Independence Realty Trust (IRT) Receiving Somewhat Positive Press Coverage, Analysis Shows

News coverage about Independence Realty Trust (NYSE:IRT) has been trending somewhat positive recently, according to Accern Sentiment Analysis. The research firm ranks the sentiment of press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Independence Realty Trust earned a media sentiment score of 0.19 on Accern’s scale. Accern also assigned press coverage about the real estate investment trust an impact score of 46.9729284719521 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

Here are some of the news stories that may have effected Accern Sentiment’s rankings:

Shares of Independence Realty Trust (NYSE:IRT) traded down 0.10% during trading on Friday, reaching $10.40. 30,267 shares of the company traded hands. Independence Realty Trust has a 12 month low of $7.74 and a 12 month high of $10.63. The company has a 50-day moving average of $10.29 and a 200-day moving average of $9.91. The stock’s market capitalization is $716.01 million.

Independence Realty Trust (NYSE:IRT) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $39.43 million during the quarter, compared to analysts’ expectations of $39.43 million. Independence Realty Trust had a negative net margin of 10.28% and a negative return on equity of 3.22%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share. Analysts forecast that Independence Realty Trust will post $0.46 earnings per share for the current fiscal year.

The business also recently announced a monthly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 6.92%. Independence Realty Trust’s dividend payout ratio (DPR) is currently -313.03%.

A number of analysts have weighed in on IRT shares. Zacks Investment Research raised shares of Independence Realty Trust from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Monday, September 4th. ValuEngine raised shares of Independence Realty Trust from a “hold” rating to a “buy” rating in a report on Friday, September 1st. FBR & Co reaffirmed an “outperform” rating and set a $10.75 price objective on shares of Independence Realty Trust in a report on Tuesday, July 11th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and set a $11.00 price objective on shares of Independence Realty Trust in a report on Friday, September 8th. Finally, JMP Securities reaffirmed an “outperform” rating and set a $11.50 price objective (up from $10.50) on shares of Independence Realty Trust in a report on Friday, June 30th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $11.00.

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In related news, CEO Scott Schaeffer bought 35,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was purchased at an average price of $10.12 per share, with a total value of $354,200.00. Following the completion of the acquisition, the chief executive officer now owns 155,306 shares of the company’s stock, valued at $1,571,696.72. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.58% of the stock is currently owned by corporate insiders.

Independence Realty Trust Company Profile

Independence Realty Trust, Inc is an internally-managed real estate investment trust (REIT). The Company is engaged in the business of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of real estate assets. The Company owns apartment properties in geographic non-gateway markets.

Insider Buying and Selling by Quarter for Independence Realty Trust (NYSE:IRT)

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