Independence Realty Trust (NYSE:IRT) Updates FY 2020 After-Hours Earnings Guidance
Independence Realty Trust (NYSE:IRT) issued an update on its FY 2020
After-Hours earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.79-0.82 for the period.
IRT traded down $0.06 during trading on Friday, hitting $16.44. 602,374 shares of the stock traded hands, compared to its average volume of 482,877. Independence Realty Trust has a twelve month low of $9.91 and a twelve month high of $16.85. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 41.10 and a beta of 0.76. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.50 and a quick ratio of 0.50. The business has a 50 day moving average price of $14.60 and a 200 day moving average price of $14.29.
Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.26 EPS for the quarter, beating the consensus estimate of $0.09 by $0.17. Independence Realty Trust had a net margin of 18.23% and a return on equity of 5.97%. The business had revenue of $51.43 million during the quarter, compared to the consensus estimate of $52.28 million. On average, equities research analysts predict that Independence Realty Trust will post 0.72 earnings per share for the current year.
IRT has been the subject of several research analyst reports. TheStreet downgraded shares of Independence Realty Trust from a b- rating to a c+ rating in a research report on Friday, November 8th. Compass Point downgraded shares of Independence Realty Trust from a buy rating to a neutral rating in a research report on Thursday, October 31st. JMP Securities downgraded shares of Independence Realty Trust from an outperform rating to a market perform rating and set a $12.00 price objective for the company. in a research report on Monday, October 21st. Finally, Zacks Investment Research downgraded shares of Independence Realty Trust from a buy rating to a hold rating in a research report on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Independence Realty Trust presently has a consensus rating of Hold and an average target price of $12.80.
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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