Shares of Independence Realty Trust Inc (NYSE:IRT) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $11.35.
Several research analysts have recently weighed in on IRT shares. ValuEngine raised shares of Independence Realty Trust from a “hold” rating to a “buy” rating in a report on Friday, May 10th. TheStreet raised shares of Independence Realty Trust from a “c” rating to a “b-” rating in a report on Thursday, August 1st. Zacks Investment Research raised shares of Independence Realty Trust from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Wednesday, August 7th. Finally, Boenning Scattergood set a $11.00 price objective on shares of Independence Realty Trust and gave the company a “buy” rating in a report on Thursday, May 2nd.
In other Independence Realty Trust news, Director Richard H. Ross sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $13.28, for a total value of $53,120.00. Following the completion of the transaction, the director now directly owns 28,843 shares in the company, valued at $383,035.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.69% of the stock is currently owned by corporate insiders.
Shares of NYSE IRT traded up $0.11 during midday trading on Wednesday, hitting $13.79. The stock had a trading volume of 349,513 shares, compared to its average volume of 467,022. The business’s 50 day moving average is $12.50 and its 200-day moving average is $11.23. The company has a market cap of $1.21 billion, a P/E ratio of 18.64 and a beta of 0.82. Independence Realty Trust has a 52 week low of $8.75 and a 52 week high of $13.86. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.63.
Independence Realty Trust (NYSE:IRT) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). The firm had revenue of $50.85 million during the quarter, compared to the consensus estimate of $50.17 million. Independence Realty Trust had a return on equity of 5.88% and a net margin of 18.42%. As a group, analysts expect that Independence Realty Trust will post 0.76 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Friday, June 28th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.72 dividend on an annualized basis and a yield of 5.22%. Independence Realty Trust’s dividend payout ratio is currently 97.30%.
Independence Realty Trust Company Profile
Independence Realty Trust (NYSE: IRT) is a real estate investment trust that currently owns and operates 58 multifamily apartment properties, totaling 15,880 units, across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers.
Receive News & Ratings for Independence Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independence Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.