During the recent session, Independence Realty Trust Inc. (NYSE:IRT)’s traded shares were 2.57 million, with the beta value of the company hitting 0.87. At the last check today, the stock’s price was $22.70, reflecting an intraday gain of 1.18% or $0.26. The 52-week high for the IRT share is $28.42, that puts it down -25.2 from that peak though still a striking 30.88% gain since the share price plummeted to a 52-week low of $15.69. The company’s market capitalization is $5.03B, and the average trade volume was 4.94 million shares over the past three months.
Independence Realty Trust Inc. (IRT) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.20. IRT has a Sell rating from 0 analyst(s) out of 11 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 8 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 $0.07.
Independence Realty Trust Inc. (NYSE:IRT) trade information
Independence Realty Trust Inc. (IRT) registered a 1.18% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 1.18% in intraday trading to $22.70 this Thursday, 05/12/22, hitting a weekly high. The stock’s 5-day price performance is -5.52%, and it has moved by -15.92% in 30 days. Based on these gigs, the overall price performance for the year is 39.03%.
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 down -9.08% during the last six months, with a year-to-date growth rate more than the industry average at 25.00% against 9.80. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -50.00% this quarter and then jump 1,100.00% in the quarter after that. In the rating firms’ projections, revenue will increase 12.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $63.81 million as predicted by 6 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $62.38 million by the end of Mar 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $53.92 million and $54.81 million respectively. In this case, analysts expect current quarter sales to grow by 18.30% and then jump by 13.80% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 33.00%. While earnings are projected to return 160.30% in 2022, the next five years will return 5.00% per annum.
Independence Realty Trust Inc. is due to release its next quarterly earnings between April 26 and May 02. 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 2.14 percent, continuing the trend of increasing dividends in recent years.
Independence Realty Trust Inc. (NYSE:IRT)’s Major holders
Independence Realty Trust Inc. insiders own 0.63% of total outstanding shares while institutional holders control 64.77%, with the float percentage being 65.18%. Blackrock Inc. is the largest shareholder of the company, while 503 institutions own stock in it. As of Dec 30, 2021, the company held over 19.73 million shares (or 8.93% of all shares), a total value of $509.56 million in shares.
The next largest institutional holding, with 12.23 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 5.53% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $315.88 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 Dec 30, 2021 indicates that iShares Core S&P Smallcap ETF owns about 7.33 million shares. This amounts to just over 3.32 percent of the company’s overall shares, with a $189.29 million market value. The same data shows that the other fund manager holds slightly less at 4.81 million, or about 2.18% of the stock, which is worth about $113.61 million.