Independence Realty Trust, Inc. to Issue Quarterly Dividend of $0.17 (NYSE:IRT)

Key Points

• Independence Realty Trust, Inc. has announced a quarterly dividend of $0.17 per share, with the dividend to be paid on October 24th to investors of record as of September 30th.
• The company has a payout ratio of 220.7%, indicating that it relies on its balance sheet to cover its dividend payments rather than earnings alone.
• Independence Realty Trust reported earnings of $0.28 per share for the last quarter, matching analyst estimates but falling short of revenue expectations.

Independence Realty Trust, Inc. (NYSE:IRT - Get Free Report) announced a quarterly dividend on Monday, September 8th, Wall Street Journal reports. Investors of record on Tuesday, September 30th will be paid a dividend of 0.17 per share by the real estate investment trust on Friday, October 24th. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 30th.

Independence Realty Trust has a payout ratio of 220.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Independence Realty Trust to earn $1.27 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 50.4%.

Independence Realty Trust Stock Performance

NYSE:IRT traded down $0.31 during mid-day trading on Friday, hitting $17.40. The stock had a trading volume of 2,106,650 shares, compared to its average volume of 2,280,150. Independence Realty Trust has a twelve month low of $16.59 and a twelve month high of $22.26. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 145.00, a PEG ratio of 2.44 and a beta of 0.96. The company's 50 day simple moving average is $17.44 and its 200 day simple moving average is $18.60.

Independence Realty Trust (NYSE:IRT - Get Free Report) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. Independence Realty Trust had a net margin of 4.31% and a return on equity of 0.78%. The business had revenue of $161.89 million during the quarter, compared to the consensus estimate of $164.78 million. During the same period last year, the business posted $0.28 EPS. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. As a group, equities analysts forecast that Independence Realty Trust will post 1.19 earnings per share for the current year.

Independence Realty Trust Company Profile

Independence Realty Trust, Inc NYSE: IRT is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL.