Is Independence Realty Trust Inc. (IRT) Stock Cheap Or Risky?


As of Friday close, Independence Realty Trust Inc.’s (NYSE:IRT) stock was down -$0.59, moving down -3.67 percent to $15.49. The average number of shares traded per day over the past five days has been 3,050,920 shares. 2 times new highs have been achieved over the past 5 days, with a -$1.17 fall in that time frame. In the last twenty days, the average volume was 2,318,575, while in the previous 50 days, it was 2,129,036.

Since last month, IRT stock retreated -19.95%. Shares of the company fell to $15.34 on 03/17/23, the lowest level in the past month. A 52-week high of $28.42 was reached on 02/02/23 after having rallying from a 52-week low of $15.04. Since the beginning of this year, IRT’s stock price has dropped by -8.13% or -$1.37, and marked a new high 13 times. However, the stock has declined by -45.50% since its 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 101 days ago on Dec 07. SCHAEFFER SCOTT, the Chair of Board & CEO of the company, disposed of 16,656 shares for $17.26 on Dec 07. It resulted in a $287,483 divestment by the insider. SCHAEFFER SCOTT sold 155,830 shares at an average price of $17.24 on Dec 06. The insider now owns 583,865 shares following the transaction.

Valuation Metrics

Right now, Independence Realty Trust Inc. (IRT) has a P/E ratio of about 29.50. The stock’s beta is 1.03. Besides these, the trailing price-to-sales (P/S) ratio of 5.72, the price-to-book (PB) ratio of 0.96, and the price-to-cash flow ratio of 43.91 may also be considered.

The latest dividend of $0.14 per share was paid out, remained unchanged from last year’s $0.14.

Financial Health

According to company report, the long-term debt-to-equity ratio for the quarter ending December 30 was 0.73, and the total debt-to-equity ratio was 0.73. On the profitability front, the trailing twelve-month gross margin is 59.20% percent. In the year ended December 30, operating margins totaled 15.40%. Based on annual data, IRT earned $101.97 million in gross profit and brought in $628.52 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 1.50%. Return on equity (ROE) for the past 12 months was 3.30%.

According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. IRT’s revenue rose 52.75% to $160.6 million during the quarter, while net income inched up to $162.8 million. While analysts expected Independence Realty Trust Inc. to report $0.06 quarterly earnings, the actual figure was $0.15 per share. During the quarter, the company generated $95.71 million in EBITDA. The value of shareholders’ equity is $224.33 million.

Technical Picture

This quick technical analysis looks at Independence Realty Trust Inc.’s (IRT) price momentum. With a historical volatility rate of 25.62%, the RSI 9-day stood at 17.11% on 17 March.

With respect to its five-day moving average, the current Independence Realty Trust Inc. price is down by -7.02% percent or -$1.17. At present, IRT shares trade -18.34% below its 20-day simple moving average and -1.59% percent below its 100-day simple moving average. However, the stock is currently trading approximately -9.47% below its SMA50 and -34.11% below its SMA200.

Stochastic coefficient K was 7.97% and Stochastic coefficient D was 12.81%, while ATR was 0.54. Given the Stochastic reading of 5.31% for the 14-day period, the RSI (14) reading has been calculated as 23.95%. As of today, the MACD Oscillator reading stands at -0.71, while the 14-day reading stands at -1.10.

Analyst Ratings

JMP Securities launched its rating on Independence Realty Trust Inc. (NYSE: IRT) to a Mkt perform in a note to investors on January 30, 2023. Independence Realty Trust Inc. (IRT) has been rated Overweight by analysts. According to 0 brokerage firms, IRT is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate Independence Realty Trust Inc. stock as buy, with 6 recommending it as overweight.

With a median target price of $21.00, the current consensus forecast for the stock is $17.00 – $25.00. Based on these forecasts, analysts predict Independence Realty Trust Inc. (IRT) will achieve an average price target of $21.09.


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