Independence Realty Trust, Inc. (NYSE:IRT – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $19.7222.
A number of analysts recently issued reports on IRT shares. Wall Street Zen raised shares of Independence Realty Trust from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Citigroup reaffirmed a “market outperform” rating on shares of Independence Realty Trust in a research report on Thursday, September 10th. Barclays upgraded Independence Realty Trust from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $19.00 to $20.00 in a report on Tuesday, July 14th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a research report on Thursday, September 10th.
View Our Latest Analysis on IRT
Independence Realty Trust Price Performance
Independence Realty Trust (NYSE:IRT – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.26). The company had revenue of $167.24 million for the quarter, compared to analysts’ expectations of $166.93 million. Independence Realty Trust had a net margin of 6.52% and a return on equity of 1.22%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. Analysts expect that Independence Realty Trust will post 1.14 earnings per share for the current fiscal year.
Independence Realty Trust Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.18 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.72 annualized dividend and a dividend yield of 4.9%. Independence Realty Trust’s dividend payout ratio (DPR) is currently 400.00%.
Hedge Funds Weigh In On Independence Realty Trust
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Independence Realty Trust during the 2nd quarter valued at $601,975,000. Geode Capital Management LLC boosted its stake in Independence Realty Trust by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 6,445,967 shares of the real estate investment trust’s stock valued at $112,690,000 after buying an additional 148,449 shares in the last quarter. Engineers Gate Manager LP boosted its position in shares of Independence Realty Trust by 16,719.4% during the 4th quarter. Engineers Gate Manager LP now owns 4,299,707 shares of the real estate investment trust’s stock valued at $75,159,000 after purchasing an additional 4,274,143 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Independence Realty Trust by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,473,797 shares of the real estate investment trust’s stock valued at $51,725,000 after purchasing an additional 134,364 shares in the last quarter. Finally, Rush Island Management LP acquired a new position in shares of Independence Realty Trust in the 1st quarter worth approximately $51,462,000. 88.25% of the stock is owned by institutional investors.
Independence Realty Trust Company Profile
Independence Realty Trust, Inc is a self-administered and self-managed real estate investment trust that owns, operates and acquires multifamily apartment communities. The company generates revenue primarily from residential rents and related fees, while focusing on providing housing in markets with favorable population and employment trends.
Independence Realty Trust’s portfolio is concentrated primarily in the Sun Belt and other high-growth regions of the United States. Its communities serve a range of renters and typically include amenities such as swimming pools, fitness centers, clubhouses and outdoor recreation areas.
Featured Stories
- Five stocks we like better than Independence Realty Trust
- J.B. Hunt’s Stock Plunges After Market Misprices Profit Warning
- 2 Stocks Breaking Out Post-FOMC With One Thing in Common
- Lennar’s Q3 Miss Hides a Stronger Operating Story Beneath the Housing Slump
- These 3 Stocks Are Drawing Insider Buyers for Very Different Reasons
Receive News & Ratings for Independence Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independence Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.
