The 36-month beta value for IRT is at 1.04. Analysts have varying views on the stock, with 2 analysts rating it as a “buy,” 5 rating it as “overweight,” 1 as “hold,” and 0 as “sell.”
The public float for IRT is 223.39M, and currently, shorts hold a 4.14% of that float. The average trading volume for IRT on April 23, 2024 was 2.29M shares.
IRT) stock’s latest price update
Independence Realty Trust Inc (NYSE: IRT)’s stock price has gone rise by 1.34 in comparison to its previous close of 15.62, however, the company has experienced a -0.19% decrease in its stock price over the last five trading days. Seeking Alpha reported 2024-04-20 that I have suffered many losses over the years. But fortunately, I have had many more winners than losers. I discuss some of my best REIT investments and lessons that they taught me.
IRT’s Market Performance
IRT’s stock has fallen by -0.19% in the past week, with a monthly drop of -2.04% and a quarterly rise of 0.70%. The volatility ratio for the week is 1.56% while the volatility levels for the last 30 days are 2.07% for Independence Realty Trust Inc The simple moving average for the past 20 days is -0.15% for IRT’s stock, with a 4.74% 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 1.86% 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 -13.73% of loss for the given period.
Volatility was left at 2.07%, however, over the last 30 days, the volatility rate increased by 1.56%, as shares sank -1.06% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +6.38% upper at present.
During the last 5 trading sessions, IRT fell by -0.19%, which changed the moving average for the period of 200-days by -12.10% in comparison to the 20-day moving average, which settled at $15.85. In addition, Independence Realty Trust Inc saw 3.46% 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 8.99.
Conclusion
In conclusion, Independence Realty Trust Inc (IRT) has had a mixed 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.
