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Daily High to Daily Low: Is It Safe to Buy Independence Realty Trust Inc. (IRT)?

Independence Realty Trust Inc. (NYSE:IRT) went up by 0.11% from its latest closing price compared to the recent 1-year high of $28.42. The company’s stock price has collected 1.49% of gains in the last five trading sessions.

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 29.48 x from its present earnings ratio. Plus, the 36-month beta value for IRT is at 1.00. Opinions of the stock are interesting as 6 analysts out of 12 who provided ratings for Independence Realty Trust Inc. declared the stock was a “buy,” while 3 rated the stock as “overweight,” 3 rated it as “hold,” and 0 as “sell.”

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IRT currently public float of 222.91M and currently shorts hold a 3.06% ratio of that float. Today, the average trading volume of IRT was 1.86M shares.

IRT’s Market Performance

IRT stocks went up by 1.49% for the week, with a monthly jump of 1.55% and a quarterly performance of 11.03%, while its annual performance rate touched -23.85%. The volatility ratio for the week stands at 2.62% while the volatility levels for the past 30 days are set at 3.06% for Independence Realty Trust Inc. The simple moving average for the period of the last 20 days is 3.92% for IRT stocks with a simple moving average of -12.30% for the last 200 days.

Analysts’ Opinion of IRT

Many brokerage firms have already submitted their reports for IRT stocks, with Deutsche Bank repeating the rating for IRT by listing it as a “Hold.” The predicted price for IRT in the upcoming period, according to Deutsche Bank is $19 based on the research report published on January 04th of the current year 2023.

Jefferies, on the other hand, stated in their research note that they expect to see IRT reach a price target of $17, previously predicting the price at $20. The rating they have provided for IRT stocks is “Hold” according to the report published on January 03rd, 2023.

Jefferies gave a rating of “Buy” to IRT, setting the target price at $20 in the report published on October 19th of the previous year.

IRT Trading at 2.24% 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 -37.65% of loss for the given period.

Volatility was left at 3.06%, however, over the last 30 days, the volatility rate increased by 2.62%, as shares surge +4.17% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +7.72% upper at present.

During the last 5 trading sessions, IRT rose by +1.49%, which changed the moving average for the period of 200-days by -34.95% in comparison to the 20-day moving average, which settled at $17.09. In addition, Independence Realty Trust Inc. saw 5.10% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at IRT starting from SCHAEFFER SCOTT, who sale 16,656 shares at the price of $17.26 back on Dec 07. After this action, SCHAEFFER SCOTT now owns 567,209 shares of Independence Realty Trust Inc., valued at $287,483 using the latest closing price.

SCHAEFFER SCOTT, the Chair of Board & CEO of Independence Realty Trust Inc., sale 155,830 shares at $17.24 during a trade that took place back on Dec 06, which means that SCHAEFFER SCOTT is holding 583,865 shares at $2,686,509 based on the most recent closing price.

Stock Fundamentals for IRT

Equity return is now at value 3.20, with 1.70 for asset returns.

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