Analysts Expect Independence Realty Trust, Inc. (NYSE:IRT) Will Post Earnings of $0.20 Per Share

Brokerages expect Independence Realty Trust, Inc. (NYSE:IRT) to post earnings per share of $0.20 for the current quarter, according to Zacks. Four analysts have provided estimates for Independence Realty Trust’s earnings. The highest EPS estimate is $0.21 and the lowest is $0.19. Independence Realty Trust also reported earnings per share of $0.20 during the same quarter last year. The firm is expected to announce its next quarterly earnings results after the market closes on Wednesday, October 27th.

According to Zacks, analysts expect that Independence Realty Trust will report full year earnings of $0.80 per share for the current fiscal year, with EPS estimates ranging from $0.78 to $0.82. For the next year, analysts expect that the firm will report earnings of $0.90 per share, with EPS estimates ranging from $0.88 to $0.92. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Independence Realty Trust.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings data on Sunday, July 25th. The real estate investment trust reported $0.03 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.03. Independence Realty Trust had a return on equity of 2.70% and a net margin of 8.53%.

IRT has been the subject of several recent research reports. Colliers Securities reiterated a “buy” rating and set a $20.00 price target on shares of Independence Realty Trust in a report on Tuesday, July 20th. TheStreet raised Independence Realty Trust from a “c” rating to a “b-” rating in a research report on Monday, July 26th. KeyCorp upped their price target on Independence Realty Trust from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, August 12th. B. Riley reaffirmed a “neutral” rating on shares of Independence Realty Trust in a research report on Tuesday, September 28th. Finally, Zacks Investment Research raised Independence Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $18.69.

Large investors have recently modified their holdings of the company. Barclays PLC lifted its stake in shares of Independence Realty Trust by 62.5% in the 1st quarter. Barclays PLC now owns 202,844 shares of the real estate investment trust’s stock worth $3,084,000 after purchasing an additional 77,989 shares during the period. AQR Capital Management LLC lifted its stake in shares of Independence Realty Trust by 29.5% in the 1st quarter. AQR Capital Management LLC now owns 36,447 shares of the real estate investment trust’s stock worth $554,000 after purchasing an additional 8,309 shares during the period. Aew Capital Management L P lifted its stake in shares of Independence Realty Trust by 16.1% in the 2nd quarter. Aew Capital Management L P now owns 2,258,800 shares of the real estate investment trust’s stock worth $41,178,000 after purchasing an additional 312,600 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Independence Realty Trust by 13.9% in the 1st quarter. Ameriprise Financial Inc. now owns 465,144 shares of the real estate investment trust’s stock worth $7,072,000 after purchasing an additional 56,718 shares during the period. Finally, EAM Global Investors LLC bought a new position in shares of Independence Realty Trust in the 2nd quarter worth approximately $2,303,000. Hedge funds and other institutional investors own 94.56% of the company’s stock.

Shares of IRT opened at $21.23 on Monday. The stock has a market capitalization of $2.23 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 13.07 and a beta of 0.92. The firm’s fifty day simple moving average is $20.38 and its two-hundred day simple moving average is $18.52. Independence Realty Trust has a 12 month low of $11.17 and a 12 month high of $21.34.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 22nd. Stockholders of record on Friday, October 1st will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Thursday, September 30th. Independence Realty Trust’s dividend payout ratio (DPR) is presently 60.00%.

About Independence Realty Trust

Independence Realty Trust, Inc is a real estate investment trust, which acquires, owns, operates, improves and manages multifamily apartment communities across non-gateway U.S. markets. It aims to provide stockholders risk-adjusted returns through diligent portfolio management, operational performance and consistent return of capital through distributions and capital appreciation.

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Earnings History and Estimates for Independence Realty Trust (NYSE:IRT)

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