Independence Realty Trust (NYSE:IRT) Announces Earnings Results, Beats Expectations By $0.24 EPS

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

Independence Realty Trust Trading Up 1.2 %

NYSE:IRT traded up $0.24 during mid-day trading on Friday, hitting $20.76. The stock had a trading volume of 238,570 shares, compared to its average volume of 1,536,448. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 2.77 and a beta of 1.21. The company has a 50 day simple moving average of $19.77 and a 200-day simple moving average of $20.07. Independence Realty Trust has a 52 week low of $14.35 and a 52 week high of $22.26.

Independence Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were given a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.64 annualized dividend and a yield of 3.08%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IRT. Barclays cut their price target on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. JMP Securities reaffirmed a “market outperform” rating and set a $22.00 price target on shares of Independence Realty Trust in a research note on Tuesday. Finally, BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and raised their target price for the company from $19.00 to $21.00 in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.86.

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.