Independence Realty Trust, Inc. (IRT) To Go Ex-Dividend on September 30th

Independence Realty Trust, Inc. (NYSE:IRT) announced a quarterly dividend on Monday, September 8th, Wall Street Journal reports. Stockholders of record on Tuesday, September 30th will be given a dividend of 0.17 per share by the real estate investment trust on Friday, October 24th. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 30th.

Independence Realty Trust has a dividend payout ratio of 220.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Independence Realty Trust to earn $1.27 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 50.4%.

Independence Realty Trust Stock Performance

NYSE IRT opened at $17.88 on Wednesday. Independence Realty Trust has a 52-week low of $16.59 and a 52-week high of $22.26. The firm has a 50-day moving average of $17.45 and a 200-day moving average of $18.69. The stock has a market cap of $4.18 billion, a PE ratio of 149.00, a P/E/G ratio of 2.46 and a beta of 0.96.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. Independence Realty Trust had a net margin of 4.31% and a return on equity of 0.78%. The business had revenue of $161.89 million during the quarter, compared to analysts’ expectations of $164.78 million. During the same quarter in the previous year, the company earned $0.28 EPS. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. As a group, analysts predict that Independence Realty Trust will post 1.19 EPS for the current fiscal year.

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.