Independence Realty Trust, Inc. (NYSE:IRT) Declares $0.17 Quarterly Dividend

Independence Realty Trust, Inc. (NYSE:IRT) declared a quarterly dividend on Monday, December 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of 0.17 per share by the real estate investment trust on Friday, January 23rd. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, December 31st.

Independence Realty Trust has decreased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Independence Realty Trust has a payout ratio of 234.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Independence Realty Trust to earn $1.27 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 53.5%.

Independence Realty Trust Stock Performance

Independence Realty Trust stock traded down $0.10 during trading hours on Tuesday, reaching $16.90. 155,130 shares of the stock were exchanged, compared to its average volume of 2,403,447. The stock has a market cap of $4.04 billion, a P/E ratio of 168.87, a P/E/G ratio of 2.34 and a beta of 1.01. The firm’s 50 day moving average is $16.45 and its 200 day moving average is $17.11. Independence Realty Trust has a 52-week low of $15.06 and a 52-week high of $21.86.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $167.14 million for the quarter, compared to analyst estimates of $168.31 million. Independence Realty Trust had a return on equity of 0.62% and a net margin of 3.42%.During the same quarter last year, the firm earned $0.29 earnings per share. Independence Realty Trust has set its FY 2025 guidance at 1.200-1.210 EPS. Equities research analysts expect that Independence Realty Trust will post 1.19 EPS for the current fiscal year.

About Independence Realty Trust

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL.