Independence Realty Trust (NYSE:IRT) Releases FY 2024 Earnings Guidance

Independence Realty Trust (NYSE:IRT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.155-1.165 for the period, compared to the consensus earnings per share estimate of 1.150. The company issued revenue guidance of -. Independence Realty Trust also updated its FY33 guidance to $1.155-$1.165 EPS.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IRT shares. KeyCorp boosted their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. BTIG Research upped their price target on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, JMP Securities increased their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.57.

Independence Realty Trust Stock Performance

NYSE:IRT traded down $0.56 during trading hours on Friday, hitting $19.06. The company’s stock had a trading volume of 1,889,971 shares, compared to its average volume of 2,272,771. Independence Realty Trust has a 52-week low of $12.50 and a 52-week high of $21.20. The company has a market capitalization of $4.29 billion, a PE ratio of 17.33, a PEG ratio of 2.88 and a beta of 1.17. The business’s 50-day moving average is $20.11 and its two-hundred day moving average is $18.63.

Independence Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Monday, September 30th.

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.