Capital One Financial reaffirmed their equal weight rating on shares of Independence Realty Trust (NYSE:IRT) in a report published on Monday, Zacks.com reports. Capital One Financial also issued estimates for Independence Realty Trust’s Q3 2019 earnings at $0.19 EPS, Q4 2019 earnings at $0.20 EPS, FY2019 earnings at $0.75 EPS, Q1 2020 earnings at $0.20 EPS, Q2 2020 earnings at $0.21 EPS, Q3 2020 earnings at $0.21 EPS, Q4 2020 earnings at $0.21 EPS, FY2020 earnings at $0.82 EPS, Q1 2021 earnings at $0.22 EPS, Q2 2021 earnings at $0.22 EPS and FY2021 earnings at $0.88 EPS.

IRT has been the topic of a number of other reports. Zacks Investment Research upgraded Independence Realty Trust from a hold rating to a buy rating and set a $14.00 price target on the stock in a research report on Wednesday, August 7th. TheStreet upgraded Independence Realty Trust from a c rating to a b- rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Independence Realty Trust presently has a consensus rating of Hold and a consensus price target of $11.35.

NYSE IRT opened at $14.42 on Monday. The firm has a market cap of $1.31 billion, a PE ratio of 19.49 and a beta of 0.77. Independence Realty Trust has a one year low of $8.75 and a one year high of $14.57. The stock’s 50 day simple moving average is $13.58 and its 200 day simple moving average is $11.72. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.60 and a quick ratio of 0.60.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.03). The business had revenue of $50.85 million for the quarter, compared to the consensus estimate of $50.17 million. Independence Realty Trust had a return on equity of 5.88% and a net margin of 18.42%. As a group, equities analysts expect that Independence Realty Trust will post 0.76 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, September 27th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.72 dividend on an annualized basis and a yield of 4.99%. Independence Realty Trust’s payout ratio is 97.30%.

In other Independence Realty Trust news, Director Richard H. Ross sold 4,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $13.28, for a total value of $53,120.00. Following the transaction, the director now directly owns 28,843 shares in the company, valued at approximately $383,035.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.69% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Independence Realty Trust by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 10,158,984 shares of the real estate investment trust’s stock valued at $117,540,000 after buying an additional 120,199 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Independence Realty Trust by 12.5% in the 2nd quarter. Renaissance Technologies LLC now owns 4,792,513 shares of the real estate investment trust’s stock worth $55,449,000 after purchasing an additional 534,219 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Independence Realty Trust by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 2,321,609 shares of the real estate investment trust’s stock worth $25,050,000 after purchasing an additional 56,546 shares during the last quarter. Northern Trust Corp boosted its position in shares of Independence Realty Trust by 3.3% in the 2nd quarter. Northern Trust Corp now owns 1,823,762 shares of the real estate investment trust’s stock worth $21,101,000 after purchasing an additional 58,688 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Independence Realty Trust by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,518,612 shares of the real estate investment trust’s stock worth $17,571,000 after purchasing an additional 24,379 shares during the last quarter. Hedge funds and other institutional investors own 87.23% of the company’s stock.

Independence Realty Trust Company Profile

Independence Realty Trust (NYSE: IRT) is a real estate investment trust that currently owns and operates 58 multifamily apartment properties, totaling 15,880 units, across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers.

Further Reading: Overbought

Analyst Recommendations for Independence Realty Trust (NYSE:IRT)

Receive News & Ratings for Independence Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independence Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.