Independence Realty Trust (NYSE:IRT - Get Free Report) announced its quarterly earnings data on Wednesday. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the consensus estimate 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 Price Performance
Independence Realty Trust stock traded up $0.01 during mid-day trading on Friday, hitting $20.53. The company's stock had a trading volume of 1,626,088 shares, compared to its average volume of 1,370,973. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 2.77 and a beta of 1.21. The business has a 50 day moving average price of $19.75 and a 200-day moving average price of $20.09. Independence Realty Trust has a 12 month low of $14.35 and a 12 month high of $22.26.
Independence Realty Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.12%. The ex-dividend date was Tuesday, December 31st.
Analyst Upgrades and Downgrades
IRT has been the subject of several recent research reports. BMO Capital Markets upgraded 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. Barclays lowered their price target on shares of Independence Realty Trust from $23.00 to $21.00 and set an "equal weight" rating for the company in a report on Friday, January 24th. Finally, JMP Securities reiterated a "market outperform" rating and set a $22.00 price target on shares of Independence Realty Trust in a report on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.86.
Read Our Latest Stock Analysis on Independence Realty Trust
About Independence Realty Trust
(
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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.
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