Independence Realty Trust, Inc. which can be found using ticker (IRT) now have 11 confirmed analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The range between the high target price and low target price is between 25 and 17 with the average target price sitting at $20.64. Given that the stocks previous close was at $16.24 this indicates there is a potential upside of 27.1%. The day 50 moving average is $16.99 and the 200 day moving average is $18.10. The market capitalization for the company is $3,716m. You can visit the company’s website by visiting: https://www.irtliving.com
The potential market cap would be $4,723m 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 3.45% with the ex dividend date set at 30-3-2023 (DMY).
Other points of data to note are a P/E ratio of 30.42, revenue per share of 2.83 and a 0.89% return on assets.
