Independence Realty Trust (NYSE:IRT) Releases FY 2024 Earnings Guidance

Independence Realty Trust (NYSE:IRT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.155-1.165 for the period, compared to the consensus estimate of 1.150. The company issued revenue guidance of -. Independence Realty Trust also updated its FY33 guidance to $1.155-$1.165 EPS.

Independence Realty Trust Stock Performance

Shares of NYSE IRT traded down $0.56 during mid-day trading on Friday, reaching $19.06. 1,889,971 shares of the company traded hands, compared to its average volume of 2,272,771. The stock has a market cap of $4.29 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 2.88 and a beta of 1.17. The company’s fifty day moving average is $20.11 and its two-hundred day moving average is $18.63. Independence Realty Trust has a fifty-two week low of $12.50 and a fifty-two week high of $21.20.

Independence Realty Trust Dividend Announcement

The business also recently disclosed 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.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IRT shares. Deutsche Bank Aktiengesellschaft increased their price objective on Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. JMP Securities raised their target price on Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Monday, September 9th. KeyCorp raised their target price on Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, BTIG Research raised their target price on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat, Independence Realty Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.57.

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.