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

Independence Realty Trust, Inc. (NYSE:IRT) announced a quarterly dividend on Monday, September 8th, Wall Street Journal reports. Shareholders of record on Tuesday, September 30th will be paid a dividend of 0.17 per share by the real estate investment trust on Friday, October 24th. This represents a c) dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Tuesday, September 30th.

Independence Realty Trust has a dividend payout ratio of 220.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Independence Realty Trust to earn $1.27 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 50.4%.

Independence Realty Trust Stock Performance

Shares of NYSE IRT opened at $16.53 on Friday. The business’s 50 day moving average price is $17.34 and its 200-day moving average price is $18.32. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 137.71, a PEG ratio of 2.28 and a beta of 0.96. Independence Realty Trust has a fifty-two week low of $16.43 and a fifty-two week high of $22.26.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.28. Independence Realty Trust had a return on equity of 0.78% and a net margin of 4.31%.The firm had revenue of $161.89 million during the quarter, compared to analysts’ expectations of $164.78 million. During the same quarter last year, the firm earned $0.28 EPS. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. Sell-side analysts predict that Independence Realty Trust will post 1.19 earnings per share for the current year.

Hedge Funds Weigh In On Independence Realty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRT. Brooklyn Investment Group grew its holdings in shares of Independence Realty Trust by 131.4% during the 1st quarter. Brooklyn Investment Group now owns 1,254 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 712 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Independence Realty Trust by 551.2% during the second quarter. Hantz Financial Services Inc. now owns 1,869 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 1,582 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Independence Realty Trust during the first quarter valued at approximately $53,000. GKV Capital Management Co. Inc. bought a new stake in shares of Independence Realty Trust during the first quarter valued at approximately $57,000. Finally, UMB Bank n.a. raised its holdings in shares of Independence Realty Trust by 189.5% during the second quarter. UMB Bank n.a. now owns 2,883 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 1,887 shares during the period. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

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.