Independence Realty Trust (NYSE:IRT) Issues Quarterly Earnings Results

Independence Realty Trust (NYSE:IRT) posted its earnings results on Wednesday. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.24, Zacks reports. Independence Realty Trust had a negative return on equity of 0.01% and a negative net margin of 0.03%. Independence Realty Trust updated its FY 2025 guidance to 1.160-1.190 EPS.

Independence Realty Trust Stock Down 0.4 %

Independence Realty Trust stock opened at $20.09 on Thursday. Independence Realty Trust has a 52-week low of $14.07 and a 52-week high of $22.26. The firm has a market cap of $4.52 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 2.77 and a beta of 1.21. The company’s 50 day moving average is $19.80 and its two-hundred day moving average is $20.06.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.19%. The ex-dividend date was Tuesday, December 31st.

Analyst Upgrades and Downgrades

IRT has been the topic of several research analyst reports. JMP Securities restated a “market outperform” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $19.00 to $21.00 in a research note on Friday, November 15th. Finally, Barclays lowered their price objective on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.86.

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.