Independence Realty Trust, Inc. (IRT) To Go Ex-Dividend on March 27th

Independence Realty Trust, Inc. (NYSE:IRT) declared a quarterly dividend on Monday, March 9th. Investors of record on Friday, March 27th will be paid a dividend of 0.17 per share by the real estate investment trust on Friday, April 17th. This represents a c) annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, March 27th.

Independence Realty Trust has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Independence Realty Trust has a payout ratio of 234.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Independence Realty Trust to earn $1.27 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 53.5%.

Independence Realty Trust Stock Performance

Shares of IRT opened at $16.25 on Wednesday. Independence Realty Trust has a 52 week low of $15.06 and a 52 week high of $21.56. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 67.71, a PEG ratio of 2.06 and a beta of 0.99. The business’s fifty day moving average price is $16.80 and its two-hundred day moving average price is $16.80.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $167.13 million during the quarter, compared to analysts’ expectations of $170.26 million. Independence Realty Trust had a return on equity of 1.58% and a net margin of 8.60%.Independence Realty Trust’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. As a group, research analysts forecast that Independence Realty Trust will post 1.19 EPS for the current year.

Independence Realty Trust Company Profile

Independence Realty Trust is a self-administered equity real estate investment trust that acquires, redevelops and manages multi-family communities. The company focuses on workforce housing, targeting Class A and B garden-style apartments in suburban and urban infill locations. Its core activities include sourcing value-add acquisitions, overseeing property renovations and delivering in-house property management services to optimize rental income and occupancy levels.

Headquartered in Wayne, Pennsylvania, Independence Realty Trust maintains a geographically diverse portfolio across several high-growth U.S.