Independence Realty Trust (IRT) Scheduled to Post Quarterly Earnings on Wednesday

Independence Realty Trust (NYSE:IRTGet Free Report) will issue its quarterly earnings data after the market closes on Wednesday, February 14th. Analysts expect the company to announce earnings of $0.30 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Independence Realty Trust Price Performance

Shares of IRT stock opened at $14.80 on Tuesday. Independence Realty Trust has a 1 year low of $11.61 and a 1 year high of $19.53. The firm has a fifty day moving average price of $15.08 and a 200-day moving average price of $14.82. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 56.92 and a beta of 1.07.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Friday, December 29th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Thursday, December 28th. Independence Realty Trust’s payout ratio is 246.15%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JMP Securities lowered their target price on shares of Independence Realty Trust from $20.00 to $15.00 and set a “market outperform” rating on the stock in a research note on Wednesday, November 1st. Royal Bank of Canada lowered their target price on shares of Independence Realty Trust from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Independence Realty Trust in a research note on Tuesday, January 30th. They set a “buy” rating and a $18.00 target price on the stock. Finally, BMO Capital Markets restated an “underperform” rating and set a $15.00 target price (up previously from $14.00) on shares of Independence Realty Trust in a research note on Friday, December 15th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.83.

Read Our Latest Stock Analysis on Independence Realty Trust

Institutional Trading of Independence Realty Trust

Hedge funds have recently bought and sold shares of the stock. Sentinus LLC raised its position in shares of Independence Realty Trust by 3.8% during the 1st quarter. Sentinus LLC now owns 18,304 shares of the real estate investment trust’s stock valued at $293,000 after buying an additional 678 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Independence Realty Trust by 1.1% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 63,209 shares of the real estate investment trust’s stock valued at $1,066,000 after buying an additional 679 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of Independence Realty Trust by 1.3% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 65,231 shares of the real estate investment trust’s stock valued at $1,106,000 after buying an additional 821 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Independence Realty Trust by 1.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 88,681 shares of the real estate investment trust’s stock valued at $1,838,000 after buying an additional 1,122 shares in the last quarter. Finally, Harbour Investments Inc. raised its position in shares of Independence Realty Trust by 2.6% during the 1st quarter. Harbour Investments Inc. now owns 49,111 shares of the real estate investment trust’s stock valued at $787,000 after buying an additional 1,224 shares in the last quarter. Hedge funds and other institutional investors own 85.45% of the company’s stock.

Independence Realty Trust Company Profile

(Get Free Report)

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.

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Earnings History for Independence Realty Trust (NYSE:IRT)

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