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

Independence Realty Trust (NYSE:IRT) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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 -.

Independence Realty Trust Stock Performance

Independence Realty Trust stock traded up $0.17 during trading hours on Friday, reaching $15.83. 1,270,675 shares of the company’s stock traded hands, compared to its average volume of 2,301,782. The firm’s 50 day moving average is $15.66 and its 200-day moving average is $14.77. Independence Realty Trust has a fifty-two week low of $11.61 and a fifty-two week high of $18.77.

Independence Realty Trust Dividend Announcement

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

Analysts Set New Price Targets

IRT has been the subject of several recent analyst reports. JMP Securities increased their price objective on Independence Realty Trust from $15.00 to $17.00 and gave the company a market outperform rating in a report on Wednesday, March 6th. Royal Bank of Canada raised their price target on Independence Realty Trust from $16.00 to $17.00 and gave the company an outperform rating in a report on Friday, February 16th. TheStreet downgraded Independence Realty Trust from a c rating to a d+ rating in a report on Friday, March 1st. Barclays cut their price target on Independence Realty Trust from $22.00 to $18.00 and set an overweight rating for the company in a report on Tuesday, February 20th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Independence Realty Trust in a report on Tuesday, January 30th. They set a buy rating and a $18.00 price target for the company. 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, the company currently has a consensus rating of Hold and an average price target of $17.00.

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.