Independence Realty Trust Inc. (NYSE: IRT) is -0.95% lower on its value in year-to-date trading and has touched a low of $14.55 and a high of $23.61 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The IRT stock was last observed hovering at around $17.08 in the last trading session, with the day’s loss setting it -0.38% off its average median price target of $20.00 for the next 12 months. It is also 33.2% off the consensus price target high of $25.00 offered by 12 analysts, but current levels are -4.37% lower than the price target low of $16.00 for the same period.
Currently trading at $16.70, the stock is -0.34% and 2.85% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.3 million and changing -2.22% at the moment leaves the stock -4.39% off its SMA200. IRT registered -25.28% loss for a year compared to 6-month loss of -4.10%. The firm has a 50-day simple moving average (SMA 50) of $9.62 and a 200-day simple moving average (SMA200) of $16.66.
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The stock witnessed a 6.23% gain in the last 1 month and extending the period to 3 months gives it a -8.44%, and is 0.30% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.25% over the week and 2.43% over the month.
Independence Realty Trust Inc. (IRT) has around 923 employees, a market worth around $3.75B and $639.50M in sales. Current P/E ratio is 73.25 and Fwd P/E is 55.30. Profit margin for the company is 8.00%. Distance from 52-week low is 14.78% and -29.26% from its 52-week high. The company has generated returns on investments over the last 12 months (1.50%).
Independence Realty Trust Inc. (IRT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Independence Realty Trust Inc. (IRT) is a “Overweight”. 12 analysts offering their recommendations for the stock have an average rating of 1.90, where 3 rate it as a Hold and 2 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Independence Realty Trust Inc. is expected to release its quarterly report on 07/25/2023.The EPS is expected to grow by 29.40% this year
Independence Realty Trust Inc. (IRT) Top Institutional Holders
The shares outstanding are 224.23M, and float is at 222.66M with Short Float at 2.76%.
Independence Realty Trust Inc. (IRT) Insider Activity
A total of 34 insider transactions have happened at Independence Realty Trust Inc. (IRT) in the last six months, with sales accounting for 23 and purchases happening 11 times. The most recent transaction is an insider sale by SCHAEFFER SCOTT, the company’s Chair of Board & CEO. SEC filings show that SCHAEFFER SCOTT sold 16,656 shares of the company’s common stock on Dec 07 at a price of $17.26 per share for a total of $0.29 million. Following the sale, the insider now owns 0.57 million shares.
Independence Realty Trust Inc. disclosed in a document filed with the SEC on Dec 06 that SCHAEFFER SCOTT (Chair of Board & CEO) sold a total of 155,830 shares of the company’s common stock. The trade occurred on Dec 06 and was made at $17.24 per share for $2.69 million. Following the transaction, the insider now directly holds 0.58 million shares of the IRT stock.
Independence Realty Trust Inc. (IRT): Who are the competitors?
The company’s main competitors (and peers) include UDR Inc. (UDR) that is trading -17.47% down over the past 12 months and AvalonBay Communities Inc. (AVB) that is -15.74% lower over the same period. Equity Residential (EQR) is -21.35% down on the 1-year trading charts.