Analyst (NYSE:IRT) Raises FY2022 EPS Estimates for Independence Realty Trust, Inc. – Defense World | Wordy Zone


Independence Realty Trust, Inc. (NYSE:IRT – Get Rating) – Equity research analysts at Jefferies Financial Group have raised their fiscal 2022 EPS estimates for shares of Independence Realty Trust in a research report published on Monday, March 8th August was released to customers and investors. Jefferies Financial Group analyst P. Abramowitz now expects the real estate investment trust to report earnings per share of $1.08 for the year, up from its previous estimate of $1.04. Jefferies Financial Group has a Buy rating and a price target of $24.00 on the stock. The consensus estimate for Independence Realty Trust’s most recent full-year earnings is $1.08 per share. Jefferies Financial Group also released estimates for Independence Realty Trust’s earnings for Q4 2022 of $0.29 per share, for fiscal 2024 of $1.31 per share and for fiscal 2025 of $1.46 per share .

A number of other research companies have also recently commented on the IRT. Compass Point posted a price target of $24.50 for shares of Independence Realty Trust in a research note on Monday, June 20th. BTIG Research began reporting on shares of Independence Realty Trust in a research note on Monday, May 9th. They set a buy rating and a price target of $27.00 for the company. Barclays lowered its price target on shares of Independence Realty Trust from $30.00 to $28.00 in a research note on Tuesday, May 10. TheStreet downgraded shares of Independence Realty Trust from a “b-” rating to a “c+” rating in a research note on Tuesday, May 31st. Finally, StockNews.com upgraded shares of Independence Realty Trust to a “sell” rating in a research note Tuesday. One analyst has rated the stock with a sell rating, two have given it a hold rating and nine have given it a buy rating. According to MarketBeat, Independence Realty Trust currently has a consensus rating of Moderate Buy and a consensus price target of $26.72.

Trading Independence Realty Trust up 0.4%

Shares of IRT stock opened at $22.09 on Thursday. The company has a 50-day moving average price of $21.33 and a 200-day moving average price of $23.72. Independence Realty Trust has a 12-month low of $19.63 and a 12-month high of $28.42. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 10.15 and a beta of 0.90.

Independence Realty Trust raises dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 22nd. Stockholders of record on Friday, July 1 received a dividend of $0.14. That equates to a dividend of $0.56 on an annualized basis and a dividend yield of 2.54%. This is a positive change from Independence Realty Trust’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday June 30th. Independence Realty Trust’s payout ratio is currently 86.15%.

Hedge funds rely on Independence Realty Trust

A number of institutional investors have recently changed their positions in the business. Franklin Resources Inc. increased its position in shares of Independence Realty Trust by 2.5% during the second quarter. Franklin Resources Inc. now owns 214,116 shares of the Real Estate Investment Trust worth $4,438,000 after purchasing an additional 5,315 shares last quarter. Rhumbline Advisers increased its position in Independence Realty Trust by 21.2% in the second quarter. Rhumbline Advisers now owns 753,256 shares of the Real Estate Investment Trust valued at $15,615,000 after purchasing an additional 131,617 shares during the period. AlphaCrest Capital Management LLC increased its position in Independence Realty Trust by 29.3% during the second quarter. AlphaCrest Capital Management LLC now owns 29,305 shares of Real Estate Investment Trust valued at $607,000 after purchasing an additional 6,643 shares during the period. Cetera Advisor Networks LLC increased its stake in shares of Independence Realty Trust by 22.0% during the second quarter. Cetera Advisor Networks LLC now owns 173,035 shares of the Real Estate Investment Trust worth $3,587,000 after purchasing an additional 31,255 shares last quarter. Finally, Cetera Advisors LLC increased its stake in Independence Realty Trust stock by 14.4% during the second quarter. Cetera Advisors LLC now owns 149,488 shares of the real estate investment trust worth $3,099,000 after purchasing an additional 18,832 shares last quarter. 82.42% of the shares are owned by institutional investors and hedge funds.

Corporate Profile of Independence Realty Trust

(received rating)

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily residential properties in non-Gateway US 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, quality retail outlets and large employment centers.

Further reading

Earnings History and Estimates for Independence Realty Trust (NYSE:IRT)



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