Independence Realty Trust (IRT) to Release Quarterly Earnings on Wednesday

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

Independence Realty Trust Stock Performance

IRT stock opened at $14.80 on Tuesday. Independence Realty Trust has a one year low of $11.61 and a one year high of $19.53. The stock has a market capitalization of $3.33 billion, a PE ratio of 56.92 and a beta of 1.07. The company has a fifty day moving average of $15.08 and a 200-day moving average of $14.82.

Independence Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Friday, December 29th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Thursday, December 28th. Independence Realty Trust’s dividend payout ratio (DPR) is presently 246.15%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IRT. BMO Capital Markets restated an “underperform” rating and issued a $15.00 target price (up previously from $14.00) on shares of Independence Realty Trust in a research note on Friday, December 15th. JMP Securities reduced their target price on shares of Independence Realty Trust from $20.00 to $15.00 and set a “market outperform” rating for the company in a research note on Wednesday, November 1st. Royal Bank of Canada cut their price target on shares of Independence Realty Trust from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, November 1st. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Independence Realty Trust in a report on Tuesday, January 30th. They issued a “buy” rating and a $18.00 price target for the company. Two research 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. According to data from MarketBeat, Independence Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $17.83.

Check Out Our Latest Analysis on IRT

Hedge Funds Weigh In On Independence Realty Trust

A number of large investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd increased its holdings in Independence Realty Trust by 38.2% during the 1st quarter. Point72 Hong Kong Ltd now owns 9,085 shares of the real estate investment trust’s stock valued at $240,000 after acquiring an additional 2,509 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in shares of Independence Realty Trust during the first quarter worth about $232,000. Ethic Inc. acquired a new position in shares of Independence Realty Trust in the first quarter valued at approximately $217,000. MML Investors Services LLC raised its position in shares of Independence Realty Trust by 14.1% in the first quarter. MML Investors Services LLC now owns 13,300 shares of the real estate investment trust’s stock valued at $213,000 after buying an additional 1,641 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Independence Realty Trust by 87.7% during the second quarter. Tower Research Capital LLC TRC now owns 11,271 shares of the real estate investment trust’s stock valued at $205,000 after buying an additional 5,266 shares during the period. 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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