News headlines about Independence Realty Trust (NYSE:IRT) have trended somewhat positive this week, according to Accern Sentiment. The research group rates the sentiment of news coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Independence Realty Trust earned a media sentiment score of 0.12 on Accern’s scale. Accern also assigned media coverage about the real estate investment trust an impact score of 47.3427023869671 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
These are some of the headlines that may have impacted Accern’s scoring:
- Independence Realty Trust, Inc. (IRT) Given Consensus Recommendation of “Buy” by Analysts (americanbankingnews.com)
- Technical Facts to Know Independence Realty Trust, Inc. (IRT) moves 33.72% away from One Year Low – Voice Of Analysts (analystsbuzz.com)
- Independence Realty Trust, Inc. (IRT) is at $10.35 per share and Brighthouse Financial, Inc. (BHF) is listed at $60.22 – Stocks Gallery (stocksgallery.com)
- Independence Realty Trust, Inc. breached its 50 day moving average in a Bullish Manner : IRT-US : October 2, 2017 (finance.yahoo.com)
- Independence Realty Trust Inc (IRT) Short Interest Update (americanbankingnews.com)
Several analysts have recently commented on IRT shares. Zacks Investment Research upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Monday, September 4th. ValuEngine upgraded Independence Realty Trust from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. FBR & Co reiterated an “outperform” rating and set a $10.75 price target on shares of Independence Realty Trust in a research note on Tuesday, July 11th. Ladenburg Thalmann Financial Services reiterated a “buy” rating and set a $11.00 price target on shares of Independence Realty Trust in a research note on Friday, September 8th. Finally, JMP Securities reiterated an “outperform” rating and set a $11.50 price target (up previously from $10.50) on shares of Independence Realty Trust in a research note on Friday, June 30th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $10.83.
Independence Realty Trust (NYSE:IRT) opened at 10.37 on Monday. Independence Realty Trust has a 1-year low of $7.74 and a 1-year high of $10.52. The firm’s 50-day moving average price is $10.18 and its 200-day moving average price is $9.79.
Independence Realty Trust (NYSE:IRT) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. Independence Realty Trust had a negative net margin of 10.28% and a negative return on equity of 3.22%. The business had revenue of $39.43 million during the quarter, compared to the consensus estimate of $39.43 million. During the same quarter last year, the firm earned $0.22 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities research analysts expect that Independence Realty Trust will post $0.46 earnings per share for the current year.
The firm also recently announced a monthly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date was Tuesday, August 29th. Independence Realty Trust’s dividend payout ratio is -313.03%.
In other news, CEO Scott Schaeffer purchased 35,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were purchased at an average price of $10.12 per share, for a total transaction of $354,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 155,306 shares in the company, valued at approximately $1,571,696.72. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.58% of the stock is currently owned by company insiders.
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About Independence Realty Trust
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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