half hour after open 10.67 +0.04 (0.38%) Could Independence Realty Trust Inc Change Direction After Reaching 52-Week High? The stock of Independence Realty Trust Inc (NYSEMKT:IRT) hit a new 52-week high and has $14.24 target or 34.00% above today’s $10.63 share price. The 8 months bullish chart indicates low risk for the $519.33 million company. The 1-year high was reported on Sep, 25 by Barchart.com. If the $14.24 price target is reached, the company will be worth $176.57M more. The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 1.33% or $0.14 on September 23, hitting $10.63. About 310,864 shares traded hands. Independence Realty Trust Inc (NYSEMKT:IRT) has risen 63.54% since February 22, 2016 and is uptrending. It has outperformed by 52.27% the S&P500. Analysts await Independence Realty Trust Inc (NYSEMKT:IRT) to report earnings on November, 4. They expect $0.22 EPS, up 10.00% or $0.02 from last year’s $0.2 per share. IRT’s profit will be $10.75 million for 12.08 P/E if the $0.22 EPS becomes a reality. After $0.22 actual EPS reported by Independence Realty Trust Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth. Out of 2 analysts covering Independence Realty Trust (NYSEMKT:IRT), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Independence Realty Trust has been the topic of 3 analyst reports since September 28, 2015 according to StockzIntelligence Inc. Deutsche Bank reinitiated the stock on September 28 with “Hold” rating. According to Zacks Investment Research, “Independence Realty Trust, Inc. is a real estate investment trust. It is focused on acquiring and owning well-located garden-style and mid-rise apartment properties. The Company owns apartment properties primarily in Arizona, Colorado, Georgia, Indiana, Texas and Virginia. Independence Realty Trust, Inc. is based in United States.” The institutional sentiment decreased to 1.66 in 2016 Q2. Its down 0.53, from 2.19 in 2016Q1. The ratio worsened, as 12 funds sold all Independence Realty Trust Inc shares owned while 20 reduced positions. 12 funds bought stakes while 41 increased positions. They now own 20.87 million shares or 6.21% less from 22.25 million shares in 2016Q1. Orinda Asset Management Llc holds 3.24% of its portfolio in Independence Realty Trust Inc for 411,035 shares. Taylor Frigon Capital Management Llc owns 116,304 shares or 0.99% of their US portfolio. Moreover, Ardsley Advisory Partners has 0.91% invested in the company for 641,769 shares. The Illinois-based Bard Associates Inc has invested 0.88% in the stock. Highland Capital Management Lp, a Texas-based fund reported 2.36 million shares. By Ellis Scott http://www.kentuckypostnews.com/cou...direction-after-reaching-52-week-high/186490/
http://www.businesswire.com/news/ho...Realty-Trust-Announces-Public-Offering-Common PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE MKT:IRT) (the "Company") today announced that it has commenced an underwritten public offering of 25,000,000 shares of common stock. The Company expects to grant the underwriters a 30-day option to purchase up to 3,750,000 additional shares of common stock. Citigroup is acting as the sole book-running manager of the offering. The Company intends to use the net proceeds from the offering to (i) repay in full the Company’s $40.0 million senior secured term loan facility, (ii) pay $43.0 million for the previously-announced internalization of the Company’s management, as described in the prospectus supplement referenced below, and (iii) repurchase up to 7,269,719 shares of the Company’s common stock held by subsidiaries of RAIT Financial Trust. Any remaining proceeds will be used to repay outstanding borrowings under the Company’s $325.0 million senior secured credit facility. A registration statement relating to the offered securities has been declared effective by the Securities and Exchange Commission. The offering will be made only by means of a prospectus supplement and an accompanying prospectus. Copies of the prospectus and the prospectus supplement relating to the offering, when available, may be obtained by contacting Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146). 9.81 -0.80 (-7.54%)
Wow, 25 million shares is some big dilution. The same thing happened to AMD but not as much dilution. It took a 20% hit before it started to trend back up. I might be a buyer after it bottoms out...gotta do some DD
I should've taken some profits at the high yesterday but got greedy with ex-div tomorrow. No rush, was expecting a pullback with the stock price at the upper bollinger, but didnt expect the drop we saw today.
As the price was stair-casing up the upper BB you did not necessarily play it wrong you just should have had a stop in, to lock in some profits, Sometimes these things come out of left field when everything appears good
http://www.com-unik.info/2016/09/28...ust-inc-irt-upgraded-by-thestreet-to-buy.html Independence Realty Trust Inc. (IRT) Upgraded by TheStreet to Buy Posted by Trent Williams on Sep 28th, 2016 // No Comments TheStreet upgraded shares of Independence Realty Trust Inc. (NYSEMKT:IRT) from a hold rating to a buy rating in a research report sent to investors on Monday morning. Other equities analysts have also issued research reports about the company. Zacks Investment Research raised Independence Realty Trust from a hold rating to a buy rating and set a $11.00 price objective on the stock in a research note on Wednesday, August 31st. FBR & Co boosted their price objective on Independence Realty Trust from $8.00 to $9.50 and gave the stock a mkt perform rating in a research note on Thursday, August 4th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Independence Realty Trust currently has a consensus rating of Buy and an average price target of $9.80. Independence Realty Trust (NYSEMKT:IRT) traded down 7.54% during trading on Monday, hitting $9.81. The stock had a trading volume of 2,386,550 shares. Independence Realty Trust has a one year low of $5.97 and a one year high of $10.70. The firm has a 50 day moving average of $9.74 and a 200-day moving average of $8.22. Independence Realty Trust (NYSEMKT:IRT) last issued its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.01. The firm earned $38.27 million during the quarter, compared to analyst estimates of $38.13 million. The business’s revenue was up 68.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 earnings per share. Analysts anticipate that Independence Realty Trust will post $0.87 earnings per share for the current fiscal year. The firm also recently announced a monthly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a $0.06 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.72 dividend on an annualized basis and a yield of 7.34%. Independence Realty Trust’s dividend payout ratio is currently 53.73%. A number of large investors have recently bought and sold shares of the stock. Empirical Financial Services LLC purchased a new stake in Independence Realty Trust during the second quarter valued at about $106,000. BlackRock Inc. increased its stake in Independence Realty Trust by 471.1% in the second quarter. BlackRock Inc. now owns 13,203 shares of the real estate investment trust’s stock valued at $108,000 after buying an additional 10,891 shares in the last quarter. BlackRock Advisors LLC increased its stake in Independence Realty Trust by 28.3% in the second quarter. BlackRock Advisors LLC now owns 21,852 shares of the real estate investment trust’s stock valued at $179,000 after buying an additional 4,821 shares in the last quarter. American International Group Inc. increased its stake in Independence Realty Trust by 23.1% in the second quarter. American International Group Inc. now owns 23,227 shares of the real estate investment trust’s stock valued at $190,000 after buying an additional 4,354 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in Independence Realty Trust by 30.2% in the second quarter. Nationwide Fund Advisors now owns 26,268 shares of the real estate investment trust’s stock valued at $215,000 after buying an additional 6,097 shares in the last quarter. About Independence Realty Trust Independence Realty Trust, Inc is an externally managed and advised apartment real estate investment trust (REIT). The Company’s business consists of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of real estate assets. It owns and operates a portfolio of garden style and mid-rise apartment communities in the Southeastern United States. Today is Ex-Div for IRT. 9.29 -0.46 (-4.72%)
Its funny how you recommended this stock as I was building my positions in different real estate ETFs like EPR, O, HPT and GOV for the dividend. At first I was simply lining it up as a swing trade, but now Im wondering if it doesn't have a position in my more long term holdings.
Hard to beat the 10% yield and not a red flag on Reits from what I have seen. Seems like you got in the $7's if I recall. You can always set a stop to lock in your profits and if it does not hit then going long would be a consideration.
Daily chart shows a possible bounce off the lower BB, backed up by RSI under 20. Weekly still shows near the upper however, so could go lower still, me thinks.
I have to admit, Ive used limit orders in the past but never stop orders. Ive begun doing my homework on trailing stops vs stop limit orders. Do you have a predefined set of parameters for your stops, or are they all individually tailored to each position? "The only stupid question is the one not asked"
My stops are predefined as you say. Even with a stop in place I will pull the trigger before hand if I think it is going to hit. I did this with C and LVLT some months ago and saved myself some money. Some traders are in favor of the trailing stops but that is not for me, just my preference
Latest Independence Realty Trust, Inc. (NYSEMKT:IRT) Target Price Suggests Stock Is Worth $10.08/Share By Sara Cox - October 3, 2016 Independence Realty Trust, Inc. (NYSEMKT:IRT) down -15.33% for the past 5 days, is under coverage of 7 analysts who collectively assign a buy rating on stock. 5 of the brokerages firms have a buy or better rating; the 0 sells versus 0 underperforms. The 6 stock analysts who cover the stock have an average PT at $10.08, with individual targets in the range of $9 to $11.5. The shares ended last trade at $9, implying that Wall Street analysts see shares climbing about 12 per cent in 12 months’ time. Insider Activity: Corporate insiders look optimistic about the outlook of the company stock that they seem to accumulate shares while they have 19.84 jumped so far this year. A Director at Independence Realty Trust, Inc. (IRT) purchased shares in a trading activity completed on Tuesday May 17, 2016. Tsao Sharon M. accumulated 1,000 shares in the company at a per-share price of $7.75 and ended up spending $7,750 in the investment. Tsao Sharon M. now have 8,000 shares in the stock after this transaction. A Chairman & CEO in the company, Schaeffer Scott, on Tuesday May 17, 2016 spent $92,040 from the purchase of 12,000 shares at a per-share price of $7.75. Insiders are expected to have better knowledge about the health and prospects of their company, which is why insiders’ move deserves attention. Independence Realty Trust, Inc. (NYSEMKT:IRT) Earnings to Watch Investors evaluating IRT stock at the current market price of $9/share should know the company will next release quarterly results for the September 2016 quarter. For the reporting quarter, equity analysts expect the stock to deliver $0.22 in earnings per share (EPS). That would represent a 10 per cent year-over-year increase. Revenue for the same quarter is predicted to arrive at $38.95M. Earnings Roundup: In the last fiscal quarter alone, Independence Realty Trust, Inc. generated nearly $38.33M in sales. For the prior quarter revenue for the stock hit $38.67M, with EPS at $0.21. Independence Realty Trust, Inc. (IRT) Analyst Coverage FBR Capital is a brokerage house chasing shares of Independence Realty Trust, Inc. (IRT), so its rating change is noteworthy. The company stock was initiated at Mkt Perform, wrote analysts at FBR Capital, in a research note issued to clients on Thursday April 07, 2016. There was another key research note provided by Wunderlich on Thursday April 10, 2014. The firm launched coverage on IRT at Buy. Price Momentum: Despite the -2.6% drop in value, the stock’s new closing price reflects a -15.89% fall in price from company’s one year high. The stock is currently holding above its 50-day SMA of $-5.7. Over the last 3 months, the shares of Independence Realty Trust, Inc. (IRT), have changed 14.81%.
After free falling for a few days upon announcement of the public offering, IRT may be finding some support. 8.69 +0.15 (1.76%)
Boy, did this trade ever teach me about stops. Although, I am glad I actually saw it coming this time, just got greedy and was planning to sell on the very day the news of the stock offering sent the price back down. I continued to hold, hoping for a recovery. Luckily, even If I get out tomorrow a few cents down from where the price is now, Ill still be up 10%, not counting the 4 dividends. I still like this stock, but anticipate a further drop before bucking the trend. Much rather take profits while i still have some left and reload at a better price.
Upcoming dividend information: Ex-Div-Date: 10/27/16 Payment Date: 11/15/16 Dividend: $0.06 Current Price: $8.70 Annual Yield: 8.28%
http://www.investing.com/equities/independence-realty-trust-inc-technical looks like a bottom was found and we are seeing some good support and setups on the technical side. 8.95 1.70%
Upcoming dividend information: Ex-Div-Date: 11/28/16 Payment Date: 12/15/16 Dividend: $0.06 Current Price: $8.77 Annual Yield: 8.21%
So I never actually got out of this position. Weathered the storm, and collecting divy's along the way. Set a stop to lock in profits and went about my day. Thanks again, @Tiptopptrader ! 9.12 -0.01 (-0.11%)
