Independence Realty Trust Inc [IRT] Stock trading around $18.32 per share: What’s Next?

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Independence Realty Trust Inc [NYSE: IRT] traded at a low on Tuesday, posting a -2.14 loss after which it closed the day’ session at $18.32.

The results of the trading session contributed to over 3579985 shares changing hands. Over the past one week, the price volatility of Independence Realty Trust Inc stands at 1.46% while the volatility over the past one month is 1.98%.

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The market cap for IRT stock reached $4.12 billion, with 224.71 million shares outstanding and 223.34 million shares in the current float. Compared to the average trading volume of 2.65M shares, IRT reached a trading volume of 3579985 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 $17.80 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. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price from $14 to $15. The new note on the price target was released on December 15, 2023, representing the official price target for Independence Realty Trust Inc stock. Previously, the target price had yet another raise to $19, while BMO Capital Markets analysts kept a Market Perform rating on IRT stock.

The Average True Range (ATR) for Independence Realty Trust Inc is set at 0.34, with the Price to Sales ratio for IRT stock in the period of the last 12 months amounting to 6.25. The Price to Book ratio for the last quarter was 1.20, with the Price to Cash per share for the same quarter was set at 0.19. Price to Free Cash Flow for IRT in the course of the last twelve months was 35.21.

How has IRT stock performed recently?

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 -2.50. With this latest performance, IRT shares gained by 5.65% in over the last four-week period, additionally plugging by 23.12% over the last 6 months – not to mention a rise of 4.47% 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 56.95, with the RSI for the last a single of trading hit 50.42, and the three-weeks RSI is set at 59.38 for Independence Realty Trust Inc [IRT]. The present Moving Average for the last 50 days of trading for this stock 17.30, while it was recorded at 18.65 for the last single week of trading, and 15.35 for the last 200 days.

Insider trade positions for Independence Realty Trust Inc [IRT]

The top three institutional holders of IRT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.5034%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $178.43 billion in IRT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $135.36 billion in IRT stock with ownership which is approximately 5.1238%.