Favorable News Coverage Likely to Impact Independence Realty Trust (IRT) Share Price

News headlines about Independence Realty Trust (NYSE:IRT) have been trending positive recently, Alpha One Sentiment reports. The research group, a service of Accern, identifies negative and positive press coverage by analyzing more than 20 million blog and news sources. Alpha One ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Independence Realty Trust earned a media sentiment score of 0.36 on Alpha One’s scale. Alpha One also gave media headlines about the real estate investment trust an impact score of 67 out of 100, indicating that recent press coverage is likely to have an impact on the stock’s share price in the next several days.

Here are some of the media headlines that may have effected AlphaOne’s analysis:

Separately, Zacks Investment Research lowered shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $9.88.

Independence Realty Trust (NYSE:IRT) opened at 9.16 on Friday. The firm has a 50-day moving average of $9.23 and a 200-day moving average of $9.00. Independence Realty Trust has a 1-year low of $7.37 and a 1-year high of $10.70.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $38.90 million for the quarter, compared to analysts’ expectations of $38.53 million. During the same quarter last year, the business earned $0.21 earnings per share. Equities analysts anticipate that Independence Realty Trust will post $0.32 earnings per share for the current year.

The company also recently announced a monthly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 7.89%. The ex-dividend date is Friday, May 26th.

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About Independence Realty Trust

Independence Realty Trust, Inc is an internally-managed real estate investment trust (REIT). The Company is engaged in the business of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of real estate assets. The Company owns apartment properties in geographic non-gateway markets.

12 Month Chart for NYSE:IRT

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