News headlines about Independence Realty Trust (NYSE:IRT) have trended somewhat positive this week, according to Accern Sentiment. Accern identifies negative and positive press coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Independence Realty Trust earned a news sentiment score of 0.15 on Accern’s scale. Accern also assigned news headlines about the real estate investment trust an impact score of 46.4283316527346 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Several brokerages have recently issued reports on IRT. FBR & Co reaffirmed a “buy” rating and issued a $11.50 target price on shares of Independence Realty Trust in a research note on Tuesday, September 12th. Zacks Investment Research lowered shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Ladenburg Thalmann Financial Services reissued a “buy” rating and set a $11.00 price objective on shares of Independence Realty Trust in a research note on Friday, September 8th. ValuEngine raised shares of Independence Realty Trust from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BidaskClub lowered shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $10.83.
Independence Realty Trust (IRT) opened at 10.16 on Thursday. Independence Realty Trust has a 1-year low of $7.74 and a 1-year high of $10.70. The company’s 50-day moving average is $10.15 and its 200 day moving average is $9.68.
Independence Realty Trust (NYSE:IRT) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Independence Realty Trust had a negative return on equity of 3.22% and a negative net margin of 10.28%. The business had revenue of $39.43 million for the quarter, compared to analysts’ expectations of $39.43 million. During the same period in the prior year, the business posted $0.22 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. Analysts anticipate that Independence Realty Trust will post $0.47 earnings per share for the current year.
The business also recently announced a monthly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were issued a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 7.09%. The ex-dividend date was Tuesday, August 29th. Independence Realty Trust’s payout ratio is presently -313.03%.
In related news, CEO Scott Schaeffer bought 35,000 shares of Independence Realty Trust stock in a transaction that occurred on Monday, August 7th. The shares were acquired at an average cost of $10.12 per share, for a total transaction of $354,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 155,306 shares of the company’s stock, valued at approximately $1,571,696.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.58% of the company’s stock.
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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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