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

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$10.64 +0.02 (+0.19 %)
(As of 03/22/2019 09:56 AM ET)
Previous Close$10.62
Today's Range$10.63 - $10.65
52-Week Range$8.75 - $10.76
Volume800 shs
Average Volume637,143 shs
Market Capitalization$949.62 million
P/E Ratio14.35
Dividend Yield6.84%
Beta0.91
Independence Realty Trust (NYSE: IRT) is a real estate investment trust that currently owns and operates 59 multifamily apartment properties, totaling 16,120 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$0.8287 per share
Book Value$7.09 per share

Profitability

Net Income$26.29 million

Miscellaneous

EmployeesN/A
Market Cap$949.62 million
Next Earnings Date4/24/2019 (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 given a dividend of $0.18 per share on Thursday, April 25th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date 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) released its earnings results on Thursday, February, 21st. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.19 by $0.15. The real estate investment trust earned $49.72 million during the quarter, compared to analysts' expectations of $48.81 million. Independence Realty Trust had a net margin of 13.77% and a return on equity of 4.16%. 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 Wednesday, April 24th 2019. View Earnings Estimates for Independence Realty Trust.

What guidance has Independence Realty Trust issued on next quarter's earnings?

Independence Realty Trust issued an update on its FY 2019 earnings guidance on Thursday, February, 21st. The company provided EPS guidance of $0.74-0.78 for the period.

What price target have analysts set for IRT?

5 brokerages have issued 1-year target prices for Independence Realty Trust's stock. Their predictions range from $10.25 to $11.00. On average, they anticipate Independence Realty Trust's share price to reach $10.5833 in the next year. This suggests that the stock has a possible downside of 0.5%. View Analyst Price Targets for Independence Realty Trust.

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

5 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 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. " (3/19/2019)
  • 2. Boenning Scattergood analysts commented, "We are lowering our price target slightly to $11.00, based on lower earnings and a lower NAV estimate. While the company expects to cover the dividend with core FFO less recurring capex in 2H19, we calculate that dividend coverage will be elusive in 4Q19 by a small dollar amount (about $1 million, or a penny per share); therefore our price target is a 6% discount to NAV. If the company could cover its dividends and show stronger earnings momentum, we think the shares could trade in-line with or even at a premium to forward NAV. The company is on track to deliver $8-$9 million of incremental revenues from the first two phases of its value-add program and is beginning to soft circle units for renovation in 2021 and beyond. IRT renovated 1,232 units in 2018, and targets completions on 1,500 units in 2019." (2/22/2019)

Has Independence Realty Trust been receiving favorable news coverage?

News headlines about IRT stock have trended somewhat positive this week, InfoTrie reports. The research group identifies negative and positive press coverage by monitoring more than six thousand news and blog sources in real time. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores nearest to five being the most favorable. Independence Realty Trust earned a coverage optimism score of 0.8 on InfoTrie's scale. They also assigned media headlines about the real estate investment trust a news buzz of 7.0 out of 10, indicating that recent press coverage is likely to have an effect on the company's share price in the next few 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 many different of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (17.97%), Jennison Associates LLC (2.56%), Principal Financial Group Inc. (2.55%), Northern Trust Corp (2.01%), Mirae Asset Global Investments Co. Ltd. (1.90%) and Bank of New York Mellon Corp (1.66%). 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 Principal Financial Group Inc., Northern Trust Corp, Orinda Asset Management LLC, Barclays PLC, Chilton Capital Management LLC, Virginia Retirement Systems ET AL, Thrivent Financial for Lutherans and MetLife Investment Advisors LLC. View Insider Buying and Selling for Independence Realty Trust.

Which institutional investors are buying Independence Realty Trust stock?

IRT stock was purchased by a variety of institutional investors in the last quarter, including Vision Capital Corp, Jennison Associates LLC, BlackRock Inc., Oregon Public Employees Retirement Fund, Nuveen Asset Management LLC, Manning & Napier Group LLC, Dimensional Fund Advisors LP and Dimensional Fund Advisors LP. 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 $10.64.

How big of a company is Independence Realty Trust?

Independence Realty Trust has a market capitalization of $949.62 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.

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 Two Liberty Place 50 S. 16th Street Suite 3575, Philadelphia PA, 19102. 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:  258 (Vote Outperform)
Underperform Votes:  306 (Vote Underperform)
Total Votes:  564
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 3/22/2019 by MarketBeat.com Staff

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