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

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

Independence Realty Trust Trading Up 0.6 %

Shares of IRT traded up $0.09 during mid-day trading on Wednesday, reaching $15.76. The company’s stock had a trading volume of 3,402,355 shares, compared to its average volume of 2,307,998. The stock has a market cap of $3.55 billion, a PE ratio of -225.11, a P/E/G ratio of 2.31 and a beta of 1.07. Independence Realty Trust has a 52 week low of $11.61 and a 52 week high of $18.77. The company’s fifty day moving average price is $15.63 and its two-hundred day moving average price is $14.76.

Independence Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, March 29th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Wednesday, March 27th. Independence Realty Trust’s payout ratio is -914.16%.

Analysts Set New Price Targets

Several research analysts recently commented on IRT shares. JMP Securities lifted their target price on shares of Independence Realty Trust from $15.00 to $17.00 and gave the stock a market outperform rating in a research note on Wednesday, March 6th. TheStreet downgraded shares of Independence Realty Trust from a c rating to a d+ rating in a research note on Friday, March 1st. Royal Bank of Canada lifted their target price on shares of Independence Realty Trust from $16.00 to $17.00 and gave the stock an outperform rating in a research note on Friday, February 16th. Barclays reduced their price objective on shares of Independence Realty Trust from $22.00 to $18.00 and set an overweight rating on the stock in a research report on Tuesday, February 20th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Independence Realty Trust in a research report on Tuesday, January 30th. They set a buy rating and a $18.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average 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.