Equities analysts expect Independence Realty Trust, Inc. (NYSE:IRT) to post sales of $43.11 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Independence Realty Trust’s earnings, with estimates ranging from $40.78 million to $44.05 million. Independence Realty Trust reported sales of $38.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 13.4%. The company is scheduled to report its next earnings report on Thursday, February 15th.

According to Zacks, analysts expect that Independence Realty Trust will report full year sales of $43.11 million for the current year, with estimates ranging from $158.97 million to $162.82 million. For the next year, analysts expect that the business will post sales of $182.55 million per share, with estimates ranging from $169.11 million to $189.76 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Independence Realty Trust.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.11. Independence Realty Trust had a negative return on equity of 3.08% and a negative net margin of 10.91%. The business had revenue of $39.86 million during the quarter, compared to analyst estimates of $40.38 million. During the same quarter in the prior year, the business posted $0.21 EPS. Independence Realty Trust’s revenue for the quarter was up 1.1% compared to the same quarter last year.

Several research firms have commented on IRT. National Securities increased their price objective on shares of Independence Realty Trust from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday. Zacks Investment Research downgraded shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. B. Riley reissued a “buy” rating on shares of Independence Realty Trust in a report on Wednesday, November 1st. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Independence Realty Trust in a report on Wednesday, November 1st. Finally, Robert W. Baird reissued a “buy” rating and set a $11.00 price objective on shares of Independence Realty Trust in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $11.33.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its holdings in shares of Independence Realty Trust by 40.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 92,003 shares of the real estate investment trust’s stock valued at $936,000 after acquiring an additional 26,391 shares during the last quarter. Sterling Capital Management LLC bought a new position in shares of Independence Realty Trust in the 3rd quarter valued at about $852,000. PVG Asset Management Corp lifted its holdings in shares of Independence Realty Trust by 34.6% in the 3rd quarter. PVG Asset Management Corp now owns 178,968 shares of the real estate investment trust’s stock valued at $1,820,000 after acquiring an additional 46,054 shares during the last quarter. Piedmont Investment Advisors LLC lifted its holdings in shares of Independence Realty Trust by 38.6% in the 3rd quarter. Piedmont Investment Advisors LLC now owns 17,785 shares of the real estate investment trust’s stock valued at $181,000 after acquiring an additional 4,956 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Independence Realty Trust by 4.7% in the 3rd quarter. California Public Employees Retirement System now owns 337,831 shares of the real estate investment trust’s stock valued at $3,436,000 after acquiring an additional 15,294 shares during the last quarter. 67.81% of the stock is owned by institutional investors and hedge funds.

Shares of Independence Realty Trust (IRT) opened at $10.45 on Friday. Independence Realty Trust has a 12 month low of $8.06 and a 12 month high of $10.63. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $878.62, a price-to-earnings ratio of 14.31 and a beta of 1.08.

The business also recently disclosed 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. This represents a $0.72 annualized dividend and a dividend yield of 6.89%. The ex-dividend date of this dividend is Thursday, December 28th. Independence Realty Trust’s dividend payout ratio (DPR) is presently -276.92%.

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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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Earnings History and Estimates for Independence Realty Trust (NYSE:IRT)

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