Independence Realty Trust Inc. [NYSE: IRT] gained 0.77% on the last trading session, reaching $11.74 price per share at the time. The company report on October 3, 2020 that Independence Realty Trust Announces Third Quarter 2020 Earnings Release and Conference Call Dates.
Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) today announced that it expects to release its third quarter 2020 financial results after market close on Wednesday, October 28, 2020, and will hold its quarterly results conference call on Thursday, October 29, 2020 at 9:00 a.m. Eastern Time.
The live conference call can be accessed from the investor relations section of the IRT website at investors.irtliving.com or by dialing 1.844.775.2542, access code 4646712. A replay of the conference call will be available shortly following the live call on the investor relations section of IRT’s website and telephonically until Thursday, November 5, 2020 by dialing 1.855.859.2056, access code 4646712.
Independence Realty Trust Inc. represents 94.44 million in outstanding shares, while the company has a total market value of $1.11 billion with the latest information. IRT stock price has been found in the range of $11.66 to $11.93.
If compared to the average trading volume of 578.56K shares, IRT reached a trading volume of 1064798 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $12.09 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 2.20. 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.
Robert W. Baird have made an estimate for Independence Realty Trust Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 15, 2020. The new note on the price target was released on August 05, 2020, representing the official price target for Independence Realty Trust Inc. stock. Previously, the target price had yet another raise to $13, while KeyBanc Capital Markets analysts kept a Overweight rating on IRT stock.
The Average True Range (ATR) for Independence Realty Trust Inc. is set at 0.30, with the Price to Sales ratio for IRT stock in the period of the last 12 months amounting to 5.37. The Price to Book ratio for the last quarter was 1.81, with the Price to Cash per share for the same quarter was set at 0.12.
Trading performance analysis for IRT stock
Independence Realty Trust Inc. [IRT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.60. With this latest performance, IRT shares gained by 0.77% in over the last four-week period, additionally plugging by 15.10% over the last 6 months – not to mention a drop of -22.10% 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 49.51, with the RSI for the last a single of trading hit 49.54, and the three-weeks RSI is set at 50.83 for Independence Realty Trust Inc. [IRT]. The present Moving Average for the last 50 days of trading for this stock 11.70, while it was recorded at 11.71 for the last single week of trading, and 11.56 for the last 200 days.
Independence Realty Trust Inc. [IRT]: A deeper dive into fundamental analysis
Independence Realty Trust Inc. [IRT]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Independence Realty Trust Inc. posted 0.05/share EPS, while the average EPS was predicted by analysts to be reported at 0.06/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -16.70%. 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%.
An analysis of insider ownership at Independence Realty Trust Inc. [IRT]
There are presently around $1,076 million, or 99.20% of IRT stock, in the hands of institutional investors. The top three institutional holders of IRT stocks are: BLACKROCK INC. with ownership of 16,494,762, which is approximately 2.516% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 11,792,917 shares of the stock with an approximate value of $138.45 million in IRT stocks shares; and ALLIANCEBERNSTEIN L.P., currently with $70.32 million in IRT stock with ownership of nearly -0.798% of the company’s market capitalization.
100 institutional holders increased their position in Independence Realty Trust Inc. [NYSE:IRT] by around 10,760,748 shares. Additionally, 96 investors decreased positions by around 8,988,177 shares, while 27 investors held positions by with 71,926,728 shares. The mentioned changes placed institutional holdings at 91,675,653 shares, according to the latest SEC report filing. IRT stock had 25 new institutional investments in for a total of 3,419,257 shares, while 33 institutional investors sold positions of 2,181,962 shares during the same period.