Independence Realty Trust Stock Price, News & Analysis (NYSE:IRT)

8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Independence Realty Trust in the last year. There are currently 4 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" IRT shares.
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8 equities research analysts have issued 1-year price targets for Independence Realty Trust's stock. Their IRT share price targets range from $15.00 to $22.00. On average, they anticipate the company's stock price to reach $18.75 in the next twelve months. This suggests a possible upside of 32.4% from the stock's current price.
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Independence Realty Trust's stock was trading at $16.86 at the beginning of 2023. Since then, IRT stock has decreased by 16.0% and is now trading at $14.16.
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Independence Realty Trust saw a increase in short interest in the month of November. As of November 15th, there was short interest totaling 7,700,000 shares, an increase of 8.5% from the October 31st total of 7,100,000 shares. Based on an average trading volume of 2,220,000 shares, the days-to-cover ratio is presently 3.5 days.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, February 21st 2024.
View our IRT earnings forecast.

Independence Realty Trust, Inc. (NYSE:IRT) posted its quarterly earnings results on Tuesday, May, 3rd. The real estate investment trust reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.09. Independence Realty Trust had a trailing twelve-month return on equity of 1.54% and a net margin of 8.67%. During the same quarter in the prior year, the business earned $0.18 earnings per share.

Independence Realty Trust announced a quarterly dividend on Tuesday, September 12th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.16 per share on Friday, October 20th. This represents a $0.64 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend is Thursday, September 28th.
Read our dividend analysis for IRT.

Independence Realty Trust (NYSE:IRT) pays an annual dividend of $0.64 per share and currently has a dividend yield of 4.53%. IRT has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 2 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 246.16%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, IRT will have a dividend payout ratio of 53.78% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for IRT.

ETFs with the largest weight of Independence Realty Trust (NYSE:IRT) stock in their portfolio include Private Real Estate Strategy via Liquid REITs ETF (PRVT), Residential REIT ETF (HAUS), Kelly Residential & Apartment Real Estate ETF (RESI), Nuveen Short-Term REIT ETF (NURE), Hoya Capital Housing ETF (HOMZ), iShares Residential and Multisector Real Estate ETF (REZ), SPDR Dow Jones REIT ETF (RWR) and JPMorgan BetaBuilders MSCI US REIT ETF (BBRE).

Independence Realty Trust issued an update on its fourth quarter earnings guidance on Monday, October, 30th. The company provided earnings per share guidance of $0.29-0.30 for the period, compared to the consensus earnings per share estimate of $0.31.

6 employees have rated Independence Realty Trust Chief Executive Officer Scott F. Schaeffer on Glassdoor.com. Scott F. Schaeffer has an approval rating of 69% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Independence Realty Trust investors own include Annaly Capital Management (NLY), Energy Transfer (ET), AT&T (T), Government Properties Income Trust (GOV), Medical Properties Trust (MPW), Omega Healthcare Investors (OHI), Ares Capital (ARCC), New Residential Investment (NRZ), Verizon Communications (VZ) and CBL & Associates Properties (CBL).

Independence Realty Trust's stock is owned by a number of retail and institutional investors. Top institutional investors include Ranger Global Real Estate Advisors LLC (1.57%), Jennison Associates LLC (1.42%), Charles Schwab Investment Management Inc. (1.36%), Northern Trust Corp (1.28%), Wellington Management Group LLP (1.17%) and Bank of New York Mellon Corp (1.07%).
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Shares of IRT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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