Independence Realty Trust (IRT) Stock Forecast & Price Target

$18.89

+0.40 (+2.16%)

(As of 07/26/2024 ET)

Independence Realty Trust - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy
Based on 5 Analyst Ratings

Based on 5 Wall Street analysts who have issued ratings for Independence Realty Trust in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 5 analysts, 1 has given a sell rating, and 4 have given a buy rating for IRT.

Consensus Price Target

$17.00
-10.01% Downside

High Forecast	$18.00
Average Forecast	$17.00
Low Forecast	$15.00

According to the 5 analysts' twelve-month price targets for Independence Realty Trust, the average price target is $17.00. The highest price target for IRT is $18.00, while the lowest price target for IRT is $15.00. The average price target represents a forecasted downside of -10.01% from the current price of $18.89.

Type	Current Forecast 7/28/23 to 7/27/24	1 Month Ago 6/28/23 to 6/27/24	3 Months Ago 4/29/23 to 4/28/24	1 Year Ago 7/28/22 to 7/28/23
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	4 Buy rating(s)	4 Buy rating(s)	4 Buy rating(s)	5 Buy rating(s)
Hold	0 Hold rating(s)	0 Hold rating(s)	0 Hold rating(s)	4 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$17.00	$17.00	$17.00	$19.89
Forecasted Upside	-10.01% Downside	8.63% Upside	8.63% Upside	16.04% Upside

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IRT Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

IRT Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Independence Realty Trust Stock vs. The Competition

Type	Independence Realty Trust	Finance Companies	S&P 500
Consensus Rating Score	2.60	2.45	2.50
Consensus Rating	Moderate Buy	Hold	Moderate Buy
Predicted Upside	-10.01% Downside	35.46% Upside	9.15% Upside
News Sentiment Rating	Positive News	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Action	Rating	Price Target	Upside/Downside on Report Date
3/6/2024	JMP Securities 2 of 5 stars	Boost Target	Market Outperform ➝ Market Outperform	$15.00 ➝ $17.00	+6.78%
2/20/2024	Barclays 2 of 5 stars	Lower Target	Overweight ➝ Overweight	$22.00 ➝ $18.00	+15.68%
2/16/2024	Royal Bank of Canada 4 of 5 stars	Boost Target	Outperform ➝ Outperform	$16.00 ➝ $17.00	+9.54%
1/30/2024	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Buy	$18.00	+18.03%
12/15/2023	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Market Perform ➝ Underperform	$14.00 ➝ $15.00	-6.25%
2/23/2023	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Neutral	$18.50 ➝ $20.00	+11.98%
1/11/2023	BTIG Research Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Buy	$27.00 ➝ $21.00	+25.75%
1/2/2023	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Buy ➝ Hold	$20.00 ➝ $17.00	+0.83%
12/7/2022	KeyCorp Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Overweight	$25.00 ➝ $20.00	+16.14%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 06:24 AM ET.

IRT Forecast - Frequently Asked Questions

What is Independence Realty Trust's forecast for 2024?: According to the research reports of 5 Wall Street equities research analysts, the average twelve-month stock price forecast for Independence Realty Trust is $17.00, with a high forecast of $18.00 and a low forecast of $15.00.
Should I buy or sell Independence Realty Trust stock right now?: 5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Independence Realty Trust in the last twelve months. There is currently 1 sell rating and 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" IRT shares.
Does Independence Realty Trust's stock price have much upside?: According to analysts, Independence Realty Trust's stock has a predicted upside of 8.63% based on their 12-month stock forecasts.
Do Wall Street analysts like Independence Realty Trust more than its competitors?: Analysts like Independence Realty Trust more than other "finance" companies. The consensus rating for Independence Realty Trust is Moderate Buy while the average consensus rating for "finance" companies is Hold. Learn more on how IRT compares to other companies.