Independence Realty Trust, Inc. (NYSE:IRT) is set to post its quarterly earnings results before the market opens on Thursday, October 26th. Analysts expect Independence Realty Trust to post earnings of $0.08 per share for the quarter. Independence Realty Trust has set its FY17 guidance at $0.73-0.76 EPS.
Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. Independence Realty Trust had a negative net margin of 10.28% and a negative return on equity of 3.22%. The business had revenue of $39.43 million during the quarter, compared to the consensus estimate of $39.43 million. During the same quarter last year, the firm posted $0.22 EPS. Independence Realty Trust’s revenue was up 2.9% compared to the same quarter last year. On average, analysts expect Independence Realty Trust to post $0.74 EPS for the current fiscal year and $0.79 EPS for the next fiscal year.
Shares of Independence Realty Trust, Inc. (NYSE IRT) opened at 10.57 on Wednesday. The firm’s market cap is $727.71 million. The company has a 50-day moving average of $10.28 and a 200 day moving average of $9.90. Independence Realty Trust, Inc. has a 52-week low of $7.74 and a 52-week high of $10.60.
The firm also recently announced a monthly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 6.81%. Independence Realty Trust’s dividend payout ratio is presently -313.03%.
In other news, CEO Scott Schaeffer acquired 35,000 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was acquired at an average price of $10.12 per share, for a total transaction of $354,200.00. Following the completion of the acquisition, the chief executive officer now owns 155,306 shares in the company, valued at $1,571,696.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is currently owned by corporate insiders.
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A number of equities analysts recently commented on the company. BidaskClub upgraded Independence Realty Trust from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. FBR & Co reiterated a “buy” rating and issued a $11.50 price objective on shares of Independence Realty Trust in a report on Tuesday, September 12th. Robert W. Baird reiterated a “buy” rating and issued a $11.00 price objective on shares of Independence Realty Trust in a report on Tuesday, October 17th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Independence Realty Trust in a report on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded Independence Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Independence Realty Trust presently has an average rating of “Buy” and an average price target of $11.00.
Independence Realty Trust Company Profile
Independence Realty Trust, Inc is an internally-managed real estate investment trust (REIT). The Company is engaged in the business of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of real estate assets. The Company owns apartment properties in geographic non-gateway markets.
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