Equities research analysts expect Independence Realty Trust Inc (NYSE:IRT) to post $0.19 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Independence Realty Trust’s earnings. Independence Realty Trust also posted earnings per share of $0.19 in the same quarter last year. The company is expected to report its next earnings report on Tuesday, October 30th.

On average, analysts expect that Independence Realty Trust will report full year earnings of $0.75 per share for the current financial year, with EPS estimates ranging from $0.75 to $0.76. For the next financial year, analysts forecast that the firm will report earnings of $0.81 per share, with EPS estimates ranging from $0.79 to $0.82. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Independence Realty Trust.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings data on Thursday, August 2nd. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The business had revenue of $46.73 million during the quarter, compared to analyst estimates of $47.47 million. Independence Realty Trust had a net margin of 8.19% and a return on equity of 2.24%.

Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Wednesday, July 4th. Compass Point restated a “buy” rating on shares of Independence Realty Trust in a research report on Friday, August 3rd. ValuEngine downgraded Independence Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, B. Riley decreased their target price on Independence Realty Trust from $11.50 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, April 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $11.08.

Institutional investors have recently made changes to their positions in the stock. Aperio Group LLC purchased a new position in Independence Realty Trust during the first quarter worth approximately $104,000. Oppenheimer & Co. Inc. purchased a new position in Independence Realty Trust during the first quarter worth approximately $111,000. Royal Bank of Canada lifted its position in Independence Realty Trust by 70.9% during the first quarter. Royal Bank of Canada now owns 14,522 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 6,027 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Independence Realty Trust during the second quarter worth approximately $171,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Independence Realty Trust during the second quarter worth approximately $190,000. Hedge funds and other institutional investors own 81.31% of the company’s stock.

Shares of NYSE IRT traded down $0.07 during midday trading on Tuesday, hitting $10.04. The stock had a trading volume of 329,860 shares, compared to its average volume of 405,620. The company has a market cap of $886.21 million, a PE ratio of 13.75 and a beta of 0.84. Independence Realty Trust has a 1 year low of $8.26 and a 1 year high of $10.63. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.27 and a quick ratio of 0.27.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 20th. Investors of record on Friday, July 6th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, July 5th. This represents a $0.72 dividend on an annualized basis and a yield of 7.17%. Independence Realty Trust’s payout ratio is 98.63%.

Independence Realty Trust Company Profile

Independence Realty Trust (NYSE: IRT) is a real estate investment trust that owns and operates 56 multifamily apartment properties, totaling 15,280 units, across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers.

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Earnings History and Estimates for Independence Realty Trust (NYSE:IRT)

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