Independence Realty Trust (NYSE:IRT) Updates 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 Ratings Changes

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

Independence Realty Trust Stock Performance

Shares of NYSE:IRT traded down $0.56 during trading on Friday, reaching $19.06. 1,889,971 shares of the stock were exchanged, compared to its average volume of 2,272,771. Independence Realty Trust has a 12-month low of $12.50 and a 12-month high of $21.20. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 2.88 and a beta of 1.17. The firm’s 50-day moving average price is $20.11 and its 200 day moving average price is $18.63.

Independence Realty Trust Dividend Announcement

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

Independence Realty Trust Company Profile

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.