Independence Realty Trust Inc. [IRT] moved down -1.37: Why It’s Important

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Independence Realty Trust Inc. [NYSE: IRT] loss -1.37% on the last trading session, reaching $27.31 price per share at the time. The company report on April 7, 2022 that Independence Realty Trust Announces First Quarter 2022 Earnings Release and Conference Call Dates.

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Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) today announced that it expects to release its first quarter 2022 financial results after market close on Tuesday, May 3, 2022, and will hold its quarterly results conference call on Wednesday, May 4, 2022 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 1.844.200.6205, access code 594917.

Independence Realty Trust Inc. represents 220.93 million in outstanding shares, while the company has a total market value of $6.07 billion with the latest information. IRT stock price has been found in the range of $27.26 to $27.985.

If compared to the average trading volume of 4.78M shares, IRT reached a trading volume of 4305696 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 $27.81 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.

Jefferies have made an estimate for Independence Realty Trust Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 22, 2022. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on January 18, 2022, representing the official price target for Independence Realty Trust Inc. stock. Previously, the target price had yet another raise to $27.75, while Compass Point analysts kept a Buy rating on IRT stock.

The Average True Range (ATR) for Independence Realty Trust Inc. is set at 0.64, with the Price to Sales ratio for IRT stock in the period of the last 12 months amounting to 24.21. The Price to Book ratio for the last quarter was 0.99, with the Price to Cash per share for the same quarter was set at 0.16.

Trading performance analysis for IRT stock

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 -1.90. With this latest performance, IRT shares gained by 3.76% in over the last four-week period, additionally plugging by 22.19% over the last 6 months – not to mention a rise of 62.85% 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 55.18, with the RSI for the last a single of trading hit 51.83, and the three-weeks RSI is set at 56.52 for Independence Realty Trust Inc. [IRT]. The present Moving Average for the last 50 days of trading for this stock 26.18, while it was recorded at 27.74 for the last single week of trading, and 23.24 for the last 200 days.

Independence Realty Trust Inc. [IRT]: A deeper dive into fundamental analysis

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.

Independence Realty Trust Inc. [IRT]: An earnings per share (EPS) analysis

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 $3,941 million, or 74.70% 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 $338.63 million in IRT stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $204.72 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 May and at the time of the May reporting period, where 274 institutional holders increased their position in Independence Realty Trust Inc. [NYSE:IRT] by around 33,490,032 shares. Additionally, 96 investors decreased positions by around 5,436,353 shares, while 32 investors held positions by with 103,407,453 shares. The mentioned changes placed institutional holdings at 142,333,838 shares, according to the latest SEC report filing. IRT stock had 159 new institutional investments in for a total of 14,766,765 shares, while 15 institutional investors sold positions of 509,346 shares during the same period.