Independence Realty Trust, Inc. (NYSE:IRT) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.73-0.76 for the period, compared to the Thomson Reuters consensus estimate of $0.74.
A number of research analysts recently weighed in on the company. Zacks Investment Research lowered Independence Realty Trust from a buy rating to a hold rating in a research report on Thursday, August 24th. Ladenburg Thalmann Financial Services reissued a buy rating on shares of Independence Realty Trust in a report on Wednesday. ValuEngine raised Independence Realty Trust from a hold rating to a buy rating in a report on Friday, September 1st. FBR & Co reissued an outperform rating and issued a $10.75 target price on shares of Independence Realty Trust in a report on Tuesday, July 11th. Finally, Robert W. Baird reissued a buy rating and issued a $11.00 target price on shares of Independence Realty Trust in a report on Tuesday, October 17th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $11.00.
Independence Realty Trust (NYSE:IRT) last released its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.11. Independence Realty Trust had a negative return on equity of 3.08% and a negative net margin of 10.91%. The firm had revenue of $39.86 million for the quarter, compared to the consensus estimate of $40.38 million. During the same period in the prior year, the firm earned $0.21 EPS. The firm’s revenue was up 1.1% on a year-over-year basis.
The company also recently announced a monthly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be given a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 7.09%. The ex-dividend date of this dividend is Thursday, December 28th. Independence Realty Trust’s payout ratio is -276.92%.
In other news, CEO Scott Schaeffer bought 35,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were purchased at an average cost of $10.12 per share, with a total value of $354,200.00. Following the transaction, the chief executive officer now directly owns 155,306 shares in the company, valued at $1,571,696.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.58% of the stock is owned by corporate insiders.
Independence Realty Trust Company Profile
Independence Realty Trust, Inc is an internally-managed real estate investment trust (REIT). The Company is engaged in the business of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of real estate assets. The Company owns apartment properties in geographic non-gateway markets.
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