Financial Corp. and Revett Minerals Inc., which both were subjects of acquisitions.

The list will continue to dwindle next year with the removal of Avista, the longtime Spokane-based utility once known as Washington Water Power Co. In July, the company announced that Toronto-based Hydro One will acquire it in a transaction valued at $5.3 billion U.S., or $6.7 billion Canadian.

The transaction has been approved by the boards of the companies and is scheduled to be completed in the second half of 2018.

Avista will maintain its corporate headquarters in Spokane and will continue to operate as a standalone utility serving Washington, Idaho, and Oregon, the company says.