Independence Realty Trust Inc. [IRT] Stock trading around $26.84 per share: What’s Next?


Independence Realty Trust Inc. [NYSE: IRT] closed the trading session at $26.84 on 03/30/22. The day’s price range saw the stock hit a low of $26.66, while the highest price level was $26.95. The company report on March 14, 2022 that Independence Realty Trust Announces First Quarter 2022 Dividend.

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Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) announced that today IRT’s board of directors declared a quarterly dividend of $0.12 per share of IRT common stock, payable on April 22, 2022 to stockholders of record at the close of business on April 1, 2022.

“Upon the completion of our merger with STAR, we are in a unique position of strength,” said Scott Schaeffer, Chairman and CEO of IRT. “We plan to invest our excess cash flow into several investment opportunities that will deliver strong returns, namely our value add renovations and development projects. The Board will continue to evaluate IRT’s capital allocation strategy to ensure it is maximizing value for our shareholders.”.

The stocks have a year to date performance of 3.91 percent and weekly performance of 6.13 percent. The stock has been moved at 28.42 percent over the last six months. The stock has performed 6.93 percent around the most recent 30 days and changed 9.82 percent over the most recent 3-months.

If compared to the average trading volume of 4.70M shares, IRT reached to a volume of 3154134 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 $27.16 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.

Barclays have made an estimate for Independence Realty Trust Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 18, 2022. The new note on the price target was released on January 10, 2022, representing the official price target for Independence Realty Trust Inc. stock. Previously, the target price had yet another raise to $28, while RBC Capital Mkts analysts kept a Outperform rating on IRT stock.

The Average True Range (ATR) for Independence Realty Trust Inc. is set at 0.65, with the Price to Sales ratio for IRT stock in the period of the last 12 months amounting to 23.31. The Price to Book ratio for the last quarter was 0.97, with the Price to Cash per share for the same quarter was set at 0.17.

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 6.13. With this latest performance, IRT shares gained by 6.93% in over the last four-week period, additionally plugging by 28.42% over the last 6 months – not to mention a rise of 76.58% 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 65.47, with the RSI for the last a single of trading hit 69.57, and the three-weeks RSI is set at 62.90 for Independence Realty Trust Inc. [IRT]. The present Moving Average for the last 50 days of trading for this stock 24.62, while it was recorded at 26.47 for the last single week of trading, and 22.42 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 +20.97 and a Gross Margin at +29.46. Independence Realty Trust Inc.’s Net Margin is presently recorded at +17.49.

Return on Equity for this stock inclined to 2.11, with Return on Assets sitting at 1.07.

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%.

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

There are presently around $3,798 million, or 64.60% of IRT stock, in the hands of institutional investors. The top three institutional holders of IRT stocks are: BLACKROCK INC. with ownership of 19,727,468, which is approximately 4.439% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 12,229,335 shares of the stock with an approximate value of $328.24 million in IRT stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $198.44 million in IRT stock with ownership of nearly 9.236% 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 285 institutional holders increased their position in Independence Realty Trust Inc. [NYSE:IRT] by around 33,432,831 shares. Additionally, 81 investors decreased positions by around 5,788,138 shares, while 26 investors held positions by with 102,269,066 shares. The mentioned changes placed institutional holdings at 141,490,035 shares, according to the latest SEC report filing. IRT stock had 181 new institutional investments in for a total of 15,406,113 shares, while 11 institutional investors sold positions of 1,236,195 shares during the same period.