Independence Realty Trust which can be found using ticker (IRT) now have 11 analysts in total covering the stock. The consensus rating is pointing to ‘Buy’. The target price High/Low ranges between 25 and 17 with the average target price sitting at $21.09. Now with the previous closing price of $16.75 this would imply there is now a potential upside of 25.9%. The 50 day moving average now sits at $18.02 and the 200 day moving average is $18.83. The company has a market capitalization of $3,783m. Company Website: https://www.irtliving.com
The potential market cap would be $4,764m based on the market consensus.
Independence Realty Trust (NYSE: IRT) is a real estate investment trust that owns and operates multifamily apartment properties across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT’s investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers. IRT aims to provide stockholders attractive risk-adjusted returns through diligent portfolio management, strong operational performance, and a consistent return on capital through distributions and capital appreciation.
The company has a dividend yield of 3.34% with the ex dividend date set at 30-3-2023 (DMY).
Other points of data to note are a P/E ratio of 31.58, revenue per share of 2.83 and a 0.89% return on assets.
