Currently, there are 224.71M common shares owned by the public and among those 223.39M shares have been available to trade.
The company’s stock has a 5-day price change of -0.29% and 10.80% over the past three months. IRT shares are trading 11.31% year to date (YTD), with the 12-month market performance up to 3.81% higher. It has a 12-month low price of $11.52 and touched a high of $18.35 over the same period. IRT has an average intraday trading volume of 2.04 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.58%, 5.99%, and 13.31% respectively.
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Institutional ownership of Independence Realty Trust Inc (NYSE: IRT) shares accounts for 90.21% of the company’s 224.71M shares outstanding.
It has a market capitalization of $3.83B and a beta (3y monthly) value of 1.10. The earnings-per-share (ttm) stands at -$0.04. The company has a debt-to-equity ratio at 0.67. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.20% over the week and 1.67% over the month.
Earnings per share for the fiscal year are expected to increase by 452.84%, and 9.11% over the next financial year.
Looking at the support for the IRT, a number of firms have released research notes about the stock. Deutsche Bank stated their Buy rating for the stock in a research note on January 30, 2024, with the firm’s price target at $18. BMO Capital Markets coverage for the Independence Realty Trust Inc (IRT) stock in a research note released on December 15, 2023 offered a Underperform rating with a price target of $15. BMO Capital Markets was of a view on July 18, 2023 that the stock is Market Perform, while JMP Securities gave the stock Mkt Outperform rating on May 08, 2023, issuing a price target of $20. JMP Securities on their part issued Mkt Perform rating on January 30, 2023.
