Independence Realty Trust, (NYSE:IRT) announced a monthly dividend on early Mon, Jul 17th, Wall Street Journal reports. Traders who own the stock with a record date on Thurs, Aug 31st will be paid dividend of 0.06 for a share by the real estate investment trust on early Fri, Sep 15th. this indicates a $0.72 dividend on a yearly basis and a payout of of 7.22%. The ex-dividend date of this dividend is Tue, Aug 29th.
Independence Realty Trust (IRT) declined 1.87% through out intraday market trading on early Fri, topping $9.97. 590,076 stocks of the firms shares were exchanged. Company’s market valuation is $686.40 M. the firms 50 Day SMA price is $10.02 and the 200 day SMA is $9.50. Independence Realty Trust has a 52 week low of $7.74 and a 52 week high of $10.70.
Independence Realty Trust has raised its dividend by a consensus of 50.0% annually during the last around three years. Independence Realty Trust has a yield ratio of 96.0% indicating its dividend is presently covered by earnings, but May not be in the future if the firms earnings tumble. Brokerage firms predict Independence Realty Trust to earn $0.30 for a share upcoming fiscal year, which means The corporation May not be able to cover its $0.72 annual dividend with an anticipated future yield of of 240.0%.
Independence Realty Trust (NYSE:IRT) previously released its earnings report on early Tue, Aug 1st. The real estate investment trust posted $0.19 EPS for the period, exceeding wall street forecast of $0.18 by $0.01. the company reported sales of $39.43 M for the period end, compared with brokerage expectations of $39.43 M. Independence Realty Trust had a negative net profit margin of 10.28% and a negative ROE of 3.22%. The company’s end of quarter revenue went up 2.9% on a YOY basis. For the same quarter from the prior fiscal year, company reported $0.22 Earnings Per Share. Financial experts predict that Independence Realty Trust to post $0.46 EPS for the present financial year.
In associated news, Chief Executive Officer Scott Schaeffer bought 35,000 stocks of the firms shares in a trade that took place on Mon, Aug 7th. The Stocks were bought at a consensus price of $10.12 for a share, with a total value of $354,200.00. after the bought, the CEO has an ownership of 155,306 company stock worth at $1,571,696.72. The information was declared in a transaction filed with the SEC . 0.58% of the shares is presently held by corporate executives.
Many brokerage firm analysts have quite recently commented on the share. Research firm Zacks lifted stocks of Independence Realty Trust from a “hold” recommendation to a “buy” recommendation and fixed a $11.00 price target for The corporation in a note on Tue, Jul 18th. Ladenburg Thalmann Financial Services restated a “buy” recommendation on stocks of Independence Realty Trust in a note on Wed, Aug 2nd. ValuEngine cut shares of Independence Realty Trust from a “buy” recommendation to a “hold” recommendation in a study on Thurs, Jul 20th. JMP Securities reiterated an “outperform” recommendation and given a $11.50 price objective (up prior from $10.50) on stocks of Independence Realty Trust in a study report published on Fri, Jun 30th. Lastly, FBR & Co lifted shares of Independence Realty Trust from a “market perform” recommendation to an “outperform” recommendation and boosted their PT for the company from $9.75 to $11.50 in a study analysis published on early Thur, Jun 15th. Two research experts recommended the company shares with a hold recommendation and six have published a buy recommendation to The corporation. the share has a consensus rating of “Buy” and a consensus price objective of $10.45.