Moreover, the 36-month beta value for IRT is 1.14. Analysts have varying opinions on the stock, with 2 analysts rating it as a “buy,” 5 as “overweight,” 1 as “hold,” and 0 as “sell.”
The public float for IRT is 234.95M and currently, short sellers hold a 9.58% of that float. On October 23, 2024, IRT’s average trading volume was 2.03M shares.
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IRT) stock’s latest price update
Independence Realty Trust Inc (NYSE: IRT) has experienced a rise in its stock price by 0.36 compared to its previous closing price of 19.45. However, the company has seen a fall of -1.11% in its stock price over the last five trading days. seekingalpha.com reported 2024-10-16 that Average REIT short interest fell 8 basis points in September to 3.7% of shares outstanding, per S&P Global Market Intelligence data. The hotel sector followed with a 60-basis point drop, while the office sector remained the most-shorted at 5.3% of shares outstanding. Wheeler Real Estate Investment Trust logged the largest increase in short interest, up 16 percentage points to 32.4% of shares outstanding.
IRT’s Market Performance
Independence Realty Trust Inc (IRT) has experienced a -1.11% fall in stock performance for the past week, with a -7.71% drop in the past month, and a 3.23% rise in the past quarter. The volatility ratio for the week is 1.75%, and the volatility levels for the past 30 days are at 1.91% for IRT. The simple moving average for the past 20 days is -1.13% for IRT’s stock, with a 11.60% 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 -2.81% 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 -7.92% of loss for the given period.
Volatility was left at 1.91%, however, over the last 30 days, the volatility rate increased by 1.75%, as shares sank -7.14% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -0.05% lower at present.
During the last 5 trading sessions, IRT fell by -1.11%, which changed the moving average for the period of 200-days by +31.18% in comparison to the 20-day moving average, which settled at $19.74. In addition, Independence Realty Trust Inc saw 27.58% 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:
- 0.31 for the present operating margin
- 0.42 for the gross margin
The net margin for Independence Realty Trust Inc stands at -0.01. The total capital return value is set at 0.04. Equity return is now at value -0.25, with -0.14 for asset returns.
Based on Independence Realty Trust Inc (IRT), the company’s capital structure generated 0.39 points at debt to capital in total, while cash flow to debt ratio is standing at 0.12. The debt to equity ratio resting at 0.65. The interest coverage ratio of the stock is 5.19.
Currently, EBITDA for the company is 363.57 million with net debt to EBITDA at 5.08. When we switch over and look at the enterprise to sales, we see a ratio of 10.72.
Conclusion
To wrap up, the performance of Independence Realty Trust Inc (IRT) has been mixed in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. 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.
