Independence Realty Trust, Inc. which can be found using ticker (IRT) have now 11 analysts in total covering the stock. The consensus rating is pointing to ‘Buy’. The range between the high target price and low target price is between 25 and 17 suggesting an average Analsyt target price of $20.55. Given that the stocks previous close was at $16.48 this now indicates there is a potential upside of 24.7%. Also worth taking note is the 50 day moving average now sits at $16.44 and the 200 day moving average is $17.89. The company has a market cap of $3,799m. You can visit the company’s website by visiting: https://www.irtliving.com
The potential market cap would be $4,738m based on the market consensus.
Independence Realty Trust, Inc. (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 3.4% with the ex dividend date set at 30-3-2023 (DMY).
Other points of data to note are a P/E ratio of 71.43, revenue per share of 2.87 and a 1.19% return on assets.
