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.

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Thursday, December 26th were given a dividend of $0.18 per share. This is an increase from Independence Realty Trust’s previous quarterly dividend of $0.06. This represents a $0.72 annualized dividend and a yield of 4.38%. The ex-dividend date was Tuesday, December 24th. Independence Realty Trust’s payout ratio is currently 97.30%.

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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