Analysts Anticipate Independence Realty Trust Inc (NYSE:IRT) Will Announce Earnings of $0.19 Per Share
Equities research analysts expect Independence Realty Trust Inc (NYSE:IRT) to announce earnings of $0.19 per share for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Independence Realty Trust’s earnings, with the highest EPS estimate coming in at $0.20 and the lowest estimate coming in at $0.19. Independence Realty Trust also reported earnings of $0.19 per share during the same quarter last year. The company is scheduled to announce its next earnings report on Thursday, November 7th.
On average, analysts expect that Independence Realty Trust will report full year earnings of $0.76 per share for the current year, with EPS estimates ranging from $0.75 to $0.77. For the next year, analysts anticipate that the business will post earnings of $0.81 per share, with EPS estimates ranging from $0.79 to $0.83. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Independence Realty Trust.
Independence Realty Trust (NYSE:IRT) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.03). The business had revenue of $50.85 million during the quarter, compared to analyst estimates of $50.17 million. Independence Realty Trust had a net margin of 18.42% and a return on equity of 5.88%.
In other Independence Realty Trust news, Director Richard H. Ross sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $13.28, for a total value of $53,120.00. Following the completion of the sale, the director now owns 28,843 shares in the company, valued at $383,035.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.69% of the company’s stock.
A number of hedge funds have recently made changes to their positions in IRT. Sandy Spring Bank purchased a new stake in shares of Independence Realty Trust in the first quarter worth $42,000. Tower Research Capital LLC TRC bought a new position in Independence Realty Trust in the second quarter valued at about $56,000. Bank of Montreal Can lifted its holdings in Independence Realty Trust by 684.4% in the second quarter. Bank of Montreal Can now owns 8,730 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 7,617 shares during the period. Pictet Asset Management Ltd. bought a new position in Independence Realty Trust in the first quarter valued at about $158,000. Finally, Natixis Advisors L.P. bought a new position in shares of Independence Realty Trust in the second quarter worth about $201,000. Hedge funds and other institutional investors own 85.74% of the company’s stock.
Shares of IRT stock traded up $0.37 on Friday, reaching $13.25. The company had a trading volume of 14,698 shares, compared to its average volume of 582,450. The firm has a market capitalization of $1.17 billion, a PE ratio of 17.85 and a beta of 0.82. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.60 and a quick ratio of 0.60. Independence Realty Trust has a one year low of $8.75 and a one year high of $13.37. The firm has a 50-day simple moving average of $12.24.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Friday, June 28th were given a $0.18 dividend. The ex-dividend date was Thursday, June 27th. This represents a $0.72 annualized dividend and a yield of 5.43%. Independence Realty Trust’s payout ratio is currently 97.30%.
Independence Realty Trust Company Profile
Independence Realty Trust (NYSE: IRT) is a real estate investment trust that currently owns and operates 58 multifamily apartment properties, totaling 15,880 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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