Equities research analysts expect that Independence Realty Trust, Inc. (NYSE:IRT) will announce earnings of $0.18 per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Independence Realty Trust’s earnings. The highest EPS estimate is $0.19 and the lowest is $0.16. Independence Realty Trust reported earnings per share of ($0.61) in the same quarter last year, which suggests a positive year-over-year growth rate of 129.5%. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 15th.

On average, analysts expect that Independence Realty Trust will report full year earnings of $0.74 per share for the current year, with EPS estimates ranging from $0.73 to $0.74. For the next year, analysts expect that the business will report earnings of $0.79 per share, with EPS estimates ranging from $0.74 to $0.81. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Independence Realty Trust.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.11. The company had revenue of $39.86 million for the quarter, compared to analyst estimates of $40.38 million. Independence Realty Trust had a negative net margin of 10.91% and a negative return on equity of 3.08%. Independence Realty Trust’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 earnings per share.

Several equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub lowered shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Independence Realty Trust in a report on Wednesday, November 1st. FBR & Co restated a “buy” rating and issued a $11.50 target price on shares of Independence Realty Trust in a report on Tuesday, September 12th. Finally, ValuEngine upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Independence Realty Trust currently has a consensus rating of “Buy” and an average target price of $11.00.

Shares of Independence Realty Trust (NYSE IRT) traded up $0.02 during trading hours on Thursday, hitting $10.20. 895,733 shares of the stock were exchanged, compared to its average volume of 616,777. The firm has a market capitalization of $852.72, a price-to-earnings ratio of 14.23 and a beta of 1.08. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. Independence Realty Trust has a 52 week low of $8.06 and a 52 week high of $10.63.

The business also recently disclosed a monthly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.72 annualized dividend and a dividend yield of 7.06%. Independence Realty Trust’s dividend payout ratio is currently -276.92%.

COPYRIGHT VIOLATION WARNING: This report was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this report on another website, it was copied illegally and republished in violation of U.S. and international copyright and trademark law. The original version of this report can be accessed at https://www.thecerbatgem.com/2017/11/07/independence-realty-trust-inc-irt-expected-to-post-earnings-of-0-18-per-share.html.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Independence Realty Trust during the third quarter valued at about $156,000. Russell Investments Group Ltd. raised its holdings in shares of Independence Realty Trust by 18.2% during the third quarter. Russell Investments Group Ltd. now owns 669,487 shares of the real estate investment trust’s stock valued at $6,808,000 after purchasing an additional 102,976 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Independence Realty Trust by 32.5% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 78,032 shares of the real estate investment trust’s stock valued at $794,000 after purchasing an additional 19,142 shares during the period. Comerica Bank raised its holdings in shares of Independence Realty Trust by 37.1% during the third quarter. Comerica Bank now owns 85,420 shares of the real estate investment trust’s stock valued at $873,000 after purchasing an additional 23,095 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Independence Realty Trust by 9.2% during the third quarter. Bank of New York Mellon Corp now owns 1,311,709 shares of the real estate investment trust’s stock valued at $13,340,000 after purchasing an additional 110,394 shares during the period. Hedge funds and other institutional investors own 62.11% of the company’s stock.

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.

Get a free copy of the Zacks research report on Independence Realty Trust (IRT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Independence Realty Trust (NYSE:IRT)

Receive News & Stock Ratings for Independence Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independence Realty Trust Inc. and related stocks with our FREE daily email newsletter.