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 EPS guidance of 1.120-1.160 for the period, compared to the consensus EPS estimate of 1.140. The company issued revenue guidance of -.

Analysts Set New Price Targets

A number of analysts recently issued reports on IRT shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Independence Realty Trust in a research report on Tuesday, January 30th. They set a buy rating and a $18.00 target price for the company. TheStreet downgraded shares of Independence Realty Trust from a c rating to a d+ rating in a research report on Friday, March 1st. Royal Bank of Canada increased their price objective on shares of Independence Realty Trust from $16.00 to $17.00 and gave the company an outperform rating in a research report on Friday, February 16th. Barclays lowered their price objective on shares of Independence Realty Trust from $22.00 to $18.00 and set an overweight rating for the company in a research report on Tuesday, February 20th. Finally, JMP Securities raised their price target on shares of Independence Realty Trust from $15.00 to $17.00 and gave the stock a market outperform rating in a research report on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $17.00.

Independence Realty Trust Price Performance

Shares of NYSE IRT traded up $0.17 during midday trading on Friday, reaching $15.83. 1,270,675 shares of the company traded hands, compared to its average volume of 2,301,782. The stock has a 50-day moving average price of $15.66 and a 200 day moving average price of $14.77. Independence Realty Trust has a 52 week low of $11.61 and a 52 week high of $18.77.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, March 29th were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.64 dividend on an annualized basis and a yield of 4.04%. Independence Realty Trust’s dividend payout ratio is currently -2,132.62%.

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.