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 target price High/Low ranges between 25 and 17 calculating the mean target price we have $20.45. Now with the previous closing price of $15.72 this would indicate that there is a potential upside of 30.1%. Also worth taking note is the 50 day moving average now sits at $16.68 and the 200 moving average now moves to $17.99. The company has a market capitalization of $3,633m. Company Website: https://www.irtliving.com
The potential market cap would be $4,726m 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 3.55% with the ex dividend date set at 30-3-2023 (DMY).
Other points of data to note are a P/E ratio of 29.74, revenue per share of 2.83 and a 0.89% return on assets.
