Independence Realty Trust Inc [NYSE: IRT] traded at a high on Monday, posting a 1.30 gain after which it closed the day’ session at $19.44.
The results of the trading session contributed to over 5326956 shares changing hands. Over the past one week, the price volatility of Independence Realty Trust Inc stands at 2.18% while the volatility over the past one month is 1.82%.
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The market cap for IRT stock reached $4.60 billion, with 236.62 million shares outstanding and 234.95 million shares in the current float. Compared to the average trading volume of 1.91M shares, IRT reached a trading volume of 5326956 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 $20.95 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 1.82. 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 0.39, with the Price to Sales ratio for IRT stock in the period of the last 12 months amounting to 7.03. The Price to Book ratio for the last quarter was 1.29, with the Price to Cash per share for the same quarter was set at 0.20. Price to Free Cash Flow for IRT in the course of the last twelve months was 36.24.
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 1.20. With this latest performance, IRT shares dropped by -7.21% in over the last four-week period, additionally plugging by 22.57% over the last 6 months – not to mention a rise of 40.52% 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 42.00, with the RSI for the last a single of trading hit 41.80, and the three-weeks RSI is set at 44.47 for Independence Realty Trust Inc [IRT]. The present Moving Average for the last 50 days of trading for this stock 20.06, while it was recorded at 19.13 for the last single week of trading, and 17.36 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 0.02/share EPS, while the average EPS was predicted by analysts to be reported at 0.07/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -0.05. 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.
Insider trade positions for Independence Realty Trust Inc [IRT]
There are presently around $95.24%, or 95.94%% of IRT stock, in the hands of institutional investors. The top three institutional holders of IRT stocks are: BLACKROCK INC. with ownership of 33.04 million shares, which is approximately 14.7073%. VANGUARD GROUP INC, holding 32.63 million shares of the stock with an approximate value of $$611.57 million in IRT stocks shares; and VANGUARD GROUP INC, currently with $$248.29 million in IRT stock with ownership which is approximately 5.8984%.
