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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