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

Independence Realty Trust (NYSE:IRT) is scheduled to post its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect Independence Realty Trust to post earnings of $0.28 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Independence Realty Trust Stock Up 1.3 %

IRT stock opened at $15.83 on Tuesday. Independence Realty Trust has a twelve month low of $11.61 and a twelve month high of $18.77. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of -226.11, a PEG ratio of 2.28 and a beta of 1.07. The business’s fifty day simple moving average is $15.60 and its two-hundred day simple moving average is $14.75.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, March 29th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend was Wednesday, March 27th. Independence Realty Trust’s dividend payout ratio is presently -914.16%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IRT. Barclays dropped their target price on shares of Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 20th. Royal Bank of Canada lifted their target price on Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. TheStreet downgraded Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. Deutsche Bank Aktiengesellschaft assumed coverage on Independence Realty Trust in a report on Tuesday, January 30th. They issued a “buy” rating and a $18.00 price objective for the company. Finally, JMP Securities increased their target price on shares of Independence Realty Trust from $15.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.00.

About Independence Realty Trust

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.