Independence Realty Trust Inc [IRT] stock is trading at $16.00, down -1.66%. An important factor to consider is whether the stock is rising or falling in short-term value. The IRT shares have gain 4.10% over the last week, with a monthly amount glided 1.14%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Independence Realty Trust Inc [NYSE: IRT] stock has seen the most recent analyst activity on January 30, 2024, when Deutsche Bank initiated its Buy rating and assigned the stock a price target of $18. Previously, BMO Capital Markets downgraded its rating to Underperform on December 15, 2023, and elevated its price target to $15. On July 18, 2023, downgrade downgraded it’s rating to Market Perform but maintained its price target of $19 on the stock. JMP Securities upgraded its rating to a Mkt Outperform but stick to its price target of $20 on May 08, 2023. JMP Securities initiated its recommendation with a Mkt Perform. Deutsche Bank downgraded its rating to Hold for this stock on January 04, 2023, and downed its price target to $19. In a note dated January 03, 2023, Jefferies downgraded an Hold rating on this stock and revised its target price from $20 to $17.
Independence Realty Trust Inc [IRT] stock has fluctuated between $11.52 and $18.35 over the past year. Currently, Wall Street analysts expect the stock to reach $19.25 within the next 12 months. Independence Realty Trust Inc [NYSE: IRT] shares were valued at $16.00 at the most recent close of the market. An investor can expect a potential return of 20.31% based on the average IRT price forecast.
Analyzing the IRT fundamentals
Independence Realty Trust Inc [NYSE:IRT] reported sales of 660.98M for the trailing twelve months, which represents a growth of 2.61%. Gross Profit Margin for this corporation currently stands at 0.59% with Operating Profit Margin at 0.32%, Pretax Profit Margin comes in at -0.03%, and Net Profit Margin reading is -0.03%. To continue investigating profitability, this company’s Return on Assets is posted at -0.0, Equity is -0.01 and Total Capital is 0.04. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.71.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 15.85 points at the first support level, and at 15.69 for the second support level. However, for the 1st resistance point, the stock is sitting at 16.19, and for the 2nd resistance point, it is at 16.37.
Ratios To Look Out For
Considering the valuation of this stock, the price to sales ratio is 5.45, the price to book ratio is 1.05.
