Independence Realty Trust (IRT) to Release Quarterly Earnings on Wednesday

Independence Realty Trust (NYSE:IRT - Get Free Report) is expected to announce its Q1 2025 earnings results after the market closes on Wednesday, April 30th. Analysts expect Independence Realty Trust to post earnings of $0.28 per share and revenue of $164.08 million for the quarter. Independence Realty Trust has set its FY 2025 guidance at 1.160-1.190 EPS.

Independence Realty Trust (NYSE:IRT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.24. Independence Realty Trust had a return on equity of 1.11% and a net margin of 6.15%. On average, analysts expect Independence Realty Trust to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Independence Realty Trust Stock Down 0.1 %

NYSE IRT traded down $0.02 on Monday, reaching $19.56. The company had a trading volume of 2,066,593 shares, compared to its average volume of 2,100,146. Independence Realty Trust has a 52 week low of $15.65 and a 52 week high of $22.26. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of 108.67, a PEG ratio of 2.91 and a beta of 0.98. The stock's 50 day moving average is $20.18 and its 200-day moving average is $20.15.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Friday, March 28th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.27%. Independence Realty Trust's dividend payout ratio (DPR) is presently 355.56%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. UBS Group started coverage on shares of Independence Realty Trust in a report on Monday, April 7th. They issued a "buy" rating and a $24.00 target price on the stock. JMP Securities reissued a "market outperform" rating and issued a $22.00 target price on shares of Independence Realty Trust in a research note on Tuesday, February 11th. Jefferies Financial Group upgraded Independence Realty Trust from a "hold" rating to a "buy" rating and lifted their price objective for the company from $20.00 to $24.00 in a report on Monday, March 10th. Barclays increased their target price on Independence Realty Trust from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. Finally, Wells Fargo & Company began coverage on shares of Independence Realty Trust in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $24.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Independence Realty Trust currently has an average rating of "Moderate Buy" and an average price target of $22.33.

Insider Transactions at Independence Realty Trust

In related news, CEO Scott Schaeffer sold 10,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $21.21, for a total transaction of $212,100.00. Following the completion of the transaction, the chief executive officer now owns 873,365 shares in the company, valued at approximately $18,524,071.65. This represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.58% of the company's stock.

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.