Independence Realty Trust Inc (NYSE:IRT) – Capital One Financial issued their Q1 2020 earnings per share estimates for Independence Realty Trust in a note issued to investors on Monday, March 25th, according to Zacks Investment Research. Capital One Financial analyst D. Bernstein anticipates that the real estate investment trust will post earnings per share of $0.19 for the quarter. Capital One Financial also issued estimates for Independence Realty Trust’s Q2 2020 earnings at $0.20 EPS, Q3 2020 earnings at $0.20 EPS, Q4 2020 earnings at $0.20 EPS and FY2020 earnings at $0.79 EPS.
Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings results on Thursday, February 21st. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.15). Independence Realty Trust had a net margin of 13.77% and a return on equity of 4.16%. The business had revenue of $49.72 million during the quarter, compared to analyst estimates of $48.81 million.
NYSE IRT traded up $0.18 on Thursday, reaching $10.30. The company’s stock had a trading volume of 332,816 shares, compared to its average volume of 412,299. Independence Realty Trust has a twelve month low of $8.75 and a twelve month high of $10.94. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $922.20 million, a price-to-earnings ratio of 13.92 and a beta of 0.92.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.72 annualized dividend and a yield of 6.99%. Independence Realty Trust’s payout ratio is presently 97.30%.
In other Independence Realty Trust news, Director Richard H. Ross sold 6,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.33, for a total transaction of $61,980.00. Following the sale, the director now owns 27,369 shares in the company, valued at approximately $282,721.77. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.69% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of IRT. Ruggie Capital Group acquired a new position in shares of Independence Realty Trust in the 4th quarter valued at about $28,000. Oregon Public Employees Retirement Fund acquired a new position in shares of Independence Realty Trust in the 4th quarter valued at about $34,000. Bronfman E.L. Rothschild L.P. acquired a new position in shares of Independence Realty Trust in the 4th quarter valued at about $37,000. Bessemer Group Inc. acquired a new position in shares of Independence Realty Trust in the 4th quarter valued at about $42,000. Finally, Loeb Partners Corp acquired a new position in shares of Independence Realty Trust in the 4th quarter valued at about $46,000. Institutional investors own 86.33% of the company’s stock.
About Independence Realty Trust
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.
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