Equities research analysts expect Independence Realty Trust Inc (NYSE:IRT) to post earnings of $0.19 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Independence Realty Trust’s earnings. The lowest EPS estimate is $0.18 and the highest is $0.19. Independence Realty Trust posted earnings of $0.22 per share in the same quarter last year, which suggests a negative year over year growth rate of 13.6%. The firm is expected to announce its next earnings results on Wednesday, August 2nd.
According to Zacks, analysts expect that Independence Realty Trust will report full-year earnings of $0.74 per share for the current fiscal year, with EPS estimates ranging from $0.72 to $0.76. For the next financial year, analysts anticipate that the company will report earnings of $0.78 per share, with EPS estimates ranging from $0.74 to $0.80. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Independence Realty Trust.
Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.18 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.18. The company had revenue of $38.90 million during the quarter, compared to the consensus estimate of $38.53 million. During the same period in the previous year, the company earned $0.21 EPS.
IRT has been the topic of several research analyst reports. Zacks Investment Research raised shares of Independence Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, April 13th. FBR & Co raised shares of Independence Realty Trust from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $9.75 to $11.50 in a report on Thursday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $10.38.
Shares of Independence Realty Trust (NYSE IRT) traded down 0.99% during trading on Tuesday, hitting $9.99. 1,387,283 shares of the stock were exchanged. Independence Realty Trust has a 52-week low of $7.37 and a 52-week high of $10.70. The firm has a 50 day moving average of $9.46 and a 200-day moving average of $9.16. The stock’s market cap is $687.50 million.
The firm also recently declared a monthly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were given a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 7.21%. The ex-dividend date was Friday, May 26th.
Large investors have recently made changes to their positions in the company. Ameriprise Financial Inc. acquired a new stake in shares of Independence Realty Trust during the first quarter valued at $102,000. UBS Asset Management Americas Inc. acquired a new stake in shares of Independence Realty Trust during the fourth quarter valued at $103,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Independence Realty Trust during the first quarter valued at $122,000. Credit Agricole S A boosted its stake in shares of Independence Realty Trust by 403.8% in the first quarter. Credit Agricole S A now owns 15,463 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 12,394 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Independence Realty Trust during the first quarter valued at $164,000.
About Independence Realty Trust
Independence Realty Trust, Inc is an internally-managed real estate investment trust (REIT). The Company is engaged in the business of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of real estate assets. The Company owns apartment properties in geographic non-gateway markets.
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