Independence Realty Trust Inc [NYSE: IRT] stock went on an upward path that rose over 6.74% on Thursday, amounting to a one-week price increase of more than 4.30%. The company report on February 14, 2024 at 4:05 PM that Independence Realty Trust Announces Fourth Quarter and Full Year 2023 Financial Results.
Introduces Full Year 2024 Guidance.
Independence Realty Trust, Inc. (“IRT”) (NYSE: IRT), a multifamily apartment REIT, today announced its fourth quarter and full year 2023 financial results and provided its full year 2024 guidance.
Over the last 12 months, IRT stock dropped by -17.24%. The one-year Independence Realty Trust Inc stock forecast points to a potential upside of 11.31. The average equity rating for IRT stock is currently 1.83, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.49 billion, with 224.06 million shares outstanding and 223.04 million shares in the current float. Compared to the average trading volume of 2.45M shares, IRT stock reached a trading volume of 5062527 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $17.50 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 1.83. 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.
Deutsche Bank have made an estimate for Independence Realty Trust Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 30, 2024.
The Average True Range (ATR) for Independence Realty Trust Inc is set at 0.45, with the Price to Sales ratio for IRT stock in the period of the last 12 months amounting to 5.31. The Price to Book ratio for the last quarter was 0.99, 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 28.01.
IRT Stock Performance Analysis:
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 4.30. With this latest performance, IRT shares gained by 4.23% in over the last four-week period, additionally sinking by -1.55% over the last 6 months – not to mention a drop of -17.24% 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 59.18, with the RSI for the last a single of trading hit 63.48, and the three-weeks RSI is set at 57.03 for Independence Realty Trust Inc [IRT]. The present Moving Average for the last 50 days of trading for this stock 15.06, while it was recorded at 14.79 for the last single week of trading, and 15.64 for the last 200 days.
IRT Stock EPS
With the latest financial reports released by the company, Independence Realty Trust Inc posted 0.04/share EPS, while the average EPS was predicted by analysts to be reported at 0.03/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 33.30%. 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.
Independence Realty Trust Inc [IRT] Institutonal Ownership Details
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%.
