Independence Realty Trust Inc. [IRT] is -37.28% lower this YTD. Is it still time to buy?

Independence Realty Trust Inc. [NYSE: IRT] closed the trading session at $16.20 on 11/02/22. The day’s price range saw the stock hit a low of $16.20, while the highest price level was $16.99. The company report on October 26, 2022 that Independence Realty Trust Announces Third Quarter 2022 Financial Results.

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Independence Realty Trust, Inc. (“IRT”) (NYSE: IRT), a multifamily apartment REIT, today announced its third quarter 2022 financial results.

The stocks have a year to date performance of -37.28 percent and weekly performance of 2.53 percent. The stock has been moved at -36.52 percent over the last six months. The stock has performed -7.74 percent around the most recent 30 days and changed -22.71 percent over the most recent 3-months.

If compared to the average trading volume of 1.95M shares, IRT reached to a volume of 5181748 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 $25.08 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.

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 October 19, 2022. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on May 09, 2022, representing the official price target for Independence Realty Trust Inc. stock. Previously, the target price had yet another raise to $32, while Jefferies analysts kept a Buy 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 6.56. The Price to Book ratio for the last quarter was 1.00, with the Price to Cash per share for the same quarter was set at 0.11. Price to Free Cash Flow for IRT in the course of the last twelve months was 113.10.

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 2.53. With this latest performance, IRT shares dropped by -7.74% in over the last four-week period, additionally sinking by -36.52% over the last 6 months – not to mention a drop of -32.61% 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 45.98, with the RSI for the last a single of trading hit 47.81, and the three-weeks RSI is set at 44.09 for Independence Realty Trust Inc. [IRT]. The present Moving Average for the last 50 days of trading for this stock 17.59, while it was recorded at 16.62 for the last single week of trading, and 22.08 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 $2,981 million, or 84.10% 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 0.10% of the total institutional ownership; BLACKROCK INC., holding 30,297,368 shares of the stock with an approximate value of $490.82 million in IRT stocks shares; and STATE STREET CORP, currently with $207.94 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 October and at the time of the October reporting period, where 184 institutional holders increased their position in Independence Realty Trust Inc. [NYSE:IRT] by around 22,709,630 shares. Additionally, 180 investors decreased positions by around 28,235,215 shares, while 62 investors held positions by with 133,047,864 shares. The mentioned changes placed institutional holdings at 183,992,709 shares, according to the latest SEC report filing. IRT stock had 50 new institutional investments in for a total of 3,653,827 shares, while 61 institutional investors sold positions of 6,592,446 shares during the same period.


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