Independence Realty Trust Inc. [NYSE: IRT] loss -1.48% or -0.24 points to close at $15.94 with a heavy trading volume of 6447581 shares. The company report on September 12, 2023 at 4:25 PM that Independence Realty Trust Announces Third Quarter 2023 Dividend.
Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) announced that today IRT’s board of directors declared a quarterly dividend of $0.16 per share of IRT common stock, payable on October 20, 2023 to stockholders of record at the close of business on September 29, 2023.
It opened the trading session at $16.14, the shares rose to $16.20 and dropped to $15.84, the range by which the price of stock traded the whole day. The daily chart for IRT points out that the company has recorded -4.72% loss over the past six months. However, it is still -9.55% lower than its most recent low trading price.
If we look at the average trading volume of 1.63M shares, IRT reached to a volume of 6447581 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 $20.73 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 1.90. 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.
BMO Capital Markets have made an estimate for Independence Realty Trust Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on July 18, 2023.
The Average True Range (ATR) for Independence Realty Trust Inc. is set at 0.33, with the Price to Sales ratio for IRT stock in the period of the last 12 months amounting to 5.59. The Price to Book ratio for the last quarter was 1.01, with the Price to Cash per share for the same quarter was set at 0.06. Price to Free Cash Flow for IRT in the course of the last twelve months was 50.76.
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 -2.63. With this latest performance, IRT shares dropped by -2.92% in over the last four-week period, additionally sinking by -4.72% over the last 6 months – not to mention a drop of -19.73% 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 37.30, with the RSI for the last a single of trading hit 33.88, and the three-weeks RSI is set at 39.37 for Independence Realty Trust Inc. [IRT]. The present Moving Average for the last 50 days of trading for this stock 16.90, while it was recorded at 16.15 for the last single week of trading, and 17.22 for the last 200 days.
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 -6.06%.
An analysis of Institutional ownership at Independence Realty Trust Inc. [IRT]
The top three institutional holders of IRT stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in IRT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in IRT stock with ownership which is approximately 5.7381%.