Independence Realty Trust (NYSE:IRT) Releases FY 2024 Earnings Guidance

Independence Realty Trust (NYSE:IRT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.120-1.160 for the period, compared to the consensus estimate of 1.140. The company issued revenue guidance of -.

Independence Realty Trust Trading Up 0.5 %

Shares of NYSE:IRT traded up $0.08 on Wednesday, hitting $15.75. 3,402,340 shares of the company were exchanged, compared to its average volume of 2,307,998. Independence Realty Trust has a 1-year low of $11.61 and a 1-year high of $18.77. The stock’s 50 day moving average price is $15.65 and its 200 day moving average price is $14.77. The firm has a market capitalization of $3.55 billion, a P/E ratio of -224.97, a price-to-earnings-growth ratio of 2.31 and a beta of 1.07.

Independence Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, March 29th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.64 annualized dividend and a dividend yield of 4.06%. Independence Realty Trust’s payout ratio is currently -914.16%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JMP Securities boosted their target price on shares of Independence Realty Trust from $15.00 to $17.00 and gave the company a market outperform rating in a research report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Independence Realty Trust in a research report on Tuesday, January 30th. They set a buy rating and a $18.00 target price for the company. Royal Bank of Canada lifted their price objective on shares of Independence Realty Trust from $16.00 to $17.00 and gave the company an outperform rating in a report on Friday, February 16th. TheStreet cut shares of Independence Realty Trust from a c rating to a d+ rating in a report on Friday, March 1st. Finally, Barclays cut their price objective on shares of Independence Realty Trust from $22.00 to $18.00 and set an overweight rating for the company in a report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $17.00.

About Independence Realty Trust

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL.