Independence Realty Trust Inc. [NYSE: IRT] plunged by -$0.22 during the normal trading session on Thursday and reaching a high of $20.56 during the day while it closed the day at $20.28. The company report on July 6, 2022 that Independence Realty Trust Announces Second 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 second quarter 2022 financial results after market close on Wednesday, July 27, 2022, and will hold its quarterly results conference call on Thursday, July 28, 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 994624.
Independence Realty Trust Inc. stock has also loss -2.22% of its value over the past 7 days. However, IRT stock has declined by -24.02% in the 3 months of the year. Over the past six months meanwhile, it has lost -15.32% and lost -21.49% year-on date.
The market cap for IRT stock reached $4.58 billion, with 220.80 million shares outstanding and 219.74 million shares in the current float. Compared to the average trading volume of 4.01M shares, IRT reached a trading volume of 2358473 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 $25.88 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 0.64, with the Price to Sales ratio for IRT stock in the period of the last 12 months amounting to 13.24. The Price to Book ratio for the last quarter was 1.26, with the Price to Cash per share for the same quarter was set at 0.11.
IRT stock trade performance evaluation
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 -2.22. With this latest performance, IRT shares dropped by -4.16% in over the last four-week period, additionally sinking by -15.32% over the last 6 months – not to mention a rise of 4.37% 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 36.96, with the RSI for the last a single of trading hit 36.79, and the three-weeks RSI is set at 37.59 for Independence Realty Trust Inc. [IRT]. The present Moving Average for the last 50 days of trading for this stock 22.12, while it was recorded at 20.32 for the last single week of trading, and 23.88 for the last 200 days.
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 $3,908 million, or 87.60% 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 $498.75 million in IRT stocks shares; and STATE STREET CORP, currently with $252.21 million in IRT stock with ownership of nearly 121.721% of the company’s market capitalization.
227 institutional holders increased their position in Independence Realty Trust Inc. [NYSE:IRT] by around 69,135,687 shares. Additionally, 171 investors decreased positions by around 19,592,579 shares, while 48 investors held positions by with 101,922,957 shares. The mentioned changes placed institutional holdings at 190,651,223 shares, according to the latest SEC report filing. IRT stock had 74 new institutional investments in for a total of 3,852,251 shares, while 61 institutional investors sold positions of 6,880,250 shares during the same period.