Independence Realty Trust (NYSE:IRT – Get Free Report) released its earnings results on Monday. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.26), FiscalAI reports. Independence Realty Trust had a net margin of 6.52% and a return on equity of 1.22%. The company had revenue of $167.24 million during the quarter, compared to analyst estimates of $166.93 million. During the same period in the previous year, the firm posted $0.28 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Independence Realty Trust updated its FY 2026 guidance to 1.130-1.150 EPS.
Independence Realty Trust Trading Up 1.5%
IRT stock opened at $17.01 on Wednesday. The firm has a 50 day moving average of $16.61 and a 200-day moving average of $16.33. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 85.06 and a beta of 0.94. Independence Realty Trust has a 12-month low of $14.60 and a 12-month high of $18.18.
Independence Realty Trust Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, June 26th. This is a positive change from Independence Realty Trust’s previous quarterly dividend of $0.17. Independence Realty Trust’s payout ratio is 360.00%.
Hedge Funds Weigh In On Independence Realty Trust
Analyst Ratings Changes
A number of brokerages have commented on IRT. Jefferies Financial Group upgraded shares of Independence Realty Trust to a “strong-buy” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company lifted their price objective on Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, June 1st. UBS Group cut their target price on Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Wall Street Zen downgraded Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings raised Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Independence Realty Trust has an average rating of “Moderate Buy” and a consensus price target of $19.64.
Get Our Latest Stock Analysis on Independence Realty Trust
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.
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