Independence Realty Trust Inc. [IRT] fell -4.37% so far this year. What now?

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Independence Realty Trust Inc. [NYSE: IRT] plunged by -$1.13 during the normal trading session on Monday and reaching a high of $25.75 during the day while it closed the day at $24.70. The company report on December 16, 2021 that Independence Realty Trust and Steadfast Apartment REIT Complete Strategic Merger.

Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) and Steadfast Apartment REIT, Inc. (“STAR”) today announced the completion of the merger transaction between the two companies, forming a combined company with an equity market capitalization of approximately $5.6 billion and a total enterprise value of approximately $8.3 billion, as of market close on December 15, 2021. The transaction was previously approved by both companies’ stockholders at their respective special meetings held on December 13, 2021. The combined company, headquartered in Philadelphia, Pennsylvania, will retain the Independence Realty Trust name and will trade under the existing ticker symbol “IRT” on the New York Stock Exchange.


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“We are excited to announce the successful completion of our merger with STAR, together forming a leading public multifamily REIT focused on the high-growth U.S. Sunbelt region,” said Scott F. Schaeffer, IRT’s Chairman and CEO. “Our combined company creates a best-in-class operating platform, further redevelopment opportunities and notable economies of scale in markets where we expect to benefit from strong growth fundamentals. We remain on-track to generate approximately $28 million in annual synergies and realize the immediate accretion to Core FFO per share. Our future is bright as we unite two high-quality portfolios in attractive non-gateway markets, and look to strengthen and expand our business, while delivering long-term value for our stakeholders.”.

Independence Realty Trust Inc. stock has also gained 4.09% of its value over the past 7 days. However, IRT stock has inclined by 17.56% in the 3 months of the year. Over the past six months meanwhile, it has gained 32.37% and lost -4.37% year-on date.

The market cap for IRT stock reached $2.59 billion, with 104.92 million shares outstanding and 104.07 million shares in the current float. Compared to the average trading volume of 1.43M shares, IRT reached a trading volume of 7140581 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $25.42 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.

BMO Capital Markets have made an estimate for Independence Realty Trust Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 17, 2021. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price to Outperform. The new note on the price target was released on April 26, 2021, representing the official price target for Independence Realty Trust Inc. stock.

The Average True Range (ATR) for Independence Realty Trust Inc. is set at 0.88, with the Price to Sales ratio for IRT stock in the period of the last 12 months amounting to 11.36. The Price to Book ratio for the last quarter was 3.47, with the Price to Cash per share for the same quarter was set at 0.08.

IRT stock trade performance evaluation

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 4.09. With this latest performance, IRT shares dropped by -0.84% in over the last four-week period, additionally plugging by 32.37% over the last 6 months – not to mention a rise of 89.27% 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 52.51, with the RSI for the last a single of trading hit 52.85, and the three-weeks RSI is set at 53.07 for Independence Realty Trust Inc. [IRT]. The present Moving Average for the last 50 days of trading for this stock 24.43, while it was recorded at 24.79 for the last single week of trading, and 20.02 for the last 200 days.

Independence Realty Trust Inc. [IRT]: An insightful look at the core 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 +18.25 and a Gross Margin at +27.49. Independence Realty Trust Inc.’s Net Margin is presently recorded at +3.61.

Return on Total Capital for IRT is now 2.34, given the latest momentum, and Return on Invested Capital for the company is 0.47. Return on Equity for this stock inclined to 1.15, with Return on Assets sitting at 0.45. 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 133.98. Additionally, IRT Total Debt to Total Capital is recorded at 57.26, with Total Debt to Total Assets ending up at 54.68. Long-Term Debt to Equity for the company is recorded at 127.14, with the Long-Term Debt to Total Capital now at 54.34.

Reflecting on the efficiency of the workforce at the company, Independence Realty Trust Inc. [IRT] managed to generate an average of $17,061 per employee.

Earnings per share (EPS) analysis for Independence Realty Trust Inc. [IRT] stock

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%.

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Independence Realty Trust Inc. [IRT]: Insider Ownership positions

There are presently around $2,941 million, in the hands of institutional investors. The top three institutional holders of IRT stocks are: BLACKROCK INC. with ownership of 18,888,926, which is approximately -1.388% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 12,613,036 shares of the stock with an approximate value of $325.8 million in IRT stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $174.82 million in IRT stock with ownership of nearly -1.655% of the company’s market capitalization.

Positions in Independence Realty Trust Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 122 institutional holders increased their position in Independence Realty Trust Inc. [NYSE:IRT] by around 19,333,049 shares. Additionally, 75 investors decreased positions by around 2,885,000 shares, while 31 investors held positions by with 91,634,002 shares. The mentioned changes placed institutional holdings at 113,852,051 shares, according to the latest SEC report filing. IRT stock had 28 new institutional investments in for a total of 6,349,045 shares, while 17 institutional investors sold positions of 502,073 shares during the same period.