Independence Realty Trust, Inc. (IRT) To Go Ex-Dividend on September 30th

Independence Realty Trust, Inc. (NYSE:IRT) declared a quarterly dividend on Tuesday, September 8th. Shareholders of record on Wednesday, September 30th will be paid a dividend of 0.18 per share by the real estate investment trust on Friday, October 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Wednesday, September 30th.

Independence Realty Trust has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 3 years. Independence Realty Trust has a dividend payout ratio of 248.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Independence Realty Trust to earn $1.17 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 61.5%.

Independence Realty Trust Stock Down 4.4%

Shares of NYSE IRT opened at $15.21 on Thursday. Independence Realty Trust has a 52-week low of $14.60 and a 52-week high of $17.94. The stock has a market capitalization of $3.58 billion, a P/E ratio of 84.48 and a beta of 0.93. The stock’s 50 day moving average price is $16.64 and its two-hundred day moving average price is $16.30.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.26). Independence Realty Trust had a net margin of 6.52% and a return on equity of 1.22%. The business had revenue of $167.24 million for the quarter, compared to analyst estimates of $166.93 million. During the same period in the previous year, the firm posted $0.28 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. On average, analysts anticipate that Independence Realty Trust will post 1.14 EPS for the current year.

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.