Independence Realty Trust Inc. (NYSE:IRT) finished Wednesday with a subtraction of -$0.4 to close at $16.70, a downside of -2.34 percent. An average of 1,430,600 shares of common stock have been traded in the last five days. There was a fall of -$0.29 in the past week, and it reached a new high 10 times over the past 12 months. The last 20 days have seen an average of 1,888,700 shares traded, while the 50-day average volume stands at 1,804,766.
IRT stock has decreased by -2.96% in the last month. The company shares reached their 1-month lowest point of $16.57 on 12/22/22. With the stock rallying to its 52-week high on 04/21/22, shares of the company touched a low of $15.04 and a high of $28.42 in 52 weeks. It has reached a new high 8 times so far this year and lost -35.35% or -$9.13 in price. In spite of this, the price is down -41.24% from the 52-week high.
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IRT stock investors should be aware that Independence Realty Trust Inc. (IRT) stock had its last reported insider trading activity 22 days ago on Dec 07. In this transaction, the insider spent $287,483. Chair of Board & CEO, SCHAEFFER SCOTT, disposed of 155,830 shares at a price of $17.24 on Dec 06. The insider now owns more than $2,686,509 worth of shares.
Independence Realty Trust Inc. (IRT) has a trailing price-to-earnings (P/E) ratio of 27.79. The stock’s beta is 0.95. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 6.84, the price-to-book (PB) ratio at 1.03, and the price-to-cash flow ratio at 117.96.
The company has a payout ratio of 85.80%. The company’s most recent quarterly dividend payment was $0.14 a share, without any change from last year. Its latest increase dividend $0.02 reported on Wednesday May 18 2022.
Further, the company has a long term debt to equity ratio of 0.75 and a total debt to equity ratio of 0.75 for the quarter ending September 29. Its gross profit as reported stood at $51.58 million compared to revenue of $250.25 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 1.70%.
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $16.22 million in the quarter, while revenues of -$7.21 million were grew 29.1%. The analyst consensus anticipated Independence Realty Trust Inc.’s latest quarter earnings to come in at $0.01 per share, but it turned out to be $0.07, a 600.00% surprise. For the quarter, EBITDA amounted to $90.36 million. Shareholders own equity worth $224.07 million.
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 28 December was 35.10%, suggesting the stock is Neutral, with historical volatility in this time frame at 17.90%.
As of today, IRT’s price is $16.92 -1.71% or -$0.29 from its 5-day moving average. IRT is currently trading -4.90% lower than its 20-day SMA and -20.85% lower than its 100-day SMA. However, the stock’s current price level is +5.10% above the SMA50 and -33.47% below the SMA200.
The stochastic %K and %D were 17.49% and 19.09%, respectively, and the average true range (ATR) was 0.49. With the 14-day stochastic at 6.44% and the average true range at 0.51, the RSI (14) stands at 40.84%. The stock has reached -0.17 on the 9-day MACD Oscillator while the 14-day reading was at -0.51.
The consensus rating for Independence Realty Trust Inc. (IRT) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell IRT, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 3 analysts, while 7 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 $18.50 and $28.00, 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 $22.77.