Zacks: Analysts Anticipate Independence Realty Trust Inc (NYSE:IRT) to Announce $0.20 Earnings Per Share

Brokerages expect Independence Realty Trust Inc (NYSE:IRT) to report $0.20 earnings per share (EPS) for the current quarter, according to Zacks. Seven analysts have provided estimates for Independence Realty Trust’s earnings. The lowest EPS estimate is $0.19 and the highest is $0.20. Independence Realty Trust posted earnings of $0.19 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 5.3%. The business is expected to issue its next earnings report on Thursday, February 20th.

According to Zacks, analysts expect that Independence Realty Trust will report full-year earnings of $0.75 per share for the current fiscal year, with EPS estimates ranging from $0.75 to $0.76. For the next fiscal year, analysts expect that the firm will post earnings of $0.82 per share, with EPS estimates ranging from $0.78 to $0.83. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Independence Realty Trust.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $51.30 million during the quarter, compared to analysts’ expectations of $51.69 million. Independence Realty Trust had a net margin of 18.23% and a return on equity of 5.97%.

IRT has been the topic of a number of research reports. National Securities initiated coverage on Independence Realty Trust in a research note on Friday, September 27th. They set a “buy” rating and a $14.00 price target on the stock. ValuEngine cut Independence Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. JMP Securities downgraded Independence Realty Trust from an “outperform” rating to a “market perform” rating and set a $12.00 price objective on the stock. in a report on Monday, October 21st. Zacks Investment Research raised Independence Realty Trust from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Thursday, January 2nd. Finally, TheStreet cut Independence Realty Trust from a “b-” rating to a “c+” rating in a report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $12.42.

A number of large investors have recently added to or reduced their stakes in the stock. Simplex Trading LLC purchased a new stake in Independence Realty Trust during the 3rd quarter worth about $45,000. Tower Research Capital LLC TRC purchased a new position in shares of Independence Realty Trust in the 2nd quarter valued at about $56,000. Bank of Montreal Can boosted its stake in shares of Independence Realty Trust by 684.4% in the 2nd quarter. Bank of Montreal Can now owns 8,730 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 7,617 shares during the period. Commonwealth Equity Services LLC acquired a new position in shares of Independence Realty Trust during the third quarter worth about $200,000. Finally, Bailard Inc. acquired a new position in shares of Independence Realty Trust during the third quarter worth about $202,000. Hedge funds and other institutional investors own 87.16% of the company’s stock.

Independence Realty Trust stock opened at $14.81 on Thursday. The company has a market capitalization of $1.32 billion, a PE ratio of 19.43 and a beta of 0.74. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.50 and a current ratio of 0.50. Independence Realty Trust has a fifty-two week low of $9.91 and a fifty-two week high of $15.89. The firm has a 50 day moving average price of $14.21 and a 200 day moving average price of $13.87.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Thursday, December 26th will be paid 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 4.86%. The ex-dividend date is Tuesday, December 24th. Independence Realty Trust’s dividend payout ratio is presently 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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