Independence Realty Trust (IRT) Set to Announce Quarterly Earnings on Wednesday

Independence Realty Trust (NYSE:IRT) will release its earnings data after the market closes on Wednesday, October 30th. Analysts expect Independence Realty Trust to post earnings of $0.29 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Independence Realty Trust Stock Up 0.4 %

Shares of IRT stock opened at $19.53 on Wednesday. Independence Realty Trust has a 12 month low of $11.61 and a 12 month high of $21.20. The company’s fifty day simple moving average is $20.11 and its 200-day simple moving average is $18.47. The firm has a market cap of $4.39 billion, a PE ratio of -650.83, a P/E/G ratio of 2.79 and a beta of 1.17.

Independence Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were given a dividend of $0.16 per share. The ex-dividend date was Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 3.28%. Independence Realty Trust’s dividend payout ratio (DPR) is presently -2,133.33%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. BTIG Research boosted their price target on Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. KeyCorp increased their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, JMP Securities boosted their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.57.

About Independence Realty Trust

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.