Analysts expect Independence Realty Trust (NYSE:IRT) to post $0.18 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have issued estimates for Independence Realty Trust’s earnings. The lowest EPS estimate is $0.17 and the highest is $0.19. Independence Realty Trust also posted earnings per share of $0.18 during the same quarter last year. The business is expected to report its next earnings results on Tuesday, May 1st.
On average, analysts expect that Independence Realty Trust will report full-year earnings of $0.75 per share for the current fiscal year, with EPS estimates ranging from $0.72 to $0.78. For the next fiscal year, analysts forecast that the company will report earnings of $0.81 per share, with EPS estimates ranging from $0.75 to $0.89. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Independence Realty Trust.
Independence Realty Trust (NYSE:IRT) last issued its earnings results on Tuesday, February 20th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Independence Realty Trust had a net margin of 18.80% and a return on equity of 5.17%. The firm had revenue of $42.31 million during the quarter, compared to analysts’ expectations of $43.59 million. During the same quarter last year, the firm earned $0.17 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year.
NYSE IRT traded up $0.02 on Friday, reaching $9.47. The stock had a trading volume of 407,012 shares, compared to its average volume of 652,727. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.43 and a quick ratio of 0.43. Independence Realty Trust has a 1 year low of $8.26 and a 1 year high of $10.63. The company has a market capitalization of $811.39, a P/E ratio of 13.00 and a beta of 0.86.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 20th. Shareholders of record on Wednesday, April 4th will be paid a $0.18 dividend. The ex-dividend date is Tuesday, April 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 7.60%. Independence Realty Trust’s dividend payout ratio (DPR) is currently 295.89%.
In related news, CEO Scott Schaeffer purchased 15,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was bought at an average price of $8.33 per share, for a total transaction of $124,950.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.61% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Independence Realty Trust by 11.0% during the 4th quarter. BlackRock Inc. now owns 12,188,828 shares of the real estate investment trust’s stock worth $122,984,000 after acquiring an additional 1,206,269 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Independence Realty Trust by 25.9% during the 4th quarter. Jennison Associates LLC now owns 1,573,435 shares of the real estate investment trust’s stock worth $15,876,000 after acquiring an additional 323,435 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Independence Realty Trust by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,327,132 shares of the real estate investment trust’s stock worth $13,390,000 after acquiring an additional 15,423 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Independence Realty Trust by 0.8% during the 4th quarter. Raymond James & Associates now owns 1,071,858 shares of the real estate investment trust’s stock worth $10,815,000 after acquiring an additional 8,386 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Independence Realty Trust by 121.7% during the 4th quarter. Renaissance Technologies LLC now owns 994,095 shares of the real estate investment trust’s stock worth $10,030,000 after acquiring an additional 545,700 shares in the last quarter. Institutional investors own 79.85% of the company’s stock.
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Independence Realty Trust Company Profile
Independence Realty Trust (NYSE: IRT) is a real estate investment trust that owns and operates 55 multifamily apartment properties, totaling 15,045 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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