Independence Realty Trust (NYSE:IRT) Updates FY33 Earnings Guidance

Independence Realty Trust (NYSE:IRT) updated its FY33 earnings guidance on Wednesday. The company provided EPS guidance of $1.155-$1.165 for the period.

Independence Realty Trust Stock Performance

Shares of NYSE:IRT traded up $0.05 during trading on Wednesday, hitting $19.76. The company’s stock had a trading volume of 2,485,506 shares, compared to its average volume of 2,266,688. The company has a market capitalization of $4.45 billion, a PE ratio of -657.00, a PEG ratio of 2.84 and a beta of 1.17. Independence Realty Trust has a fifty-two week low of $11.61 and a fifty-two week high of $21.20. The stock’s 50-day moving average price is $20.13 and its two-hundred day moving average price is $18.60.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Monday, September 30th. Independence Realty Trust’s dividend payout ratio (DPR) is currently -2,133.33%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IRT. JMP Securities upped their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Monday, September 9th. BTIG Research increased their price target on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft lifted their price target on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, KeyCorp increased their target price on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Independence Realty Trust currently has an average rating of “Moderate Buy” and a consensus price target of $19.57.

About Independence Realty Trust

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.