Independence Realty Trust (IRT) Getting Somewhat Favorable Media Coverage, Study Finds
News headlines about Independence Realty Trust (NYSE:IRT) have trended somewhat positive this week, according to Accern Sentiment. The research group rates the sentiment of news coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Independence Realty Trust earned a media sentiment score of 0.12 on Accern’s scale. Accern also assigned media coverage about the real estate investment trust an impact score of 46.1085288871119 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
These are some of the headlines that may have impacted Accern’s scoring:
- Independence Realty Trust, Inc. (NYSE:IRT) Trading Down – Insider Trading Activity – Modern Readers (modernreaders.com)
- Insider Buying: Independence Realty Trust, Inc. (NYSE:IRT) CEO Purchases 35,000 Shares of Stock (americanbankingnews.com)
- Short Interest in Independence Realty Trust, Inc. (IRT) Declines By 19.3% – Newburgh Gazette (newburghgazette.com)
- Digital Realty Trust, Inc. Declares Quarterly Dividend of $0.93 (DLR) (naijaoversabi.com)
- Arbor Realty Trust (NYSE:ABR) Experiences Heavier than Average Trading Volume (ismboard.com)
Independence Realty Trust (NYSE:IRT) opened at 10.17 on Thursday. Independence Realty Trust has a 12 month low of $7.74 and a 12 month high of $10.70. The company has a 50-day moving average of $10.00 and a 200 day moving average of $9.46. The company’s market cap is $700.02 million.
Independence Realty Trust (NYSE:IRT) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $39.43 million for the quarter, compared to the consensus estimate of $39.43 million. Independence Realty Trust had a negative net margin of 10.28% and a negative return on equity of 3.22%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 earnings per share. On average, equities analysts forecast that Independence Realty Trust will post $0.46 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be paid a $0.06 dividend. The ex-dividend date is Thursday, July 27th. This represents a $0.72 annualized dividend and a dividend yield of 7.08%. Independence Realty Trust’s dividend payout ratio is presently -313.03%.
Several brokerages have recently commented on IRT. Zacks Investment Research downgraded Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, April 19th. ValuEngine cut shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. FBR & Co raised shares of Independence Realty Trust from a “market perform” rating to an “outperform” rating and raised their price target for the company from $9.75 to $11.50 in a research report on Thursday, June 15th. JMP Securities reaffirmed an “outperform” rating and issued a $11.50 price target (up previously from $10.50) on shares of Independence Realty Trust in a research report on Friday, June 30th. Finally, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Independence Realty Trust in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Independence Realty Trust has an average rating of “Buy” and an average price target of $10.45.
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In other news, CEO Scott Schaeffer bought 35,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were purchased at an average price of $10.12 per share, for a total transaction of $354,200.00. Following the completion of the purchase, the chief executive officer now owns 155,306 shares in the company, valued at approximately $1,571,696.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.58% of the company’s stock.
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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