Independence Realty Trust (NYSE:IRT) Issues FY 2021 Earnings Guidance

Independence Realty Trust (NYSE:IRT) updated its FY 2021 earnings guidance on Tuesday. The company provided EPS guidance of $0.720-0.750 for the period. The company issued revenue guidance of -.

Several equities analysts have weighed in on the stock. BTIG Research reiterated a neutral rating on shares of Independence Realty Trust in a research report on Tuesday, April 27th. KeyCorp lifted their price objective on shares of Independence Realty Trust from $16.00 to $18.00 and gave the stock an overweight rating in a research report on Monday, May 24th. Zacks Investment Research upgraded shares of Independence Realty Trust from a sell rating to a hold rating in a research report on Wednesday, May 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Independence Realty Trust from $18.00 to $19.00 and gave the stock a buy rating in a research report on Wednesday, May 26th. Finally, BMO Capital Markets assumed coverage on shares of Independence Realty Trust in a research note on Monday, April 26th. They set an outperform rating and a $20.00 target price for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $15.94.

Shares of NYSE:IRT traded up $0.23 during trading on Thursday, reaching $18.56. 431,999 shares of the company traded hands, compared to its average volume of 641,115. The company has a fifty day simple moving average of $16.53. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 109.18, a P/E/G ratio of 11.57 and a beta of 0.93. Independence Realty Trust has a 1-year low of $10.40 and a 1-year high of $18.57.

Independence Realty Trust (NYSE:IRT) last issued its earnings results on Wednesday, April 28th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Independence Realty Trust had a net margin of 7.54% and a return on equity of 2.45%. As a group, equities research analysts predict that Independence Realty Trust will post 0.78 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 23rd. Investors of record on Friday, April 2nd were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Wednesday, March 31st. Independence Realty Trust’s payout ratio is presently 60.00%.

About Independence Realty Trust

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 and Estimates for Independence Realty Trust (NYSE:IRT)

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