Independence Realty Trust (IRT) to Release Earnings on Wednesday

Independence Realty Trust (NYSE:IRTGet Free Report) is set to announce its earnings results after the market closes on Wednesday, February 14th. Analysts expect the company to announce earnings of $0.30 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Independence Realty Trust Trading Up 0.8 %

Shares of IRT stock opened at $14.87 on Wednesday. Independence Realty Trust has a 1-year low of $11.61 and a 1-year high of $19.53. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 57.19 and a beta of 1.07. The stock’s fifty day simple moving average is $15.01 and its 200-day simple moving average is $14.89.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, December 29th were given a dividend of $0.16 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.64 dividend on an annualized basis and a yield of 4.30%. Independence Realty Trust’s payout ratio is 246.16%.

Institutional Trading of Independence Realty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. boosted its position in Independence Realty Trust by 58.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 59,048 shares of the real estate investment trust’s stock valued at $1,561,000 after acquiring an additional 21,858 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Independence Realty Trust by 174.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 19,091 shares of the real estate investment trust’s stock worth $504,000 after purchasing an additional 12,126 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Independence Realty Trust by 104.2% during the 1st quarter. Bank of Montreal Can now owns 190,015 shares of the real estate investment trust’s stock worth $5,102,000 after purchasing an additional 96,945 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Independence Realty Trust by 219.8% in the 1st quarter. MetLife Investment Management LLC now owns 116,831 shares of the real estate investment trust’s stock worth $3,089,000 after buying an additional 80,293 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Independence Realty Trust by 105.9% in the 1st quarter. Rhumbline Advisers now owns 621,639 shares of the real estate investment trust’s stock worth $16,436,000 after buying an additional 319,772 shares during the period. 85.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IRT has been the subject of several recent analyst reports. JMP Securities decreased their price target on Independence Realty Trust from $20.00 to $15.00 and set a “market outperform” rating for the company in a research note on Wednesday, November 1st. Royal Bank of Canada cut their price target on Independence Realty Trust from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, November 1st. BMO Capital Markets reissued an “underperform” rating and issued a $15.00 target price (up from $14.00) on shares of Independence Realty Trust in a report on Friday, December 15th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Independence Realty Trust in a report on Tuesday, January 30th. They set a “buy” rating and a $18.00 price target for the company. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.83.

Get Our Latest Stock Report on IRT

Independence Realty Trust Company Profile

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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.

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Earnings History for Independence Realty Trust (NYSE:IRT)

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