Independence Realty Trust (NYSE:IRT) Issues FY 2024 Earnings Guidance

Independence Realty Trust (NYSE:IRT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.120-1.160 for the period, compared to the consensus EPS estimate of 1.140. The company issued revenue guidance of -.

Independence Realty Trust Stock Up 1.3 %

Shares of NYSE IRT traded up $0.20 during trading hours on Friday, hitting $15.86. The company’s stock had a trading volume of 1,768,704 shares, compared to its average volume of 2,330,950. Independence Realty Trust has a 12 month low of $11.61 and a 12 month high of $18.77. The business has a 50-day simple moving average of $15.66 and a 200-day simple moving average of $14.78.

Independence Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, March 29th were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.64 annualized dividend and a yield of 4.04%. Independence Realty Trust’s dividend payout ratio (DPR) is presently -2,132.62%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Independence Realty Trust in a report on Tuesday, January 30th. They issued a buy rating and a $18.00 price objective for the company. TheStreet lowered shares of Independence Realty Trust from a c rating to a d+ rating in a report on Friday, March 1st. Royal Bank of Canada raised their price objective on shares of Independence Realty Trust from $16.00 to $17.00 and gave the stock an outperform rating in a report on Friday, February 16th. Barclays lowered their price objective on shares of Independence Realty Trust from $22.00 to $18.00 and set an overweight rating for the company in a report on Tuesday, February 20th. Finally, JMP Securities raised their price objective 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 equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $17.00.

Independence Realty Trust Company Profile

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.