$0.19 EPS Expected for Independence Realty Trust, Inc. (IRT) This Quarter

Wall Street analysts forecast that Independence Realty Trust, Inc. (NYSE:IRT) will report earnings per share of $0.19 for the current quarter, according to Zacks. Four analysts have made estimates for Independence Realty Trust’s earnings. The highest EPS estimate is $0.19 and the lowest is $0.18. Independence Realty Trust reported earnings per share of $0.05 in the same quarter last year, which suggests a positive year over year growth rate of 280%. The company is expected to announce its next earnings report on Friday, October 27th.

According to Zacks, analysts expect that Independence Realty Trust will report full-year earnings of $0.75 per share for the current year, with EPS estimates ranging from $0.74 to $0.76. For the next fiscal year, analysts expect that the firm will post earnings of $0.78 per share, with EPS estimates ranging from $0.74 to $0.80. Zacks’ EPS averages are an average based on a survey of analysts that cover Independence Realty Trust.

Independence Realty Trust (NYSE:IRT) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $39.43 million during the quarter, compared to analysts’ expectations of $39.43 million. Independence Realty Trust had a negative return on equity of 3.22% and a negative net margin of 10.28%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share.

A number of brokerages have weighed in on IRT. Zacks Investment Research lowered Independence Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. FBR & Co restated an “outperform” rating and set a $10.75 price objective on shares of Independence Realty Trust in a research note on Tuesday, July 11th. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Independence Realty Trust in a research note on Wednesday, August 2nd. ValuEngine downgraded Independence Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Finally, BidaskClub raised Independence Realty Trust from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $10.71.

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Independence Realty Trust (IRT) traded up 1.37% during midday trading on Wednesday, reaching $10.33. The company had a trading volume of 1,693,977 shares. The firm’s 50-day moving average price is $10.13 and its 200 day moving average price is $9.63. The firm’s market capitalization is $711.19 million. Independence Realty Trust has a 12 month low of $7.74 and a 12 month high of $10.70.

The business also recently declared a monthly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were issued a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 6.97%. The ex-dividend date was Thursday, July 27th. Independence Realty Trust’s dividend payout ratio (DPR) is -313.03%.

In related news, CEO Scott Schaeffer purchased 35,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were acquired at an average price of $10.12 per share, with a total value of $354,200.00. Following the acquisition, the chief executive officer now owns 155,306 shares in the company, valued at approximately $1,571,696.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.58% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC lifted its holdings in shares of Independence Realty Trust by 0.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 69,887 shares of the real estate investment trust’s stock worth $655,000 after purchasing an additional 261 shares during the last quarter. UBS Group AG lifted its holdings in shares of Independence Realty Trust by 0.6% in the 1st quarter. UBS Group AG now owns 67,706 shares of the real estate investment trust’s stock worth $634,000 after purchasing an additional 384 shares during the last quarter. Kissinger Financial Services LLC lifted its holdings in shares of Independence Realty Trust by 1.0% in the 2nd quarter. Kissinger Financial Services LLC now owns 94,825 shares of the real estate investment trust’s stock worth $936,000 after purchasing an additional 925 shares during the last quarter. Bard Associates Inc. lifted its holdings in shares of Independence Realty Trust by 0.5% in the 2nd quarter. Bard Associates Inc. now owns 189,725 shares of the real estate investment trust’s stock worth $1,873,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Independence Realty Trust by 10.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 14,400 shares of the real estate investment trust’s stock worth $142,000 after purchasing an additional 1,400 shares during the last quarter. 74.82% of the stock is currently owned by institutional investors and hedge funds.

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.

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