Monday, November 30, 2020

Stifel slashes price target on Independence Realty Trust Inc. [IRT] – find out why.

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Independence Realty Trust Inc. [NYSE: IRT] traded at a low on 06/11/20, posting a -4.51 loss after which it closed the day’ session at $10.81. The results of the trading session contributed to over 1101218 shares changing hands. Over the past one week, the price volatility of Independence Realty Trust Inc. stands at 5.01% while the volatility over the past one month is 4.20%.

The market cap for IRT stock reached $962.09 million, with 90.90 million shares outstanding and 89.00 million shares in the current float. Compared to the average trading volume of 1.01M shares, IRT reached a trading volume of 1101218 in the most recent trading day, which is why market watchdogs consider the stock to be active.


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What do top market gurus say about Independence Realty Trust Inc. [IRT]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IRT shares is $10.61 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IRT stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stifel have made an estimate for Independence Realty Trust Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 10, 2020. The new note on the price target was released on October 31, 2019, representing the official price target for Independence Realty Trust Inc. stock.

The Average True Range (ATR) for Independence Realty Trust Inc. is set at 0.52, with the Price to Sales ratio for IRT stock in the period of the last 12 months amounting to 4.69. The Price to Book ratio for the last quarter was 1.58, with the Price to Cash per share for the same quarter was set at 0.64.

How has IRT stock performed recently?

Independence Realty Trust Inc. [IRT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.01. With this latest performance, IRT shares gained by 16.74% in over the last four-week period, additionally sinking by -26.66% over the last 6 months – not to mention a drop of -7.05% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IRT stock in for the last two-week period is set at 54.36, with the RSI for the last a single of trading hit 51.62, and the three-weeks RSI is set at 53.68 for Independence Realty Trust Inc. [IRT]. The present Moving Average for the last 50 days of trading for this stock 9.63, while it was recorded at 11.57 for the last single week of trading, and 12.95 for the last 200 days.

Independence Realty Trust Inc. [IRT]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Independence Realty Trust Inc. [IRT] shares currently have an operating margin of +5.38 and a Gross Margin at +31.39. Independence Realty Trust Inc.’s Net Margin is presently recorded at +22.48.

Return on Total Capital for IRT is now 0.68, given the latest momentum, and Return on Invested Capital for the company is 2.87. Return on Equity for this stock inclined to 7.42, with Return on Assets sitting at 2.76. When it comes to the capital structure of this company, Independence Realty Trust Inc. [IRT] has a Total Debt to Total Equity ratio set at 161.22. Additionally, IRT Total Debt to Total Capital is recorded at 61.72, with Total Debt to Total Assets ending up at 59.42. Long-Term Debt to Equity for the company is recorded at 159.90, with the Long-Term Debt to Total Capital now at 61.21.

Reflecting on the efficiency of the workforce at the company, Independence Realty Trust Inc. [IRT] managed to generate an average of $103,369 per employee.

Earnings analysis for Independence Realty Trust Inc. [IRT]

With the latest financial reports released by the company, Independence Realty Trust Inc. posted 0.16/share EPS, while the average EPS was predicted by analysts to be reported at 0.04/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 300.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IRT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Independence Realty Trust Inc. go to 5.00%.

Insider trade positions for Independence Realty Trust Inc. [IRT]

There are presently around $1,014 million, or 97.20% of IRT stock, in the hands of institutional investors. The top three institutional holders of IRT stocks are: BLACKROCK INC. with ownership of 16,089,902, which is approximately -1.588% of the company’s market cap and around 1.00% of the total institutional ownership; VANGUARD GROUP INC, holding 11,091,503 shares of the stock with an approximate value of $125.56 million in IRT stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $72.51 million in IRT stock with ownership of nearly 0.658% of the company’s market capitalization.

113 institutional holders increased their position in Independence Realty Trust Inc. [NYSE:IRT] by around 13,673,269 shares. Additionally, 78 investors decreased positions by around 5,471,170 shares, while 25 investors held positions by with 70,448,131 shares. The mentioned changes placed institutional holdings at 89,592,570 shares, according to the latest SEC report filing. IRT stock had 37 new institutional investments in for a total of 5,397,315 shares, while 17 institutional investors sold positions of 688,009 shares during the same period.

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