The share price of Independence Realty Trust Inc. (NYSE:IRT) fell to $17.77 per share on Thursday from $18.00. While Independence Realty Trust Inc. has underperformed by -1.28%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, IRT fell by -13.70%, with highs and lows ranging from $28.42 to $17.98, whereas the simple moving average fell by -23.64% in the last 200 days.
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On May 09, 2022, BTIG Research started tracking Independence Realty Trust Inc. (NYSE: IRT) recommending Buy. A report published by Jefferies on April 22, 2022, Initiated its previous ‘Buy’ rating for IRT. Barclays also rated IRT shares as ‘Overweight’, setting a target price of $30 on the company’s shares in an initiating report dated January 18, 2022. RBC Capital Mkts initiated its ‘Outperform’ rating for IRT, as published in its report on January 10, 2022. BMO Capital Markets’s report from December 17, 2021 suggests a price prediction of $28 for IRT shares, giving the stock a ‘Outperform’ rating. BMO Capital Markets also rated the stock as ‘Outperform’.
Analysis of Independence Realty Trust Inc. (IRT)
A return on investment can be expected regardless of IRT’s performance over the next quarter with the dividend set at $0.56 per share. Further, the quarter-over-quarter increase in sales is 169.20%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Independence Realty Trust Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of 3.80% is sufficient for you to turn a profit off your investment.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and IRT is recording an average volume of 1.81M. On a monthly basis, the volatility of the stock is set at 2.55%, whereas on a weekly basis, it is put at 2.67%, with a loss of -4.92% over the past seven days. Furthermore, long-term investors anticipate a median target price of $26.17, showing growth from the present price of $17.77, which can serve as yet another indication of whether IRT is worth investing in or should be passed over.
How Do You Analyze Independence Realty Trust Inc. Shares?
A leading company in the REIT – Residential sector, Independence Realty Trust Inc. (IRT) is based in the USA. When comparing Independence Realty Trust Inc. shares with other companies under Real Estate, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 27.98, there is a growth in quarterly earnings of -199.00%.
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 84.00% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in IRT shares?
The recent increase in stakes in IRT appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in IRT has increased by 33.22% in the first quarter. The company now owns 31,751,013 shares of the stock, with a value of $617.56 million, following the purchase of 7,917,058 additional shares during the last quarter. BlackRock Fund Advisors made another decreased to its shares in IRT during the first quarter, downing its stake by -26.77%. During the last quarter, the company picked up -9,319,240 additional shares for a total stake of worth $495.95 million, bringing number of shares owned by the company to 25,498,487.
During the first quarter, SSgA Funds Management, Inc. added a 533,001 position in IRT. Wellington Management Co. LLP sold an additional -0.31 million shares in the last quarter, decreasing its holdings by -4.11%, now holding 7.19 million shares worth $139.79 million. At the end of the first quarter, AllianceBernstein LP increased its IRT holdings by 3.26% and now holds 4.97 million IRT shares valued at $96.75 million with the added 0.16 million shares during the period. IRT shares are owned by institutional investors to the tune of 84.00% at present.