Where Does Independence Realty Trust Inc. (IRT) Rank When It Comes To Price-To-Earnings Ratio?

Independence Realty Trust Inc. (NYSE:IRT) finished Friday with an addition of $0.26 to close at $22.45, an upside of 1.17 percent. An average of 542,660 shares of common stock have been traded in the last five days. There was a gain of $1.14 in the past week, and it reached a new high 67 times over the past 12 months. The last 20 days have seen an average of 630,385 shares traded, while the 50-day average volume stands at 715,218.

IRT stock has increased by 7.42% in the last month. The company shares reached their 1-month lowest point of $20.24 on 10/01/21. With the stock rallying to its 52-week high on 10/22/21, shares of the company touched a low of $11.17 and a high of $22.21 in 52 weeks. It has reached a new high 64 times so far this year and achieved 67.16% or $9.02 in price. In spite of this, the price is up 1.08% from the 52-week high.


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Valuation Metrics

Independence Realty Trust Inc. (IRT) has a trailing price-to-earnings (P/E) ratio of 116.93, which compares with the 21.25 for the broader industry and 39.54 for the sector. In the last five years, Independence Realty Trust Inc.’s PE ratio has ranged between 193.57 and 10.48. The stock’s beta is 0.89. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 12.49, the price-to-book (PB) ratio at 3.08.

Independence Realty Trust Inc. pays a $0.48 dividend per share annually. It offers a dividend yield of 2.14%. The company has a payout ratio of 245.90%. The company’s most recent quarterly dividend payment took place on Oct. 22, and it was $0.12 a share, without any change from last year. Its dividend has been increased for the last 1 year with the latest decrease dividend $0.06 reported on Monday June 15 2020.Dividends have grown by -25.00% each year over the last three years.

Further, the company has a long term debt to equity ratio of 1.36 and a total debt to equity ratio of 1.42 for the quarter ending June 29. Its gross profit as reported stood at $43.81 million compared to revenue of $211.91 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Independence Realty Trust Inc.’s return on assets was 1.10%. For the broader industry, ROE averaged 7.37 over the past year.

Earnings Surprise

In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $3.39 million in the quarter, while revenues were grew 76.7%. The analyst consensus anticipated Independence Realty Trust Inc.’s latest quarter earnings to come in at $0.03 per share, but it turned out to be $0.03, a 0.00% surprise. For the quarter, EBITDA amounted to $29.1 million. At the end of the quarter ending June 29, Independence Realty Trust Inc.’s stock balance sheet showed total debt was $1.08 billion. Shareholders own equity worth $105.11 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Independence Realty Trust Inc. (IRT) price momentum. RSI 9-day as of the close on 22 October was 75.21%, suggesting the stock is Overbought, with historical volatility in this time frame at 15.62%.

As of today, IRT’s price is $21.93 +5.35% or $1.14 from its 5-day moving average. IRT is currently trading +7.88% higher than its 20-day SMA and +27.27% higher than its 100-day SMA. However, the stock’s current price level is +12.19% above the SMA50 and +70.20% above the SMA200.

The stochastic %K and %D were 97.05% and 92.91%, respectively, and the average true range (ATR) was 0.45. With the 14-day stochastic at 93.33% and the average true range at 0.45, the RSI (14) stands at 70.26%. The stock has reached 0.58 on the 9-day MACD Oscillator while the 14-day reading was at 0.87.

Analyst Ratings

BMO Capital Markets launched coverage on Independence Realty Trust Inc. (NYSE: IRT) in its analyst report released on April 26, 2021. The firm assigned the stock a an Outperform rating. The consensus rating for Independence Realty Trust Inc. (IRT) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell IRT, while 5 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 3 others rate it as a “buy”.

What is IRT’s price target for the next 12 months?

Analysts predict a range of price targets between $19.00 and $25.00, with a median target of $22.00. Taking a look at these predictions, the average price target given by analysts for Independence Realty Trust Inc. (IRT) stock is $22.00.

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