Independence Realty Trust (IRT) Set to Announce Quarterly Earnings on Wednesday

Independence Realty Trust (NYSE:IRT) will be releasing its earnings data after the market closes on Wednesday, October 30th. Analysts expect Independence Realty Trust to post earnings of $0.29 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Independence Realty Trust Stock Performance

NYSE:IRT opened at $19.53 on Wednesday. The company has a market cap of $4.39 billion, a price-to-earnings ratio of -650.83, a P/E/G ratio of 2.79 and a beta of 1.17. The stock’s fifty day moving average price is $20.11 and its two-hundred day moving average price is $18.47. Independence Realty Trust has a 52-week low of $11.61 and a 52-week high of $21.20.

Independence Realty Trust Dividend Announcement

The company also recently declared 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 3.28%. The ex-dividend date of this dividend was Monday, September 30th. Independence Realty Trust’s dividend payout ratio (DPR) is presently -2,133.33%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on IRT shares. KeyCorp boosted their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. JMP Securities boosted their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, BTIG Research lifted their target price on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.