Independence Realty Trust, Inc. (NYSE:IRT) Announces Quarterly Dividend of $0.18

Independence Realty Trust, Inc. (NYSE:IRT) announced a quarterly dividend on Tuesday, September 8th. Shareholders of record on Wednesday, September 30th will be paid a dividend of 0.18 per share by the real estate investment trust on Friday, October 23rd. This represents a c) dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Wednesday, September 30th.

Independence Realty Trust has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 3 years. Independence Realty Trust has a payout ratio of 248.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Independence Realty Trust to earn $1.17 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 61.5%.

Independence Realty Trust Trading Down 0.9%

Shares of IRT opened at $15.94 on Wednesday. The company’s 50 day simple moving average is $16.68 and its 200-day simple moving average is $16.31. Independence Realty Trust has a 12-month low of $14.60 and a 12-month high of $17.98. The firm has a market cap of $3.76 billion, a PE ratio of 88.58 and a beta of 0.93.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.26). Independence Realty Trust had a return on equity of 1.22% and a net margin of 6.52%.The business had revenue of $167.24 million for the quarter, compared to analysts’ expectations of $166.93 million. During the same period in the previous year, the business posted $0.28 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. As a group, equities research analysts forecast that Independence Realty Trust will post 1.14 EPS for the current fiscal year.

About Independence Realty Trust

Independence Realty Trust is a self-administered equity real estate investment trust that acquires, redevelops and manages multi-family communities. The company focuses on workforce housing, targeting Class A and B garden-style apartments in suburban and urban infill locations. Its core activities include sourcing value-add acquisitions, overseeing property renovations and delivering in-house property management services to optimize rental income and occupancy levels.

Headquartered in Wayne, Pennsylvania, Independence Realty Trust maintains a geographically diverse portfolio across several high-growth U.S.