Independence Realty Trust (NYSE:IRT) Announces FY 2026 Earnings Guidance

Independence Realty Trust (NYSE:IRT) updated its FY 2026 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.130-1.150 for the period, compared to the consensus estimate of 1.140.

Independence Realty Trust Stock Up 1.9%

Independence Realty Trust stock opened at $15.00 on Tuesday. The company’s fifty day simple moving average is $15.15 and its 200-day simple moving average is $16.06. Independence Realty Trust has a 12 month low of $14.33 and a 12 month high of $17.79. The stock has a market cap of $3.54 billion, a P/E ratio of 83.32 and a beta of 0.96.

Independence Realty Trust (NYSE:IRT) last posted its earnings results on Monday, November 2nd. The real estate investment trust reported $0.11 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.18). Independence Realty Trust had a return on equity of 1.22% and a net margin of 6.52%. The business had revenue of $171.96 million during the quarter, compared to the consensus estimate of $171.43 million. During the same period in the prior year, the firm earned $0.29 earnings per share. On average, equities research analysts expect that Independence Realty Trust will post 1.14 earnings per share for the current fiscal year.

Independence Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Wednesday, September 30th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Wednesday, September 30th. Independence Realty Trust’s payout ratio is currently 400.00%.

Wall Street Analysts Forecast Growth

IRT has been the subject of several research reports. Royal Bank Of Canada increased their target price on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Citizens Jmp restated a “market outperform” rating and set a $22.00 price target on shares of Independence Realty Trust in a research note on Thursday, September 10th. Weiss Ratings upgraded Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Barclays cut their price target on Independence Realty Trust from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, October 14th. Finally, Wells Fargo & Company reduced their price objective on Independence Realty Trust from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Independence Realty Trust currently has an average rating of “Moderate Buy” and an average target price of $19.39.

About Independence Realty Trust

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns, operates and acquires multifamily apartment communities in the United States. The company focuses on providing rental housing, with properties generally located in markets that offer population growth, employment opportunities and attractive long-term housing demand.

IRT’s portfolio is concentrated primarily in the Southeast and other select U.S. growth markets, including communities in states such as Georgia, North Carolina, South Carolina, Tennessee, Florida, Texas and Colorado.