Research Analysts Offer Predictions for Independence Realty Trust Inc’s Q1 2020 Earnings (IRT)

Research Analysts Offer Predictions for Independence Realty Trust Inc’s Q1 2020 Earnings (IRT)

Independence Realty Trust Inc (NYSE:IRT) – Stock analysts at William Blair boosted their Q1 2020 earnings estimates for Independence Realty Trust in a research note issued to investors on Monday, May 6th. William Blair analyst R. Napoli now expects that the real estate investment trust will earn $0.20 per share for the quarter, up from their prior estimate of $0.19. William Blair also issued estimates for Independence Realty Trust’s Q4 2020 earnings at $0.21 EPS and FY2021 earnings at $0.86 EPS.

IRT has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Independence Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. ValuEngine upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating in a report on Wednesday, January 16th. B. Riley downgraded shares of Independence Realty Trust from a “buy” rating to a “neutral” rating and set a $10.50 price objective on the stock. in a report on Wednesday, February 6th. Stifel Nicolaus started coverage on shares of Independence Realty Trust in a report on Monday, April 8th. They set a “hold” rating and a $11.00 price objective on the stock. Finally, TheStreet upgraded shares of Independence Realty Trust from a “c+” rating to a “b-” rating in a report on Thursday, February 21st. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.95.

Independence Realty Trust stock opened at $10.47 on Wednesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.37 and a current ratio of 0.48. Independence Realty Trust has a 12-month low of $8.75 and a 12-month high of $10.94. The firm has a market cap of $946.82 million, a P/E ratio of 14.15 and a beta of 0.89.

Independence Realty Trust (NYSE:IRT) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.15). Independence Realty Trust had a net margin of 13.05% and a return on equity of 4.05%. The company had revenue of $49.47 million for the quarter, compared to analyst estimates of $49.80 million.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Friday, March 29th were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.72 annualized dividend and a yield of 6.88%. Independence Realty Trust’s payout ratio is 97.30%.

In other Independence Realty Trust news, Director Richard H. Ross sold 6,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.33, for a total transaction of $61,980.00. Following the transaction, the director now owns 27,369 shares in the company, valued at $282,721.77. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.69% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ruggie Capital Group bought a new stake in shares of Independence Realty Trust in the 4th quarter worth $28,000. Sandy Spring Bank bought a new stake in shares of Independence Realty Trust in the 1st quarter worth $42,000. Bronfman E.L. Rothschild L.P. bought a new stake in shares of Independence Realty Trust in the 4th quarter worth $37,000. Bessemer Group Inc. bought a new stake in shares of Independence Realty Trust in the 4th quarter worth $42,000. Finally, Loeb Partners Corp bought a new stake in shares of Independence Realty Trust in the 4th quarter worth $46,000. Hedge funds and other institutional investors own 86.35% of the company’s stock.

Independence Realty Trust Company Profile

Independence Realty Trust (NYSE: IRT) is a real estate investment trust that currently owns and operates 58 multifamily apartment properties, totaling 15,880 units, across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers.

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