Independence Realty Trust, Inc. (NYSE:IRT) Plans $0.18 Quarterly Dividend

Key Points

• Independence Realty Trust declared a quarterly dividend of $0.18 per share, payable October 23 to shareholders of record on September 30. The dividend implies an annualized yield of approximately 4.5%.
• The REIT’s current earnings do not fully cover the dividend, with a reported payout ratio of 248.3%; however, analysts expect next year’s earnings to reduce the projected payout ratio to 61.5%.
• IRT reported quarterly EPS of $0.01, missing the $0.27 consensus estimate, while revenue rose 3.2% year over year to $167.24 million. Institutional investors own approximately 88.25% of the company’s stock.

Independence Realty Trust, Inc. (NYSE:IRT - Get Free Report) declared a quarterly dividend on Tuesday, September 8th. Shareholders of record on Wednesday, September 30th will be paid a dividend of 0.18 per share by the real estate investment trust on Friday, October 23rd. This represents a c) dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Wednesday, September 30th.

Independence Realty Trust has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Independence Realty Trust has a payout ratio of 248.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Independence Realty Trust to earn $1.17 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 61.5%.

Independence Realty Trust Stock Performance

Shares of IRT opened at $15.94 on Wednesday. Independence Realty Trust has a fifty-two week low of $14.60 and a fifty-two week high of $17.98. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 88.58 and a beta of 0.93. The firm has a 50 day moving average price of $16.68 and a 200-day moving average price of $16.31.

Independence Realty Trust (NYSE:IRT - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.26). Independence Realty Trust had a net margin of 6.52% and a return on equity of 1.22%. The business had revenue of $167.24 million for the quarter, compared to analysts' expectations of $166.93 million. During the same quarter in the previous year, the company earned $0.28 earnings per share. The business's quarterly revenue was up 3.2% on a year-over-year basis. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. As a group, equities research analysts predict that Independence Realty Trust will post 1.14 earnings per share for the current year.

Hedge Funds Weigh In On Independence Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of IRT. IFM Investors Pty Ltd boosted its stake in Independence Realty Trust by 1.6% during the fourth quarter. IFM Investors Pty Ltd now owns 38,532 shares of the real estate investment trust's stock valued at $674,000 after buying an additional 607 shares during the last quarter. Global Retirement Partners LLC grew its position in Independence Realty Trust by 15.9% in the fourth quarter. Global Retirement Partners LLC now owns 4,921 shares of the real estate investment trust's stock worth $86,000 after acquiring an additional 676 shares in the last quarter. American Century Companies Inc. increased its stake in Independence Realty Trust by 1.1% during the second quarter. American Century Companies Inc. now owns 70,678 shares of the real estate investment trust's stock worth $1,250,000 after acquiring an additional 789 shares during the last quarter. Sunbelt Securities Inc. raised its position in Independence Realty Trust by 37.5% during the third quarter. Sunbelt Securities Inc. now owns 4,270 shares of the real estate investment trust's stock valued at $70,000 after purchasing an additional 1,165 shares during the period. Finally, Allworth Financial LP raised its holdings in Independence Realty Trust by 25.9% during the 2nd quarter. Allworth Financial LP now owns 5,778 shares of the real estate investment trust's stock valued at $96,000 after buying an additional 1,187 shares during the period. Institutional investors own 88.25% of the company's stock.

Independence Realty Trust Company Profile

Independence Realty Trust is a self-administered equity real estate investment trust that acquires, redevelops and manages multi-family communities. The company focuses on workforce housing, targeting Class A and B garden-style apartments in suburban and urban infill locations. Its core activities include sourcing value-add acquisitions, overseeing property renovations and delivering in-house property management services to optimize rental income and occupancy levels.

Headquartered in Wayne, Pennsylvania, Independence Realty Trust maintains a geographically diverse portfolio across several high-growth U.S.

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