Independence Realty Trust, Inc IRT Stock Price, Quote & News

The company reported 20 cents in earnings per share excluding items, above the 17 cents expected by analysts. Revenue also beat expectations at $111 million compared with a $110.1 million forecast. Adjusted EBITDA came in at $48.9 million, ahead of the $45.7 consensus estimate. For the current quarter, the company said to expected between $2 and $2.06 in earnings per share for the current quarter, while analysts forecasted $1.96.

This multifamily REIT has all the right signs for major growth potential. Highlights important summary options statistics to provide a forward looking indication of investors’ sentiment.

Independence Realty Trust Announces Fourth Quarter 2022 Dividend

Investors have been hunting for the next possible weak link following three high-profile failures since March. One of the main positives that’s kept the economy out of a recession so far has been resilient spending by U.S. households. They’ve continued to spend even as manufacturing, the U.S. banking system and other parts of the economy have cracked under the pressure of high rates. The new data was in an investor update filed with the Securities and Exchange Commission on Tuesday. Quad leaders will not be going ahead with their meeting in Sydney next week, Australia’s prime minister Anthony Albanese said, according to Reuters. On a year-on-year basis however, non-oil domestic exports fell 9.8%, more than the economists’ expectations of 9.4%.

A default could rock the financial system because Treasurys are seen as the safest possible investment on Earth, and economists say it would likely cause widespread damage across the economy. The company said to expect between $106.5 million and $107.5 million in revenue and between $39 million and $40 million in adjusted EBITDA for the first fiscal quarter. Both of those estimates were below consensus expectations, with analysts polled by FactSet anticipating revenue at $11.8 million and adjusted EBITDA at $45.4 million. Home prices in China fell, with prices 0.2% lower year-on-year, compared to a 0.8% decline seen in the previous month, according to Reuters’ calculations. Of the 11 S&P 500 sectors, only health care, consumer staples and utilities were trading in negative territory during midday trading. Stocks surged to session highs during midday trading as hopes that an agreement will be reached on debt ceiling negotiations grew on Wall Street.

Barclays increased their target price on shares of Independence Realty Trust from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 1st. Finally, JMP Securities upgraded shares of Independence Realty Trust from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research note on Monday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Independence Realty Trust currently has an average rating of “Hold” and a consensus price target of $20.72. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors.

Analyst’s Opinion

The sector, which has performed the worse of the index’s 11, has dropped 3.6% week to date. By comparison, real estate, the next worst performer, has slipped a relatively modest 1.6%. © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer.

Independence Realty Trust, Inc is a real estate investment trust, which acquires, owns, operates, improves and manages multifamily apartment communities across non-gateway U.S. markets. Independence Realty Trust is an established real estate investment trust that focuses on acquiring, owning, operating, improving and managing multifamily apartment communities across non-gateway US markets. Their primary objective is to provide stockholders with risk-adjusted returns through a combination of portfolio management strategies and operational excellence. Other large investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund increased its position in shares of Independence Realty Trust by 4.9% during the third quarter. Oregon Public Employees Retirement Fund now owns 64,627 shares of the real estate investment trust’s stock worth $1,081,000 after acquiring an additional 3,027 shares during the period.

• Congressional leaders have been in tense negotiations with the White House over the approaching debt ceiling.
• MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
• For example, a price above its moving average is generally considered an upward trend or a buy.
• Quad leaders will not be going ahead with their meeting in Sydney next week, Australia’s prime minister Anthony Albanese said, according to Reuters.
• The company was founded on March 26, 2009 and is headquartered in Philadelphia, PA.

Sam Stovall, chief investment strategist at CFRA Research, said he expects that markets are stuck in neutral, even as the news becomes “more and more optimistic” on the debt ceiling. He cited recent trends in the 10-year Treasury yield, as well as strength indicators in the S&P 500. MarketBeat’s analysts have just released their top five short plays for May 2023.

Target shares fall after lackluster revenue growth

We are a financial media dedicated to providing stock recommendations, news, and real-time stock prices. The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 21st. Investors of record on Friday, June 30th will be given a $0.16 dividend.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… The company is scheduled to release its next quarterly earnings announcement on Wednesday, July 26th 2023.

Keysight guided revenue for the quarter to come in between $1.37 billion and $1.39 billion, a range that contains Wall Street’s consensus estimate of $1.38 billion. Target traded more than 2% lower in the premarket after the retailer reported total revenue of $25.32 billion for the first quarter, which represented year-over-year growth of just 1%. To be sure, that revenue figure, along with the company’s earnings per share, exceeded analyst expectations. Much scrutiny has been on Western Alliance Bancorp and other smaller and mid-sized banks, which has led to wild swings in their stock prices. Western Alliance recovered some of its losses after it gave an update on its deposit levels through May 12, among other data. It jumped 12.7% today, though it’s still down about 40% for the year so far.

This suggests a possible upside of 26.3% from the stock’s current price. View analysts price targets for IRT or view top-rated stocks among Wall Street analysts. 8 Wall Street research analysts have issued “buy,” “hold,” and “sell” ratings for Independence Realty Trust in the last twelve months. There are currently 3 hold ratings and 5 buy ratings for the stock.

Independence Realty Trust’s stock is owned by many different institutional and retail investors. These stocks are paving the way in their respective industries, making them fantastic picks for long-term investors. Liz Brumer-Smith
Tech stocks are what often come to mind when investors think of innovative stocks, but countless stocks are makin… Dow Theory keys off the divergences between these two stock market averages. Indexes in China fell, while Japan’s Nikkei 225 gained 0.8% to top for the first time since 2021.

Stocks rallied during early afternoon trading on growing hopes of a debt ceiling deal, but defensives continued to lag the market. The Technology Select Sector SPDR Fund (XLK) rose 1.2%, hitting a 52-week high. It’s the third straight session that the fund reached that milestone.

The company recently declared its quarterly dividend payment which will be paid out on Friday, July 21st – marking yet another significant milestone for Independence Realty Trust. Shareholders who owned shares before June 30th will be eligible for receiving a $0.16 dividend, marking an increase from their previous payout of $0.14 per share. This move represents an annualized yield of around 3.75% for current shareholders despite the economic challenges faced by real estate MLPs lately. 8 Wall Street analysts have issued 1-year price targets for Independence Realty Trust’s stock. On average, they predict the company’s stock price to reach $20.72 in the next twelve months.

The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. So, keep an eye on Independence Realty Trust’s performance in the upcoming quarter as it might pave the way for exciting trends within the real estate sector’s outlook.

Target’s stock is also rising, recently up 2.2%, even after the retailer said sales growth stalled and profit fell in the most recent quarter. The 50-day moving average is a short-term technical indicator of where an asset or an index is trading. A close below that level may signal a potential change toward the downside. In its fiscal second quarter, the company reported $2.12 in earnings per share without items and $1.39 billion in revenue. By comparison, analysts polled by FactSet expected $1.96 per share and revenue to come in slightly lower at $1.38 billion.

The consensus among Wall Street research analysts is that investors should “buy” IRT shares. Today’s low prices make these two REITs ideal buys for building long-term financial success. Liz Brumer-Smith
Real estate investment trusts (REITs) aren’t typically thought of as stocks that set you up for life.

Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes. Data may be intentionally delayed pursuant to supplier requirements. The Barchart Technical Opinion rating is a 56% Sell with a Weakening https://business-oppurtunities.com/the-ultimate-cv-versus-the-perfect-cv/ short term outlook on maintaining the current direction. Equity Residential’s (EQR) Q1 results are likely to benefit from its portfolio diversification efforts and technology investments amid a rebound in demand in the quarter.

Pearl River Capital LLC now owns 27,735 shares of the real estate investment trust’s stock valued at $464,000 after acquiring an additional 4,166 shares in the last quarter. Hedge funds and other institutional investors own 81.01% of the company’s stock. Independence Realty Trust, a real estate investment trust, has recently seen an increase in the number of large investors holding shares in the company.

The WSJ Dollar Index gained 0.3%, on pace to finish higher for the sixth session in the last eight trading days. Western Alliance said its deposits grew by more than $2 billion so far this quarter. Its shares gained, along with those of PacWest, Comerica and Zions. Stocks are higher in Wednesday afternoon trading after falling Tuesday, as the deadline nears for lawmakers to resolve the debt-ceiling standoff.

The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season. As an investor, you want to buy stocks with the highest probability of success. That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. It allows the user to better focus on the stocks that are the best fit for his or her personal trading style.