Independence Realty Trust (NYSE:IRT) issued an update on its FY 2020
After-Hours earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.79-0.82 for the period.
Shares of NYSE IRT traded down $0.06 during midday trading on Friday, hitting $16.44. The company’s stock had a trading volume of 602,374 shares, compared to its average volume of 482,877. Independence Realty Trust has a 1-year low of $9.91 and a 1-year high of $16.85. The firm’s fifty day moving average price is $14.60 and its 200-day moving average price is $14.29. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.50 and a current ratio of 0.50. The firm has a market cap of $1.50 billion, a P/E ratio of 41.10 and a beta of 0.76.
Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.17. Independence Realty Trust had a net margin of 18.23% and a return on equity of 5.97%. The business had revenue of $51.43 million during the quarter, compared to analyst estimates of $52.28 million. As a group, research analysts predict that Independence Realty Trust will post 0.72 earnings per share for the current fiscal year.
IRT has been the subject of several research reports. Compass Point lowered shares of Independence Realty Trust from a buy rating to a neutral rating in a report on Thursday, October 31st. Zacks Investment Research lowered shares of Independence Realty Trust from a buy rating to a hold rating in a report on Tuesday, January 28th. JMP Securities lowered shares of Independence Realty Trust from an outperform rating to a market perform rating and set a $12.00 price target for the company. in a report on Monday, October 21st. Finally, TheStreet lowered shares of Independence Realty Trust from a b- rating to a c+ rating in a report on Friday, November 8th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $12.80.
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.
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.