Brokerages expect Independence Realty Trust Inc (NYSE:IRT) to post $0.19 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have made estimates for Independence Realty Trust’s earnings, with the lowest EPS estimate coming in at $0.18 and the highest estimate coming in at $0.19. Independence Realty Trust reported earnings of $0.17 per share during the same quarter last year, which indicates a positive year over year growth rate of 11.8%. The company is expected to issue its next quarterly earnings report before the market opens on Tuesday, February 20th.
According to Zacks, analysts expect that Independence Realty Trust will report full-year earnings of $0.74 per share for the current year, with EPS estimates ranging from $0.73 to $0.74. For the next year, analysts expect that the company will report earnings of $0.78 per share, with EPS estimates ranging from $0.74 to $0.81. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Independence Realty Trust.
Several analysts have recently commented on IRT shares. B. Riley restated a “buy” rating on shares of Independence Realty Trust in a report on Wednesday, November 1st. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Independence Realty Trust in a report on Wednesday, November 1st. Zacks Investment Research upgraded Independence Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. National Securities increased their target price on Independence Realty Trust from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, November 22nd. Finally, KeyCorp started coverage on Independence Realty Trust in a report on Tuesday, December 5th. They set a “sector weight” rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Independence Realty Trust has a consensus rating of “Buy” and an average target price of $11.33.
Shares of Independence Realty Trust (NYSE IRT) opened at $8.67 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $715.75, a price-to-earnings ratio of -33.35 and a beta of 0.91. Independence Realty Trust has a 1-year low of $8.26 and a 1-year high of $10.63.
A number of institutional investors have recently bought and sold shares of IRT. Jennison Associates LLC bought a new position in Independence Realty Trust in the third quarter valued at about $12,713,000. BlackRock Inc. boosted its holdings in Independence Realty Trust by 11.0% in the fourth quarter. BlackRock Inc. now owns 12,188,828 shares of the real estate investment trust’s stock valued at $122,984,000 after acquiring an additional 1,206,269 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Independence Realty Trust by 93.7% in the third quarter. Principal Financial Group Inc. now owns 2,121,772 shares of the real estate investment trust’s stock valued at $21,578,000 after acquiring an additional 1,026,415 shares during the last quarter. Barings LLC bought a new position in Independence Realty Trust in the third quarter valued at about $9,490,000. Finally, Centaurus Financial Inc. bought a new position in Independence Realty Trust in the fourth quarter valued at about $8,736,000. Institutional investors and hedge funds own 78.60% of the company’s stock.
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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.
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