Independence Realty Trust (NYSE:IRT) announced its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01), Bloomberg Earnings reports. The business had revenue of $42.31 million for the quarter, compared to analysts’ expectations of $43.59 million. Independence Realty Trust had a net margin of 18.80% and a return on equity of 5.17%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 earnings per share. Independence Realty Trust updated its FY18 guidance to $0.74-$0.79 EPS.
Independence Realty Trust (NYSE:IRT) traded down $0.01 during trading on Wednesday, reaching $8.99. 400,724 shares of the company were exchanged, compared to its average volume of 736,351. The company has a market cap of $750.83, a price-to-earnings ratio of 21.40 and a beta of 0.95. Independence Realty Trust has a twelve month low of $8.26 and a twelve month high of $10.63. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 1.20.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 20th. Investors of record on Wednesday, April 4th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 8.01%. The ex-dividend date of this dividend is Tuesday, April 3rd. Independence Realty Trust’s dividend payout ratio (DPR) is presently 171.43%.
In related news, CEO Scott Schaeffer purchased 15,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average price of $8.33 per share, with a total value of $124,950.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.58% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Independence Realty Trust by 11.0% in the 4th quarter. BlackRock Inc. now owns 12,188,828 shares of the real estate investment trust’s stock worth $122,984,000 after buying an additional 1,206,269 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Independence Realty Trust by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 8,145,938 shares of the real estate investment trust’s stock worth $80,401,000 after buying an additional 201,984 shares during the last quarter. State Street Corp increased its holdings in shares of Independence Realty Trust by 20.2% in the 2nd quarter. State Street Corp now owns 2,226,547 shares of the real estate investment trust’s stock worth $21,979,000 after buying an additional 373,485 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Independence Realty Trust by 93.7% in the 3rd quarter. Principal Financial Group Inc. now owns 2,121,772 shares of the real estate investment trust’s stock worth $21,578,000 after buying an additional 1,026,415 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Independence Realty Trust by 25.9% in the 4th quarter. Jennison Associates LLC now owns 1,573,435 shares of the real estate investment trust’s stock worth $15,876,000 after buying an additional 323,435 shares during the last quarter. 79.86% of the stock is currently owned by hedge funds and other institutional investors.
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Independence Realty Trust Company Profile
Independence Realty Trust, Inc is an internally-managed real estate investment trust (REIT). The Company is engaged in the business of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of real estate assets. The Company owns apartment properties in geographic non-gateway markets.
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