Independence Realty Trust (NYSE:IRT) Issues FY 2024 Earnings Guidance

Independence Realty Trust (NYSE:IRT) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.120-1.160 for the period, compared to the consensus EPS estimate of 1.140. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IRT. Royal Bank of Canada boosted their price objective on Independence Realty Trust from $16.00 to $17.00 and gave the company an outperform rating in a research report on Friday, February 16th. TheStreet cut Independence Realty Trust from a c rating to a d+ rating in a research report on Friday, March 1st. Barclays lowered their price target on Independence Realty Trust from $22.00 to $18.00 and set an overweight rating on the stock in a research report on Tuesday, February 20th. JMP Securities upped their price target on Independence Realty Trust from $15.00 to $17.00 and gave the company a market outperform rating in a research report on Wednesday, March 6th. 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 target price on the stock. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $17.00.

Independence Realty Trust Stock Performance

Shares of IRT traded up $0.20 during mid-day trading on Friday, reaching $15.86. The company’s stock had a trading volume of 1,768,704 shares, compared to its average volume of 2,330,950. Independence Realty Trust has a 1-year low of $11.61 and a 1-year high of $18.77. The business has a 50-day simple moving average of $15.66 and a two-hundred day simple moving average of $14.78.

Independence Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, March 29th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.64 annualized dividend and a yield of 4.04%. Independence Realty Trust’s payout ratio is currently -2,132.62%.

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.