IRT Stock Summary and Trading Ideas (Independence Realty Trust | NYSE:IRT)

Independence Realty Trust Inc is a real estate investment trust (REIT) that acquires, owns, operates, improves and manages multifamily apartment communities across non-gateway U.S. markets. It owns and operates multifamily apartment properties, across non-gateway U.S markets, including Louisville, Memphis, Atlanta, and Raleigh. The company is focused on gaining scale within key amenity-rich submarkets that offer school districts, retail, and various employment centers.

Independence Realty Trust trades on the NYSE stock market under the symbol IRT.

As of April 18, 2024, IRT stock price climbed to $15.57 with 55,660 million shares trading.

IRT has a beta of 1.41, meaning it tends to be more sensitive to market movements. IRT has a correlation of 0.34 to the broad based SPY ETF.

IRT has a market cap of $3.50 billion. This is considered a Mid Cap stock.

In the last 3 years, IRT stock traded as high as $28.42 and as low as $11.61.

The top ETF exchange traded funds that IRT belongs to (by Net Assets): VNQ, VTI, IJH, VB, IWM.

IRT has underperformed the market in the last year with a return of +0.1%, while the SPY ETF gained +22.8%. In the last 3 month period, IRT fell short of the market, returning +5.6%, while SPY returned +6.5%. However, in the most recent 2 weeks IRT has outperformed the stock market by returning +0.5%, while SPY returned -3.4%.

IRT support price is $15.26 and resistance is $15.86 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that IRT stock will trade within this expected range on the day.