Independence Realty Trust, Inc. (IRT) Scheduled to Post Earnings on Thursday
Independence Realty Trust, Inc. (NYSE:IRT) is set to post its quarterly earnings results before the market opens on Thursday, October 26th. Analysts expect Independence Realty Trust to post earnings of $0.08 per share for the quarter. Independence Realty Trust has set its FY17 guidance at $0.73-0.76 EPS.
Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. Independence Realty Trust had a negative return on equity of 3.22% and a negative net margin of 10.28%. The firm had revenue of $39.43 million for the quarter, compared to analyst estimates of $39.43 million. During the same quarter last year, the company earned $0.22 EPS. The company’s revenue was up 2.9% on a year-over-year basis. On average, analysts expect Independence Realty Trust to post $0.46 EPS for the current fiscal year and $0.29 EPS for the next fiscal year.
Independence Realty Trust, Inc. (NYSE IRT) opened at 10.51 on Thursday. The firm’s 50-day moving average price is $10.26 and its 200-day moving average price is $9.86. Independence Realty Trust, Inc. has a 1-year low of $7.74 and a 1-year high of $10.58. The company’s market cap is $723.58 million.
The firm also recently announced a monthly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.72 dividend on an annualized basis and a yield of 6.85%. Independence Realty Trust’s payout ratio is -313.03%.
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In other news, CEO Scott Schaeffer purchased 35,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were purchased at an average price of $10.12 per share, with a total value of $354,200.00. Following the completion of the acquisition, the chief executive officer now owns 155,306 shares in the company, valued at approximately $1,571,696.72. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.58% of the company’s stock.
Several research firms have recently weighed in on IRT. Zacks Investment Research raised shares of Independence Realty Trust from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Friday, August 25th. ValuEngine cut shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. BidaskClub cut shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Robert W. Baird reaffirmed a “buy” rating and issued a $11.00 price target on shares of Independence Realty Trust in a report on Tuesday. Finally, JMP Securities reaffirmed an “outperform” rating and issued a $11.50 price target (up previously from $10.50) on shares of Independence Realty Trust in a report on Friday, June 30th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Independence Realty Trust currently has a consensus rating of “Buy” and a consensus price target of $11.00.
Independence Realty Trust Company Profile
Independence Realty Trust, Inc is an internally-managed real estate investment trust (REIT). The Company is engaged in the business of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of real estate assets. The Company owns apartment properties in geographic non-gateway markets.
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