Analysts expect Independence Realty Trust, Inc. (NYSE:IRT) to post earnings per share of $0.26
Wall Street brokers expect Independence Realty Trust, Inc. (NYSE: IRT – Get Rating) to report earnings of $0.26 per share for the current quarter, according to Zacks. Three analysts have made earnings estimates for Independence Realty Trust, with the lowest EPS estimate of $0.25 and the highest estimate of $0.26. Independence Realty Trust reported earnings per share of $0.20 in the same quarter last year, suggesting a positive 30% year-over-year growth rate. The company is expected to release its next quarterly results on Monday, January 1.
On average, analysts expect Independence Realty Trust to report annual earnings of $1.05 per share for the current fiscal year, with EPS estimates ranging from $1.04 to $1.07. For the next fiscal year, analysts expect the company to post earnings of $1.16 per share, with EPS estimates ranging from $1.10 to $1.19. Zacks Investment Research EPS averages are an average average based on a survey of sell-side research firms that track Independence Realty Trust.
Independence Realty Trust (NYSE:IRT – Get Rating) last released quarterly earnings data on Tuesday, May 3. The real estate investment trust reported earnings per share of $0.34 for the quarter, beating the consensus estimate of $0.25 by $0.09. Independence Realty Trust posted a return on equity of 5.34% and a net margin of 34.18%. During the same period last year, the company posted EPS of $0.18.
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IRT has been the subject of several recent research reports. StockNews.com launched coverage on Independence Realty Trust in a research report Thursday, March 31. They put a “sell” mark on the stock. BTIG Research launched coverage on Independence Realty Trust in a research report on Monday, May 9. They set a “buy” rating and a price target of $27.00 on the stock. Deutsche Bank Aktiengesellschaft raised its price target on Independence Realty Trust from $29.00 to $30.00 and gave the stock a “buy” rating in a Thursday, March 24 research report. Barclays lowered its price target on Independence Realty Trust from $30.00 to $28.00 in a Tuesday May 10 report. Finally, Jefferies Financial Group began covering Independence Realty Trust in a Friday, April 22 report. They set a “buy” rating and a price target of $32.00 on the stock. One investment analyst gave the stock a sell rating, two gave the company a hold rating and eleven gave the company a buy rating. According to data from MarketBeat, Independence Realty Trust currently has an average rating of “Buy” and a consensus target price of $27.25.
Independence Realty Trust stock opened Friday at $22.47. The stock’s 50-day moving average price is $24.98 and its 200-day moving average price is $24.70. The company has a market capitalization of $4.97 billion, a PE ratio of 31.65, a growth price-earnings ratio of 11.19 and a beta of 0.88. Independence Realty Trust has a one-year minimum of $16.50 and a one-year maximum of $28.42.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 22. Shareholders of record on Friday, July 1 will receive a dividend of $0.14. This represents a dividend of $0.56 on an annualized basis and a dividend yield of 2.49%. This is an increase from Independence Realty Trust’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, June 30. Independence Realty Trust’s payout ratio is 67.61%.
Several hedge funds and other institutional investors have recently changed their holdings in the company. BlackRock Inc. increased its equity stake in Independence Realty Trust by 100.0% in Q1. BlackRock Inc. now owns 39,462,883 shares of the real estate investment trust valued at $1,043,399,000 after acquiring an additional 19,735,415 shares in the last quarter. Vanguard Group Inc. increased its stake in Independence Realty Trust to 98.9% during the 1st quarter. Vanguard Group Inc. now owns 24,329,328 shares of the real estate investment trust worth $643,267,000 after purchasing an additional 12,099,993 shares in the last quarter. State Street Corp increased its stake in Independence Realty Trust by 121.7% in Q1. State Street Corp now owns 12,302,671 shares of the real estate investment trust worth $326,733,000 after buying an additional 6,753,959 shares in the last quarter. Wellington Management Group LLP increased its stake in Independence Realty Trust by 1.4% during the first quarter. Wellington Management Group LLP now owns 7,494,895 shares of the real estate investment trust worth $198,165,000 after buying an additional 101,479 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in Independence Realty Trust by 5.9% during the 4th quarter. Deutsche Bank AG now owns 5,975,206 shares of the real estate investment trust worth $154,340,000 after buying an additional 334,421 shares in the last quarter. Institutional investors and hedge funds hold 82.42% of the company’s shares.
Company Profile Independence Realty Trust (Get a rating)
Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily apartment buildings in non-gateway U.S. markets, including Atlanta, Louisville, Memphis and Raleigh. IRT’s investment strategy is focused on growth within key amenity-rich submarkets that offer good school districts, high-quality retail and large employment centers.
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