IRT has been the topic of a number of other research reports. FBR & Co reissued an outperform rating and set a $10.75 price objective on shares of Independence Realty Trust in a report on Tuesday, July 11th. Zacks Investment Research cut shares of Independence Realty Trust from a hold rating to a sell rating in a report on Wednesday, July 12th. ValuEngine cut shares of Independence Realty Trust from a buy rating to a hold rating in a report on Thursday, July 20th. Finally, BidaskClub raised shares of Independence Realty Trust from a hold rating to a buy rating in a report on Saturday, August 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $11.00.
Independence Realty Trust (NYSE IRT) opened at $10.40 on Wednesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.40. Independence Realty Trust has a 12 month low of $8.06 and a 12 month high of $10.63. The firm has a market cap of $874.44, a PE ratio of 14.34 and a beta of 1.07.
Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.11. The business had revenue of $39.86 million during the quarter, compared to analyst estimates of $40.38 million. Independence Realty Trust had a negative net margin of 10.91% and a negative return on equity of 3.08%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 earnings per share. equities analysts forecast that Independence Realty Trust will post 0.74 EPS for the current year.
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The company also recently declared a monthly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 6.92%. The ex-dividend date of this dividend is Thursday, December 28th. Independence Realty Trust’s dividend payout ratio (DPR) is presently -276.92%.
A number of hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. increased its stake in shares of Independence Realty Trust by 147.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,153 shares of the real estate investment trust’s stock valued at $100,000 after acquiring an additional 6,056 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Independence Realty Trust during the 1st quarter valued at about $102,000. Advisor Group Inc. increased its stake in shares of Independence Realty Trust by 76.8% during the 2nd quarter. Advisor Group Inc. now owns 10,251 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 4,454 shares during the last quarter. Loeb Partners Corp purchased a new stake in shares of Independence Realty Trust during the 3rd quarter worth about $102,000. Finally, Profund Advisors LLC purchased a new stake in shares of Independence Realty Trust during the 2nd quarter worth about $103,000. 65.50% of the stock is owned by hedge funds and other institutional investors.
About Independence Realty Trust
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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