Independence Realty Trust (NYSE:IRT) Releases 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 -.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IRT. JMP Securities restated 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. Barclays raised their price target on Independence Realty Trust from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Compass Point upgraded Independence Realty Trust from a "neutral" rating to a "buy" rating and raised their price target for the stock from $22.00 to $24.00 in a research report on Thursday. Finally, UBS Group lowered their price target on Independence Realty Trust from $24.00 to $21.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $22.60.

Independence Realty Trust Price Performance

Shares of NYSE:IRT traded down $0.02 on Friday, hitting $16.75. 3,113,170 shares of the company's stock were exchanged, compared to its average volume of 2,417,875. Independence Realty Trust has a 12 month low of $16.59 and a 12 month high of $22.26. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 139.58, a price-to-earnings-growth ratio of 2.31 and a beta of 0.94. The business's 50 day simple moving average is $17.76 and its two-hundred day simple moving average is $19.09.

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

Independence Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Friday, June 27th were issued a $0.17 dividend. The ex-dividend date was Friday, June 27th. This is an increase from Independence Realty Trust's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 4.1%. Independence Realty Trust's dividend payout ratio is presently 566.67%.

Institutional Trading of Independence Realty Trust

A hedge fund recently raised its stake in Independence Realty Trust stock. Goldman Sachs Group Inc. boosted its position in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 16.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 approximately 1.26% of Independence Realty Trust worth $62,320,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 88.25% 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.