Independence Realty Trust (IRT) Updates FY18 Earnings Guidance

Independence Realty Trust (NYSE:IRT) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.74-$0.79 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.81.

Several brokerages have recently issued reports on IRT. National Securities upped their target price on shares of Independence Realty Trust from $9.00 to $11.00 and gave the company a neutral rating in a research report on Wednesday, November 22nd. B. Riley restated a buy rating on shares of Independence Realty Trust in a research report on Wednesday, November 1st. Zacks Investment Research cut shares of Independence Realty Trust from a hold rating to a sell rating in a research report on Thursday, November 9th. KeyCorp began coverage on shares of Independence Realty Trust in a research report on Tuesday, December 5th. They set a sector weight rating on the stock. Finally, Ladenburg Thalmann Financial Services restated a buy rating on shares of Independence Realty Trust in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $11.33.

Shares of Independence Realty Trust (NYSE IRT) traded down $0.04 during midday trading on Tuesday, hitting $8.74. 156,463 shares of the stock traded hands, compared to its average volume of 640,685. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market cap of $733.29, a PE ratio of -33.77 and a beta of 0.90. Independence Realty Trust has a 52-week low of $8.26 and a 52-week high of $10.63.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Tuesday, February 20th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.11. The firm had revenue of $42.31 million for the quarter, compared to analysts’ expectations of $43.59 million. Independence Realty Trust had a negative net margin of 10.91% and a negative return on equity of 3.08%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.17 EPS. equities analysts forecast that Independence Realty Trust will post 0.74 EPS for the current fiscal year.

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About Independence Realty Trust

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.

Earnings History and Estimates for Independence Realty Trust (NYSE:IRT)

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