Independence Realty Trust (IRT) Scheduled to Post Earnings on Wednesday

Independence Realty Trust (NYSE:IRT - Get Free Report) is set to post its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect Independence Realty Trust to post earnings of $0.28 per share for the quarter. Individual interested in participating in the company's earnings conference call can do so using this link.

Independence Realty Trust Trading Down 0.7 %

Independence Realty Trust stock traded down $0.11 during trading hours on Wednesday, reaching $15.57. 2,268,325 shares of the company were exchanged, compared to its average volume of 2,267,152. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of -222.33, a PEG ratio of 2.32 and a beta of 1.07. The stock has a 50-day moving average of $15.55 and a 200 day moving average of $14.70. Independence Realty Trust has a 12 month low of $11.61 and a 12 month high of $18.77.

Independence Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Shareholders of record on Friday, March 29th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.64 dividend on an annualized basis and a yield of 4.11%. Independence Realty Trust's payout ratio is currently -914.16%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada increased their price objective on Independence Realty Trust from $16.00 to $17.00 and gave the company an "outperform" rating in a research report on Friday, February 16th. Deutsche Bank Aktiengesellschaft assumed coverage on Independence Realty Trust in a research report on Tuesday, January 30th. They issued a "buy" rating and a $18.00 price objective for the company. Barclays reduced their price objective on Independence Realty Trust from $22.00 to $18.00 and set an "overweight" rating for the company in a research report on Tuesday, February 20th. JMP Securities increased their price objective on Independence Realty Trust from $15.00 to $17.00 and gave the company a "market outperform" rating in a research report on Wednesday, March 6th. Finally, TheStreet cut Independence Realty Trust from a "c" rating to a "d+" rating in a research report on Friday, March 1st. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $17.00.

Institutional Trading of Independence Realty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new position in Independence Realty Trust in the fourth quarter valued at about $31,000. Lazard Asset Management LLC bought a new position in Independence Realty Trust during the fourth quarter worth about $31,000. KBC Group NV bought a new position in Independence Realty Trust during the fourth quarter worth about $49,000. IFP Advisors Inc boosted its holdings in Independence Realty Trust by 176.2% during the second quarter. IFP Advisors Inc now owns 3,000 shares of the real estate investment trust's stock worth $55,000 after buying an additional 1,914 shares during the last quarter. Finally, Hollencrest Capital Management bought a new position in Independence Realty Trust during the first quarter worth about $88,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

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.