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 (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 Price Performance

NYSE:IRT traded down $0.56 during mid-day trading on Friday, reaching $19.06. The stock had a trading volume of 1,889,971 shares, compared to its average volume of 2,272,771. The stock has a 50-day simple moving average of $20.11 and a two-hundred day simple moving average of $18.63. The stock has a market capitalization of $4.29 billion, a PE ratio of 17.33, a P/E/G ratio of 2.88 and a beta of 1.17. Independence Realty Trust has a 12 month low of $12.50 and a 12 month high of $21.20.

Independence Realty Trust Dividend Announcement

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

Wall Street Analysts Forecast Growth

IRT has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. JMP Securities boosted their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Monday, September 9th. 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 report on Monday, August 12th. Finally, KeyCorp boosted their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Independence Realty Trust currently has a consensus rating of “Moderate Buy” and an average target price of $19.57.

About Independence Realty Trust

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.