Independence Realty Trust Inc. [NYSE: IRT] plunged by -$0.81 during the normal trading session on Thursday and reaching a high of $22.40 during the day while it closed the day at $21.52. The company report on July 27, 2022 that Independence Realty Trust Announces Second Quarter 2022 Financial Results and Closing of New Term Loan.
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Raises Full Year 2022 Guidance.
Independence Realty Trust, Inc. (“IRT”) (NYSE: IRT), a multifamily apartment REIT, today announced its second quarter 2022 financial results.
Independence Realty Trust Inc. stock has also loss -2.58% of its value over the past 7 days. However, IRT stock has declined by -3.02% in the 3 months of the year. Over the past six months meanwhile, it has lost -10.30% and lost -16.69% year-on date.
The market cap for IRT stock reached $4.73 billion, with 221.16 million shares outstanding and 220.65 million shares in the current float. Compared to the average trading volume of 3.09M shares, IRT reached a trading volume of 2612496 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 $26.33 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 0.50, with the Price to Sales ratio for IRT stock in the period of the last 12 months amounting to 10.67. The Price to Book ratio for the last quarter was 1.34, with the Price to Cash per share for the same quarter was set at 0.05. Price to Free Cash Flow for IRT in the course of the last twelve months was 860.33.
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 -2.58. With this latest performance, IRT shares gained by 1.51% in over the last four-week period, additionally sinking by -10.30% over the last 6 months – not to mention a rise of 8.69% 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 47.77, with the RSI for the last a single of trading hit 43.80, and the three-weeks RSI is set at 48.15 for Independence Realty Trust Inc. [IRT]. The present Moving Average for the last 50 days of trading for this stock 21.28, while it was recorded at 22.23 for the last single week of trading, and 23.87 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 $3,967 million, or 87.10% of IRT stock, in the hands of institutional investors. The top three institutional holders of IRT stocks are: VANGUARD GROUP INC with ownership of 32,315,916, which is approximately 32.827% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 30,297,368 shares of the stock with an approximate value of $652.0 million in IRT stocks shares; and STATE STREET CORP, currently with $276.22 million in IRT stock with ownership of nearly 4.332% 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 188 institutional holders increased their position in Independence Realty Trust Inc. [NYSE:IRT] by around 23,368,069 shares. Additionally, 201 investors decreased positions by around 28,790,180 shares, while 54 investors held positions by with 132,192,789 shares. The mentioned changes placed institutional holdings at 184,351,038 shares, according to the latest SEC report filing. IRT stock had 54 new institutional investments in for a total of 3,328,542 shares, while 69 institutional investors sold positions of 6,838,818 shares during the same period.