Wall Street 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 Investment Research. Seven analysts have issued estimates for Independence Realty Trust’s earnings. The highest EPS estimate is $0.19 and the lowest is $0.17. Independence Realty Trust also reported earnings of $0.18 per share during the same quarter last year. The company is scheduled to issue its next earnings results after the market closes on Wednesday, May 1st.

On average, analysts expect that Independence Realty Trust will report full year earnings of $0.76 per share for the current fiscal year, with EPS estimates ranging from $0.75 to $0.77. For the next financial year, analysts expect that the firm will report earnings of $0.80 per share, with EPS estimates ranging from $0.77 to $0.82. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Independence Realty Trust.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data on Thursday, February 21st. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.15). Independence Realty Trust had a net margin of 13.77% and a return on equity of 4.16%. The business had revenue of $49.72 million for the quarter, compared to the consensus estimate of $48.81 million.

Several research analysts have recently issued reports on the stock. TheStreet cut shares of Independence Realty Trust from a “b-” rating to a “c+” rating in a report on Monday, April 8th. Zacks Investment Research cut shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, February 27th. Boenning Scattergood reissued a “buy” rating on shares of Independence Realty Trust in a research note on Friday, February 22nd. ValuEngine lowered shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Finally, Stifel Nicolaus initiated coverage on shares of Independence Realty Trust in a research note on Monday, April 8th. They set a “hold” rating and a $11.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Independence Realty Trust currently has a consensus rating of “Hold” and a consensus target price of $10.95.

NYSE IRT traded up $0.13 on Wednesday, hitting $10.47. The stock had a trading volume of 313,401 shares, compared to its average volume of 496,735. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 1.56. The stock has a market cap of $908.32 million, a price-to-earnings ratio of 14.17 and a beta of 0.92. Independence Realty Trust has a one year low of $8.75 and a one year high of $10.94.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Friday, March 29th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 6.88%. The ex-dividend date is Thursday, March 28th. Independence Realty Trust’s dividend payout ratio is presently 97.30%.

In related news, Director Richard H. Ross sold 6,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $10.33, for a total transaction of $61,980.00. Following the completion of the sale, the director now directly owns 27,369 shares of the company’s stock, valued at $282,721.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.69% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Ruggie Capital Group purchased a new stake in shares of Independence Realty Trust in the 4th quarter valued at approximately $28,000. Oregon Public Employees Retirement Fund purchased a new stake in shares of Independence Realty Trust in the 4th quarter valued at approximately $34,000. Bronfman E.L. Rothschild L.P. purchased a new stake in shares of Independence Realty Trust in the 4th quarter valued at approximately $37,000. Bessemer Group Inc. purchased a new stake in shares of Independence Realty Trust in the 4th quarter valued at approximately $42,000. Finally, Loeb Partners Corp purchased a new stake in shares of Independence Realty Trust in the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 86.33% of the company’s stock.

About Independence Realty Trust

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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