What You Didn’t Know About Independence Realty Trust Inc (NYSE: IRT) This Week

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Independence Realty Trust Inc (NYSE:IRT) traded at $17.70 at close of the session on Monday, June 10, made an upward move of 2.14% on its previous day’s price.

Looking at the stock we see that its previous close was $17.33 . In terms of its 52-week price range, IRT has a high of $18.35 and a low of $11.52. The company’s stock has gained about 4.61% over that past 30 days.

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Independence Realty Trust Inc has a market cap of $3.98 billion. With its Forward Dividend at 0.28 and a yield of 1.60%, the company’s investors could be anxious for the IRT stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $0.07, with the EPS growth for the year raised at $0.28 for 2024 and $0.29 for next year. These figures represent 450.00% and 3.60% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $161.56 million, with a low of $158 million and a high of $166.16 million. The median projection represents growth adding up to -1.50% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $650.9 million, or -1.50% down from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the IRT stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.

Looking further, we note the current price level is 4.99% off its SMA20 and 8.47% from its 50-day simple moving average. The RSI (14) is pointing at 68.88 while the volatility over the past week is 2.53% and jumps to 1.88% over the past one month. The beta value is 1.10, while the average true range (ATR) is currently pointing at 0.38.

Coming back to Independence Realty Trust Inc (NYSE:IRT), we note that the average 3-month trading volume was 2.16 million. Current shares outstanding are 224.71 million.

The insiders hold 0.78% of the company’s shares while institutions hold 90.09%. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 15.69% up in year-to-date price movement.

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