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

Independence Realty Trust (NYSE:IRT) issued its earnings results 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 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 Stock Performance

Shares of IRT stock opened at $20.09 on Thursday. The stock’s 50-day moving average is $19.80 and its two-hundred day moving average is $20.06. Independence Realty Trust has a 1 year low of $14.07 and a 1 year high of $22.26. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 2.77 and a beta of 1.21.

Independence Realty Trust Announces Dividend

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

Analysts Set New Price Targets

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