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Is a Correction Looming Ahead for Independence Realty Trust Inc. (IRT)

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Independence Realty Trust Inc. (NYSE:IRT) went down by -1.11% from its latest closing price compared to the recent 1-year high of $25.98. The company’s stock price has collected -3.47% of loss in the last five trading sessions. Press Release reported on 12/16/21 that Independence Realty Trust and Steadfast Apartment REIT Complete Strategic Merger

Is It Worth Investing in Independence Realty Trust Inc. (NYSE :IRT) Right Now?

Independence Realty Trust Inc. (NYSE:IRT) scored a price-to-earnings ratio above its average ratio, recording 83.16 x from its present earnings ratio. Plus, the 36-month beta value for IRT is at 0.95. Opinions of the stock are interesting as 6 analysts out of 10 who provided ratings for Independence Realty Trust Inc. declared the stock was a “buy,” while 2 rated the stock as “overweight,” 2 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $27.31, which is $2.24 above the current price. IRT currently public float of 104.03M and currently shorts hold a 3.25% ratio of that float. Today, the average trading volume of IRT was 1.75M shares.

IRT’s Market Performance

IRT stocks went down by -3.47% for the week, with a monthly drop of -2.20% and a quarterly performance of 14.05%, while its annual performance rate touched 81.85%. The volatility ratio for the week stands at 2.61% while the volatility levels for the past 30 days are set at 3.53% for Independence Realty Trust Inc.. The simple moving average for the period of the last 20 days is -1.25% for IRT stocks with a simple moving average of 18.31% for the last 200 days.

Analysts’ Opinion of IRT

Many brokerage firms have already submitted their reports for IRT stocks, with Compass Point repeating the rating for IRT by listing it as a “Buy.” The predicted price for IRT in the upcoming period, according to Compass Point is $27.75 based on the research report published on January 10th of the current year 2022.

RBC Capital Mkts, on the other hand, stated in their research note that they expect to see IRT reach a price target of $28. The rating they have provided for IRT stocks is “Outperform” according to the report published on January 10th, 2022.

BMO Capital Markets gave a rating of “Outperform” to IRT, setting the target price at $28 in the report published on December 17th of the previous year.

IRT Trading at -2.58% from the 50-Day Moving Average

After a stumble in the market that brought IRT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -7.81% of loss for the given period.

Volatility was left at 3.53%, however, over the last 30 days, the volatility rate increased by 2.61%, as shares sank -3.97% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +1.35% upper at present.

During the last 5 trading sessions, IRT fell by -3.47%, which changed the moving average for the period of 200-days by +54.62% in comparison to the 20-day moving average, which settled at $24.20. In addition, Independence Realty Trust Inc. saw -7.28% in overturn over a single year, with a tendency to cut further losses.

Stock Fundamentals for IRT

Current profitability levels for the company are sitting at:

  • +18.25 for the present operating margin
  • +27.49 for the gross margin

The net margin for Independence Realty Trust Inc. stands at +3.61. The total capital return value is set at 2.34, while invested capital returns managed to touch 0.47. Equity return is now at value 4.00, with 1.60 for asset returns.

Based on Independence Realty Trust Inc. (IRT), the company’s capital structure generated 133.98 points at debt to equity in total, while total debt to capital is 57.26. Total debt to assets is 54.68, with long-term debt to equity ratio resting at 127.14. Finally, the long-term debt to capital ratio is 54.34.

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When we switch over and look at the enterprise to sales, we see a ratio of 15.38, with the company’s debt to enterprise value settled at 0.43.

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