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

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$11.04 +0.08 (+0.73 %)
(As of 05/26/2019 04:00 PM ET)
Previous Close$11.04
Today's Range$10.9691 - $11.08
52-Week Range$8.75 - $11.08
Volume289,213 shs
Average Volume466,636 shs
Market Capitalization$991.78 million
P/E Ratio14.92
Dividend Yield6.57%
Beta0.89
Independence Realty Trust (NYSE: IRT) is a real estate investment trust that currently owns and operates 58 multifamily apartment properties, totaling 15,880 units, across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers. IRT aims to provide stockholders attractive risk-adjusted returns through diligent portfolio management, strong operational performance, and a consistent return of capital through distributions and capital appreciation.

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Industry, Sector and Symbol

Industry Real estate investment trusts
Sub-IndustryN/A
SectorFinance
CUSIPN/A
Phone267-270-4800

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$190.71 million
Cash Flow$0.8288 per share
Book Value$6.87 per share

Profitability

Net Income$26.29 million

Miscellaneous

Employees451
Market Cap$991.78 million
Next Earnings Date8/1/2019 (Estimated)
OptionableOptionable

Independence Realty Trust (NYSE:IRT) Frequently Asked Questions

What is Independence Realty Trust's stock symbol?

Independence Realty Trust trades on the New York Stock Exchange (NYSE) under the ticker symbol "IRT."

How often does Independence Realty Trust pay dividends? What is the dividend yield for Independence Realty Trust?

Independence Realty Trust declared a quarterly dividend on Tuesday, March 19th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.18 per share on Thursday, April 25th. This represents a $0.72 annualized dividend and a dividend yield of 6.52%. The ex-dividend date of this dividend is Thursday, March 28th. View Independence Realty Trust's Dividend History.

How were Independence Realty Trust's earnings last quarter?

Independence Realty Trust Inc (NYSE:IRT) issued its quarterly earnings results on Wednesday, May, 1st. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by $0.15. The real estate investment trust had revenue of $49.47 million for the quarter, compared to analysts' expectations of $49.80 million. Independence Realty Trust had a net margin of 13.05% and a return on equity of 4.05%. View Independence Realty Trust's Earnings History.

When is Independence Realty Trust's next earnings date?

Independence Realty Trust is scheduled to release their next quarterly earnings announcement on Thursday, August 1st 2019. View Earnings Estimates for Independence Realty Trust.

What price target have analysts set for IRT?

6 Wall Street analysts have issued 1-year price targets for Independence Realty Trust's shares. Their forecasts range from $10.25 to $11.00. On average, they expect Independence Realty Trust's stock price to reach $10.6875 in the next twelve months. This suggests that the stock has a possible downside of 3.2%. View Analyst Price Targets for Independence Realty Trust.

What is the consensus analysts' recommendation for Independence Realty Trust?

6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Independence Realty Trust in the last year. There are currently 5 hold ratings and 1 buy rating for the stock, resulting in a consensus recommendation of "Hold." View Analyst Ratings for Independence Realty Trust.

What are Wall Street analysts saying about Independence Realty Trust stock?

Here are some recent quotes from research analysts about Independence Realty Trust stock:
  • 1. According to Zacks Investment Research, "Independence Realty Trust, Inc. is a real estate investment trust. It is focused on acquiring and owning well-located garden-style and mid-rise apartment properties. The Company owns apartment properties primarily in Arizona, Colorado, Georgia, Indiana, Texas and Virginia. Independence Realty Trust, Inc. is based in United States. " (5/18/2019)
  • 2. Boenning Scattergood analysts commented, "We believe that 1Q19 results suggest that IRT is on track to deliver the incremental $8-$9 million of revenues from the first two phases of its value-add program. IRT renovated 358 units through the end of 1Q19 at a 16% total IRR and is targeting completion on 1,500 units in 2019. The process is improving, and the company manages the inventory of renovated units available for rent by slowing down or speeding up turnover. Part of the reason we see the potential for dividend coverage (measured after recurring capex) being pushed out to 2020 is that we project more dispositions than acquisitions in 2019. This would effectively lower leverage, a goal that we think is slightly more imperative than dividend coverage at this juncture, given that the dividend shortfall is so modest, and that high leverage can exacerbate risk." (5/2/2019)

Has Independence Realty Trust been receiving favorable news coverage?

Media headlines about IRT stock have been trending somewhat negative recently, InfoTrie Sentiment Analysis reports. The research group identifies negative and positive news coverage by monitoring more than six thousand blog and news sources. The firm ranks coverage of companies on a scale of -5 to 5, with scores closest to five being the most favorable. Independence Realty Trust earned a daily sentiment score of -1.8 on InfoTrie's scale. They also gave headlines about the real estate investment trust a news buzz of 9.0 out of 10, indicating that recent news coverage is extremely likely to have an effect on the stock's share price in the next several days.

Who are some of Independence Realty Trust's key competitors?

What other stocks do shareholders of Independence Realty Trust own?

Who are Independence Realty Trust's key executives?

Independence Realty Trust's management team includes the folowing people:
  • Mr. Scott F. Schaeffer, Chairman & CEO (Age 57)
  • Mr. Farrell M. Ender, Pres (Age 43)
  • Mr. James J. Sebra, CFO & Treasurer (Age 43)
  • Mr. Jason R. Delozier, Chief Accounting Officer (Age 35)
  • Mr. Ted McHugh, SVP, Edelman Financial Communications & Capital Markets

Who are Independence Realty Trust's major shareholders?

Independence Realty Trust's stock is owned by a variety of of retail and institutional investors. Top institutional investors include BlackRock Inc. (18.36%), Renaissance Technologies LLC (4.74%), Principal Financial Group Inc. (2.58%), Jennison Associates LLC (2.47%), Northern Trust Corp (1.96%) and Phocas Financial Corp. (1.49%). Company insiders that own Independence Realty Trust stock include James J Sebra, Richard H Ross and Scott Schaeffer. View Institutional Ownership Trends for Independence Realty Trust.

Which institutional investors are selling Independence Realty Trust stock?

IRT stock was sold by a variety of institutional investors in the last quarter, including Morgan Stanley, Wells Fargo & Company MN, Raymond James & Associates, Jennison Associates LLC, BlueCrest Capital Management Ltd, Foundry Partners LLC, Teachers Insurance & Annuity Association of America and Orinda Asset Management LLC. View Insider Buying and Selling for Independence Realty Trust.

Which institutional investors are buying Independence Realty Trust stock?

IRT stock was bought by a variety of institutional investors in the last quarter, including Renaissance Technologies LLC, BlackRock Inc., Geode Capital Management LLC, Goldman Sachs Group Inc., Virginia Retirement Systems ET AL, Public Employees Retirement Association of Colorado, Charles Schwab Investment Management Inc. and Principal Financial Group Inc.. Company insiders that have bought Independence Realty Trust stock in the last two years include James J Sebra and Scott Schaeffer. View Insider Buying and Selling for Independence Realty Trust.

How do I buy shares of Independence Realty Trust?

Shares of IRT can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

What is Independence Realty Trust's stock price today?

One share of IRT stock can currently be purchased for approximately $11.04.

How big of a company is Independence Realty Trust?

Independence Realty Trust has a market capitalization of $991.78 million and generates $190.71 million in revenue each year. The real estate investment trust earns $26.29 million in net income (profit) each year or $0.74 on an earnings per share basis. Independence Realty Trust employs 451 workers across the globe.

What is Independence Realty Trust's official website?

The official website for Independence Realty Trust is http://www.irtliving.com/.

How can I contact Independence Realty Trust?

Independence Realty Trust's mailing address is 1835 Market Street Suite 2601, Philadelphia PA, 19103. The real estate investment trust can be reached via phone at 267-270-4800 or via email at [email protected]


MarketBeat Community Rating for Independence Realty Trust (NYSE IRT)

Community Ranking:  2.3 out of 5 (star star)
Outperform Votes:  267 (Vote Outperform)
Underperform Votes:  322 (Vote Underperform)
Total Votes:  589
MarketBeat's community ratings are surveys of what our community members think about Independence Realty Trust and other stocks. Vote "Outperform" if you believe IRT will outperform the S&P 500 over the long term. Vote "Underperform" if you believe IRT will underperform the S&P 500 over the long term. You may vote once every thirty days.
This page was last updated on 5/26/2019 by MarketBeat.com Staff

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