Independence Realty Trust Inc. [IRT] fell -19.63% so far this year. What now?

Independence Realty Trust Inc. [NYSE: IRT] traded at a low on 07/05/22, posting a -1.14 loss after which it closed the day’ session at $20.76. The company report on June 6, 2022 that Independence Realty Trust to Participate in Nareit’s REITweek 2022 Investor Conference.

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Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) today announced that Scott Schaeffer, Chairman and Chief Executive Officer and Jim Sebra, Chief Financial Officer, will be meeting with investors and analysts at Nareit’s REITweek 2022 Investor Conference on June 7-8 at the New York Hilton Midtown in New York City. There will also be a management presentation on Tuesday, June 7th at 2:15pm ET. The link to the webcast can be accessed as follows:.

IRT Company PresentationWhen: 2:15 PM ET, Tuesday, June 7, 2022Live Webcast: Can be accessed from the investor relations section of the IRT website at Shortly following the live presentation, a replay of the webcast will be available on the investor relations section of IRT’s website for 30 days after the presentation.

The results of the trading session contributed to over 4528607 shares changing hands. Over the past one week, the price volatility of Independence Realty Trust Inc. stands at 2.90% while the volatility over the past one month is 3.16%.

The market cap for IRT stock reached $4.53 billion, with 220.80 million shares outstanding and 219.74 million shares in the current float. Compared to the average trading volume of 4.16M shares, IRT reached a trading volume of 4528607 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $25.88 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 1.70. 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.

BTIG Research have made an estimate for Independence Realty Trust Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 09, 2022. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on April 22, 2022, representing the official price target for Independence Realty Trust Inc. stock. Previously, the target price had yet another raise to $30, while Barclays analysts kept a Overweight rating on IRT stock.

The Average True Range (ATR) for Independence Realty Trust Inc. is set at 0.68, with the Price to Sales ratio for IRT stock in the period of the last 12 months amounting to 13.10. The Price to Book ratio for the last quarter was 1.29, with the Price to Cash per share for the same quarter was set at 0.11.

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 -2.67. With this latest performance, IRT shares dropped by -13.64% in over the last four-week period, additionally sinking by -19.63% over the last 6 months – not to mention a rise of 13.32% 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 38.41, with the RSI for the last a single of trading hit 39.15, and the three-weeks RSI is set at 38.68 for Independence Realty Trust Inc. [IRT]. The present Moving Average for the last 50 days of trading for this stock 23.10, while it was recorded at 20.88 for the last single week of trading, and 23.88 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 +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 analysis for Independence Realty Trust Inc. [IRT]

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 $4,008 million, or 87.50% of IRT stock, in the hands of institutional investors. The top three institutional holders of IRT stocks are: BLACKROCK INC. with ownership of 39,462,883, which is approximately 100.04% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 24,329,328 shares of the stock with an approximate value of $510.92 million in IRT stocks shares; and STATE STREET CORP, currently with $258.36 million in IRT stock with ownership of nearly 121.721% of the company’s market capitalization.

Positions in Independence Realty Trust Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 228 institutional holders increased their position in Independence Realty Trust Inc. [NYSE:IRT] by around 69,522,584 shares. Additionally, 176 investors decreased positions by around 20,035,774 shares, while 45 investors held positions by with 101,301,852 shares. The mentioned changes placed institutional holdings at 190,860,210 shares, according to the latest SEC report filing. IRT stock had 73 new institutional investments in for a total of 4,065,991 shares, while 65 institutional investors sold positions of 6,911,127 shares during the same period.


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