Independence Realty Trust, Inc. (IRT) to Issue Quarterly Dividend of $0.18 on July 17th

Independence Realty Trust, Inc. (NYSE:IRT) declared a quarterly dividend on Wednesday, May 13th. Stockholders of record on Friday, June 26th will be given a dividend of 0.18 per share by the real estate investment trust on Friday, July 17th. This represents a c) annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, June 26th. This is a 5.9% increase from Independence Realty Trust’s previous quarterly dividend of $0.17.

Independence Realty Trust has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Independence Realty Trust has a dividend payout ratio of 234.5% 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 $1.20 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 56.7%.

Independence Realty Trust Trading Down 0.3%

Independence Realty Trust stock opened at $16.24 on Friday. Independence Realty Trust has a 12 month low of $14.60 and a 12 month high of $19.61. The stock’s 50 day moving average is $15.77 and its 200-day moving average is $16.42. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 81.18, a PEG ratio of 1.82 and a beta of 0.98.

Independence Realty Trust (NYSE:IRT) last posted its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 EPS for the quarter, beating the consensus estimate of $0.03 by $0.23. Independence Realty Trust had a return on equity of 1.35% and a net margin of 7.27%.The company had revenue of $165.32 million for the quarter, compared to the consensus estimate of $166.35 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. As a group, equities research analysts predict that Independence Realty Trust will post 1.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on IRT shares. Zacks Research upgraded Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Wells Fargo & Company cut their price target on Independence Realty Trust from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Wall Street Zen cut Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Barclays boosted their price target on Independence Realty Trust from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Weiss Ratings cut Independence Realty Trust from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $19.94.

Independence Realty Trust Company Profile

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.