Independence Realty Trust (NYSE:IRT) Issues FY 2024 Earnings Guidance

Independence Realty Trust (NYSE:IRT) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.120-1.160 for the period, compared to the consensus EPS estimate of 1.140. The company issued revenue guidance of -.

Independence Realty Trust Stock Down 0.8 %

Independence Realty Trust stock traded down $0.13 during mid-day trading on Thursday, reaching $15.63. 1,553,683 shares of the company’s stock were exchanged, compared to its average volume of 2,297,004. The company has a market cap of $3.52 billion, a P/E ratio of -222.54, a P/E/G ratio of 2.29 and a beta of 1.07. Independence Realty Trust has a twelve month low of $11.61 and a twelve month high of $18.77. The company has a fifty day moving average of $15.65 and a 200-day moving average of $14.77.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, March 29th were issued a $0.16 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.09%. Independence Realty Trust’s payout ratio is -914.16%.

Analysts Set New Price Targets

IRT has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Independence Realty Trust in a report on Tuesday, January 30th. They issued a buy rating and a $18.00 price objective on the stock. Royal Bank of Canada lifted their price target on shares of Independence Realty Trust from $16.00 to $17.00 and gave the stock an outperform rating in a research note on Friday, February 16th. JMP Securities lifted their price target on shares of Independence Realty Trust from $15.00 to $17.00 and gave the stock a market outperform rating in a research note on Wednesday, March 6th. TheStreet downgraded shares of Independence Realty Trust from a c rating to a d+ rating in a research report on Friday, March 1st. Finally, Barclays decreased their price objective on shares of Independence Realty Trust from $22.00 to $18.00 and set an overweight rating on the stock in a report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $17.00.

Independence Realty Trust Company Profile

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL.