Independence Realty Trust (IRT) Set to Announce Quarterly Earnings on Tuesday

Independence Realty Trust (NYSE:IRTGet Rating) will be releasing its earnings data after the market closes on Tuesday, May 3rd. Analysts expect Independence Realty Trust to post earnings of $0.25 per share for the quarter. Independence Realty Trust has set its FY 2022 guidance at $1.000-$1.040 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

Independence Realty Trust (NYSE:IRTGet Rating) last issued its quarterly earnings results on Wednesday, February 16th. The real estate investment trust reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates of $0.23. Independence Realty Trust had a return on equity of 3.05% and a net margin of 17.82%. During the same period last year, the business earned $0.22 EPS. On average, analysts expect Independence Realty Trust to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

NYSE:IRT opened at $27.88 on Tuesday. The stock’s 50-day simple moving average is $26.15 and its 200 day simple moving average is $24.60. The company has a market cap of $6.17 billion, a P/E ratio of 73.37, a P/E/G ratio of 13.49 and a beta of 0.95. Independence Realty Trust has a 52-week low of $15.62 and a 52-week high of $28.42.

The company also recently announced a quarterly dividend, which was paid on Friday, April 22nd. Stockholders of record on Friday, April 1st were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Thursday, March 31st. Independence Realty Trust’s payout ratio is 126.32%.

Several equities research analysts recently issued reports on the company. Compass Point upgraded Independence Realty Trust from a “neutral” rating to a “buy” rating and boosted their price target for the company from $26.75 to $27.75 in a research note on Monday, January 10th. KeyCorp boosted their price target on Independence Realty Trust from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, April 1st. StockNews.com started coverage on Independence Realty Trust in a research note on Thursday, March 31st. They set a “sell” rating for the company. Barclays started coverage on Independence Realty Trust in a research note on Tuesday, January 18th. They set an “overweight” rating and a $30.00 target price for the company. Finally, Jefferies Financial Group started coverage on Independence Realty Trust in a research note on Friday. They set a “buy” rating and a $32.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $27.48.

Several institutional investors and hedge funds have recently made changes to their positions in the company. State of Tennessee Treasury Department lifted its stake in shares of Independence Realty Trust by 0.8% in the 4th quarter. State of Tennessee Treasury Department now owns 59,317 shares of the real estate investment trust’s stock valued at $1,532,000 after acquiring an additional 479 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Independence Realty Trust by 1.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 52,335 shares of the real estate investment trust’s stock valued at $1,352,000 after acquiring an additional 792 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of Independence Realty Trust in the 4th quarter valued at $61,000. Royal Bank of Canada lifted its stake in shares of Independence Realty Trust by 12.0% in the 3rd quarter. Royal Bank of Canada now owns 43,478 shares of the real estate investment trust’s stock valued at $886,000 after acquiring an additional 4,645 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in Independence Realty Trust by 4.0% in the fourth quarter. California State Teachers Retirement System now owns 146,005 shares of the real estate investment trust’s stock valued at $3,771,000 after purchasing an additional 5,668 shares during the period. Institutional investors own 92.52% of the company’s stock.

Independence Realty Trust Company Profile (Get Rating)

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily apartment properties 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 for Independence Realty Trust (NYSE:IRT)

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