Independence Realty Trust (NYSE:IRT) Updates FY 2025 Earnings Guidance

Key Points

• Independence Realty Trust (IRT) issued its FY 2025 earnings guidance, projecting earnings per share between 1.195 and 1.215, exceeding the consensus estimate of 1.172.
• The company recently increased its quarterly dividend to $0.17 per share, representing an annual yield of 3.97%.
• Analyst ratings show that seven out of ten analysts rate IRT as a "buy," with a current average target price of $22.40.

Independence Realty Trust (NYSE:IRT - Get Free Report) issued an update on its FY 2025 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.195-1.215 for the period, compared to the consensus estimate of 1.172. The company issued revenue guidance of -.

Independence Realty Trust Stock Up 0.1%

Independence Realty Trust stock traded up $0.03 during midday trading on Friday, hitting $16.80. The company's stock had a trading volume of 1,846,380 shares, compared to its average volume of 2,143,913. The stock's 50-day moving average price is $17.78 and its 200-day moving average price is $19.10. Independence Realty Trust has a 12 month low of $16.59 and a 12 month high of $22.26. The company has a market capitalization of $3.93 billion, a PE ratio of 139.79, a price-to-earnings-growth ratio of 2.43 and a beta of 0.93.

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

Independence Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Friday, June 27th were paid a dividend of $0.17 per share. This is a boost from Independence Realty Trust's previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, June 27th. Independence Realty Trust's payout ratio is currently 566.67%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays boosted their target price on shares of Independence Realty Trust from $21.00 to $22.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. UBS Group dropped their price target on shares of Independence Realty Trust from $24.00 to $21.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Compass Point raised shares of Independence Realty Trust from a "neutral" rating to a "buy" rating and set a $24.00 price target on the stock in a research report on Thursday. Finally, JMP Securities reissued a "market outperform" rating and issued a $25.00 price target on shares of Independence Realty Trust in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $22.60.

Institutional Investors Weigh In On Independence Realty Trust

An institutional investor recently raised its position in Independence Realty Trust stock. Goldman Sachs Group Inc. increased its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 16.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,935,487 shares of the real estate investment trust's stock after purchasing an additional 420,682 shares during the quarter. Goldman Sachs Group Inc. owned about 1.26% of Independence Realty Trust worth $62,320,000 at the end of the most recent quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

About Independence Realty Trust

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.