Independence Realty Trust (IRT) to Release Earnings on Wednesday

Independence Realty Trust (NYSE:IRT) is scheduled to post its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect Independence Realty Trust to post earnings of $0.28 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Independence Realty Trust Price Performance

IRT stock opened at $15.68 on Wednesday. The business has a 50 day simple moving average of $15.53 and a 200-day simple moving average of $14.69. The firm has a market capitalization of $3.53 billion, a PE ratio of -223.90, a price-to-earnings-growth ratio of 2.34 and a beta of 1.07. Independence Realty Trust has a 1 year low of $11.61 and a 1 year high of $18.77.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, March 29th will be given a $0.16 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.64 annualized dividend and a yield of 4.08%. Independence Realty Trust’s payout ratio is -914.16%.

Hedge Funds Weigh In On Independence Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in IRT. Ethic Inc. acquired a new stake in shares of Independence Realty Trust during the 1st quarter valued at approximately $217,000. MML Investors Services LLC grew its stake in shares of Independence Realty Trust by 14.1% during the 1st quarter. MML Investors Services LLC now owns 13,300 shares of the real estate investment trust’s stock valued at $213,000 after buying an additional 1,641 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Independence Realty Trust by 87.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,271 shares of the real estate investment trust’s stock valued at $205,000 after buying an additional 5,266 shares during the period. Toroso Investments LLC purchased a new stake in shares of Independence Realty Trust during the 3rd quarter valued at $203,000. Finally, Profund Advisors LLC boosted its position in Independence Realty Trust by 8.0% during the 4th quarter. Profund Advisors LLC now owns 11,721 shares of the real estate investment trust’s stock worth $179,000 after purchasing an additional 871 shares during the period. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

IRT has been the subject of several analyst reports. JMP Securities increased their price objective on Independence Realty Trust from $15.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Wednesday, March 6th. Barclays lowered their price target on Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. Royal Bank of Canada raised their price target on Independence Realty Trust from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. TheStreet lowered Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Independence Realty Trust in a research report on Tuesday, January 30th. They set a “buy” rating and a $18.00 price target for the company. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, Independence Realty Trust currently has an average rating of “Hold” and an average price target 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.