Independence Realty Trust Inc. (NYSE: IRT)’s stock price has decreased by -1.97 compared to its previous closing price of 16.75. but the company has seen a -6.97% decline in its stock price over the last five trading sessions.
Is It Worth Investing in Independence Realty Trust Inc. (NYSE: IRT) Right Now?
Independence Realty Trust Inc. (NYSE: IRT) has a higher price-to-earnings ratio of 31.28x compared to its average ratio,, and the 36-month beta value for IRT is at 1.03. Analysts have varying views on the stock, with 6 analysts rating it as a “buy,” 2 rating it as “overweight,” 4 as “hold,” and 0 as “sell.”
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The average price suggested by analysts for IRT is $21.09, which is $4.67 above the current market price. The public float for IRT is 222.66M, and currently, shorts hold a 2.99% of that float. The average trading volume for IRT on March 16, 2023 was 2.03M shares.
IRT’s Market Performance
IRT stock saw a decrease of -6.97% in the past week, with a monthly decline of -14.97% and a quarterly a decrease of -8.27%. The volatility ratio for the week is 3.33%, and the volatility levels for the last 30 days are 2.69% for Independence Realty Trust Inc. (IRT). The simple moving average for the last 20 days is -8.31% for IRT stock, with a simple moving average of -12.96% for the last 200 days.
Analysts’ Opinion of IRT
Deutsche Bank, on the other hand, stated in their research note that they expect to see IRT reach a price target of $19, previously predicting the price at $22. The rating they have provided for IRT stocks is “Hold” according to the report published on January 04th, 2023.
Jefferies gave a rating of “Hold” to IRT, setting the target price at $17 in the report published on January 03rd of the current year.
IRT Trading at -8.91% 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 -42.22% of loss for the given period.
Volatility was left at 2.69%, however, over the last 30 days, the volatility rate increased by 3.33%, as shares sank -14.97% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -2.61% lower at present.
During the last 5 trading sessions, IRT fell by -6.97%, which changed the moving average for the period of 200-days by -29.80% in comparison to the 20-day moving average, which settled at $17.76. In addition, Independence Realty Trust Inc. saw -2.61% in overturn over a single year, with a tendency to cut further losses.
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
Current profitability levels for the company are sitting at:
- +14.38 for the present operating margin
- +18.59 for the gross margin
The net margin for Independence Realty Trust Inc. stands at +18.65. Equity return is now at value 3.30, with 1.80 for asset returns.
Conclusion
In conclusion, Independence Realty Trust Inc. (IRT) has had a bad performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
