During the last session, Independence Realty Trust Inc. (NYSE:IRT)’s traded shares were 0.72 million, with the beta value of the company hitting 0.93. At the end of the trading day, the stock’s price was $20.93, reflecting an intraday gain of 0.63% or $0.13. The 52-week high for the IRT share is $20.96, that puts it down -0.14 from that peak though still a striking 48.21% gain since the share price plummeted to a 52-week low of $10.84. The company’s market capitalization is $2.51B, and the average intraday trading volume over the past 10 days was 0.69 million shares, and the average trade volume was 844.34K shares over the past three months.
Independence Realty Trust Inc. (IRT) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.20. IRT has a Sell rating from 0 analyst(s) out of 8 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.03.
Independence Realty Trust Inc. (NYSE:IRT) trade information
Independence Realty Trust Inc. (IRT) registered a 0.63% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.63% in intraday trading to $20.93 this Friday, 09/03/21, hitting a weekly high. The stock’s 5-day price performance is 2.35%, and it has moved by 4.39% in 30 days. Based on these gigs, the overall price performance for the year is 72.98%. The short interest in Independence Realty Trust Inc. (NYSE:IRT) is 1.59 million shares and it means that shorts have 2.59 day(s) to cover.
The consensus price target of analysts on Wall Street is $21.71, which implies an increase of 3.59% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $18.00 and $25.00 respectively. As a result, IRT is trading at a discount of -19.45% off the target high and 14.0% off the low.
Independence Realty Trust Inc. (IRT) estimates and forecasts
Statistics show that Independence Realty Trust Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Independence Realty Trust Inc. (IRT) shares have gone up 44.34% during the last six months, with a year-to-date growth rate more than the industry average at 1.25% against 0.20. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 200.00% this quarter and then drop -71.40% in the quarter after that. In the rating firms’ projections, revenue will increase 7.90% compared to the previous financial year.
Revenue for the current quarter is expected to be $57.73 million as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $58.03 million by the end of Dec 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $52.18 million and $53.92 million respectively. In this case, analysts expect current quarter sales to grow by 10.60% and then jump by 7.60% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -27.50%. While earnings are projected to return -69.30% in 2021, the next five years will return 5.00% per annum.
Independence Realty Trust Inc. is due to release its next quarterly earnings between October 26 and November 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Independence Realty Trust Inc. is 0.48, with the dividend yield indicating at 2.29 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 6.26%.
Independence Realty Trust Inc. (NYSE:IRT)’s Major holders
Independence Realty Trust Inc. insiders own 0.92% of total outstanding shares while institutional holders control 96.49%, with the float percentage being 97.39%. Blackrock Inc. is the largest shareholder of the company, while 289 institutions own stock in it. As of Mar 30, 2021, the company held over 19.07 million shares (or 18.66% of all shares), a total value of $289.8 million in shares.
The next largest institutional holding, with 11.43 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 11.19% of outstanding shares. At the market price on Mar 30, 2021, these shares were valued at $173.75 million.
Also, the Mutual Funds coming in first place with the largest holdings of Independence Realty Trust Inc. (IRT) shares are iShares Core S&P Smallcap ETF and Vanguard Specialized-Real Estate Index Fund. Data provided on Jun 29, 2021 indicates that iShares Core S&P Smallcap ETF owns about 6.9 million shares. This amounts to just over 6.75 percent of the company’s overall shares, with a $125.7 million market value. The same data shows that the other fund manager holds slightly less at 4.29 million, or about 4.20% of the stock, which is worth about $72.18 million.