Market Analysts see Independence Realty Trust Inc [IRT] gaining to $15. Time to buy?

Independence Realty Trust Inc [NYSE: IRT] traded at a low on Wednesday, posting a -1.93 loss after which it closed the day’ session at $15.23. The company report on January 18, 2024 at 4:05 PM that Independence Realty Trust Announces Fourth Quarter and Full Year 2023 Earnings Release and Conference Call Dates.

Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) today announced that it expects to release its fourth quarter and full year 2023 financial results after market close on Wednesday, February 14, 2024, and will hold its quarterly results conference call on Thursday, February 15, 2024 at 9:00 a.m. Eastern Time.

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The live conference call can be accessed from the investor relations section of the IRT website at investors.irtliving.com or by dialing 1.888.660.9916, access code 1963990. A replay of the conference call will be available shortly following the live call on the investor relations section of IRT’s website and telephonically until Thursday, February 22, 2024 at 11:59 p.m. Eastern Time by dialing 1.800.770.2030, access code 1963990.

The results of the trading session contributed to over 3831668 shares changing hands. Over the past one week, the price volatility of Independence Realty Trust Inc stands at 3.20% while the volatility over the past one month is 2.37%.

The market cap for IRT stock reached $3.42 billion, with 224.06 million shares outstanding and 223.04 million shares in the current float. Compared to the average trading volume of 2.49M shares, IRT reached a trading volume of 3831668 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 $17.30 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 2.00. 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 Underperform, with their previous recommendation back on December 15, 2023.

The Average True Range (ATR) for Independence Realty Trust Inc is set at 0.41, with the Price to Sales ratio for IRT stock in the period of the last 12 months amounting to 5.21. The Price to Book ratio for the last quarter was 0.97, with the Price to Cash per share for the same quarter was set at 0.22. Price to Free Cash Flow for IRT in the course of the last twelve months was 27.49.

How has IRT stock performed recently?

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 2.28. With this latest performance, IRT shares gained by 0.53% in over the last four-week period, additionally sinking by -10.99% over the last 6 months – not to mention a drop of -15.62% 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 52.76, with the RSI for the last a single of trading hit 50.57, and the three-weeks RSI is set at 53.84 for Independence Realty Trust Inc [IRT]. The present Moving Average for the last 50 days of trading for this stock 14.58, while it was recorded at 15.36 for the last single week of trading, and 15.75 for the last 200 days.

Earnings analysis for Independence Realty Trust Inc [IRT]

With the latest financial reports released by the company, Independence Realty Trust Inc posted 0.15/share EPS, while the average EPS was predicted by analysts to be reported at 0.06/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 150.00%. 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%.

Insider trade positions for Independence Realty Trust Inc [IRT]

The top three institutional holders of IRT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in IRT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in IRT stock with ownership which is approximately 5.8325%.