The 36-month beta value for IRT is also noteworthy at 1.06. There are mixed opinions on the stock, with 2 analysts rating it as a “buy,” 5 rating it as “overweight,” 1 rating it as “hold,” and 0 rating it as “sell.”
The public float for IRT is 223.39M, and at present, short sellers hold a 3.19% of that float. The average trading volume of IRT on April 08, 2024 was 2.23M shares.
IRT) stock’s latest price update
Independence Realty Trust Inc (NYSE: IRT) has experienced a rise in its stock price by 5.17 compared to its previous closing price of 15.37. However, the company has seen a gain of 3.29% in its stock price over the last five trading days. Seeking Alpha reported 2024-04-07 that U.S. equity markets declined this week while benchmark interest rates jumped to the highest level since November after stronger-than-expected employment data showed robust hiring trends in early 2024. Stagflation has crept back into the economic discussion over the past several weeks amid a resurgence in oil prices alongside economic data showing stubbornly lukewarm inflationary trends. Following two straight weeks of gains which had lifted the benchmark to record-highs, the S&P 500 declined by 0.9% this week. Real estate equities were among the laggards this week.
IRT’s Market Performance
Independence Realty Trust Inc (IRT) has seen a 3.29% rise in stock performance for the week, with a 0.78% gain in the past month and a 8.64% surge in the past quarter. The volatility ratio for the week is 2.08%, and the volatility levels for the past 30 days are at 2.13% for IRT. The simple moving average for the past 20 days is 2.61% for IRT’s stock, with a 6.36% simple moving average for the past 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 “Buy.” The predicted price for IRT in the upcoming period, according to Deutsche Bank is $18 based on the research report published on January 30, 2024 of the current year 2024.
BMO Capital Markets, on the other hand, stated in their research note that they expect to see IRT reach a price target of $15, previously predicting the price at $14. The rating they have provided for IRT stocks is “Underperform” according to the report published on December 15th, 2023.
BMO Capital Markets gave a rating of “Market Perform” to IRT, setting the target price at $19 in the report published on July 18th of the previous year.
IRT Trading at 5.39% 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 -11.91% of loss for the given period.
Volatility was left at 2.13%, however, over the last 30 days, the volatility rate increased by 2.08%, as shares sank -0.65% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +5.89% upper at present.
During the last 5 trading sessions, IRT rose by +2.84%, which changed the moving average for the period of 200-days by -10.88% in comparison to the 20-day moving average, which settled at $15.75. In addition, Independence Realty Trust Inc saw 5.65% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for IRT
Current profitability levels for the company are sitting at:
- 0.32 for the present operating margin
- 0.59 for the gross margin
The net margin for Independence Realty Trust Inc stands at -0.03. The total capital return value is set at 0.04. Equity return is now at value -0.49, with -0.27 for asset returns.
Based on Independence Realty Trust Inc (IRT), the company’s capital structure generated 0.41 points at debt to capital in total, while cash flow to debt ratio is standing at 0.11. The debt to equity ratio resting at 0.71. The interest coverage ratio of the stock is 4.63.
Currently, EBITDA for the company is 363.57 million with net debt to EBITDA at 5.52. When we switch over and look at the enterprise to sales, we see a ratio of 9.12.
Conclusion
In summary, Independence Realty Trust Inc (IRT) has had a better performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
