Independence Realty Trust (NYSE:IRT) is set to issue its quarterly earnings data before the market opens on Thursday, February 21st. Analysts expect the company to announce earnings of $0.19 per share for the quarter.
NYSE:IRT opened at $10.50 on Thursday. Independence Realty Trust has a 52 week low of $8.26 and a 52 week high of $10.59. The stock has a market cap of $931.00 million, a P/E ratio of 14.38 and a beta of 0.93. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.24 and a current ratio of 0.24.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 24th. Investors of record on Thursday, December 27th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 6.86%. The ex-dividend date was Wednesday, December 26th. Independence Realty Trust’s dividend payout ratio is 98.63%.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Independence Realty Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. Compass Point downgraded shares of Independence Realty Trust from a “buy” rating to a “neutral” rating in a research note on Friday, November 2nd. Boenning Scattergood set a $11.00 price objective on shares of Independence Realty Trust and gave the stock a “buy” rating in a research note on Friday, November 2nd. B. Riley reduced their price objective on shares of Independence Realty Trust from $11.00 to $10.50 and set a “buy” rating on the stock in a research note on Monday, November 5th. Finally, Capital One Financial assumed coverage on shares of Independence Realty Trust in a research note on Monday, November 19th. They set an “equal weight” rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.75.
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Independence Realty Trust Company Profile
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.
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