The stock of Independence Realty Trust Inc. (NYSE:IRT) decreased by -$0.05 on Wednesday to $15.98, down -0.28 percent. The last five days have seen an average of 962,857 shares of common stock traded. 13 times new highs were reached in the current year, with a fall of -$0.87. The average number of shares traded over the last 20 days was 1,484,764, while the average volume over the last 50 days totaled 1,721,688.
IRT stock dropped -8.29% since last month. On 08/16/23, the company’s shares reached a one-month low of $15.90. The stock touched a high of $22.26 on 02/02/23, after rallying from a low of $14.55 in 52 weeks. The price of IRT stock has declined by -5.19% or -$0.87 this year, reaching a new high 13 times. Still, the stock price is down -28.18% from the 52-week high.
Insider Transactions
IRT stock investors should be aware that Independence Realty Trust Inc. (IRT) stock had its last reported insider trading activity 252 days ago on Dec 07. On Dec 07, Chair of Board & CEO SCHAEFFER SCOTT sold 16,656 shares at $17.26 each. This transaction resulted in the insider making $287,483. On Dec 06, SCHAEFFER SCOTT sold 155,830 shares at a price of US$17.24. After the transaction, the insider now owns 583,865 shares.
Valuation Metrics
Independence Realty Trust Inc. (IRT) has a trailing price-to-earnings (P/E) ratio of 51.90. Beta for the stock is 0.99. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.51, the price-to-book (PB) ratio of 1.01, and the price-to-cash flow ratio of 50.09.
Company paid $0.16 per share in dividends, an increase of 14.29% from $0.14 last year. A $0.02 dividend increase was reported on Wednesday May 10 2023.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.74, and the total debt to equity ratio is 0.75. As far as profitability goes, gross margin for the trailing twelve months is 59.30% percent. Independence Realty Trust Inc.’s operating margin stood at 22.40% for the same period. Based on annual data, it had gross profit of $101.97 million and revenue of $628.52 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. IRT’s return on assets (ROA) during the last 12 months has been 1.10%. There was a 1.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 1.90%.
Earnings Surprise
According to Independence Realty Trust Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $163.96 million, while revenues rose by 5.61% to $161.37 million. It was predicted that Independence Realty Trust Inc.’s quarterly earnings would be $0.05, but it ended up being $0.05. EBITDA was $89.3 million for the quarter. At the end of Independence Realty Trust Inc.’s most recent quarter ended June 29, its total debt was $2.61 billion. Equity owned by shareholders amounts to $224.71 million.
Technical Picture
Here’s a quick look at Independence Realty Trust Inc.’s (IRT) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 25.69%, suggesting the stock is oversold, with a 16.60% historical volatility rate.
The stochastic %K and %D were 4.51% and 6.57% respectively, while the average true range (ATR) was 0.33. Based on the 14-day stochastic reading of 7.66%, the RSI (14) reading is 30.70%. On the 9-day MACD Oscillator, the stock is at -0.28, and the 14-day reading is at -0.45.
Analyst Ratings
Independence Realty Trust Inc. (NYSE: IRT) was downgraded by BMO Capital Markets to a a Market perform rating in its latest research report. The stock was previously rated as a an Outperform. Analysts have assigned Independence Realty Trust Inc. (IRT) an Overweight rating. IRT is a stock that is recommended for selling by 0 brokerage firms, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 6 others recommend it as a buy.
What is IRT’s price target for the next 12 months?
The current consensus forecast for the stock is between $17.00 and $25.00, with a median target price of $21.00. In analyzing these forecasts, the average price target given by analysts for Independence Realty Trust Inc. (IRT) is $20.78.
