Independence Realty Trust (IRT) Stock Price, News & Analysis

Company Overview

Independence Realty Trust, Inc. (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL. IRT's investment strategy is focused on gaining scale near major employment centers within key amenity rich submarkets that offer good school districts and high-quality retail. 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.

Key Stats

• Today's Range: $20.10 to $20.34
• 50-Day Range: $19.06 to $22.01
• 52-Week Range: $14.07 to $22.26
• Volume: 556,556 shs
• Average Volume: 2.21 million shs
• Market Capitalization: $4.57 billion
• P/E Ratio: 75.26
• Dividend Yield: 3.15%
• Price Target: $21.14
• Consensus Rating: Moderate Buy

Independence Realty Trust Stock Analysis - MarketRank™

Independence Realty Trust scored higher than 50% of companies evaluated by MarketBeat, and ranked 623rd out of 936 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.4 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Independence Realty Trust has received a consensus rating of Moderate Buy. The company's average rating score is 2.71, and is based on 5 buy ratings, 2 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Independence Realty Trust has only been the subject of 2 research reports in the past 90 days.

Earnings and Valuation

• Score: 1.3 / 5
• Proj. Earnings Growth: 4.31%

Earnings Growth

Earnings for Independence Realty Trust are expected to grow by 4.31% in the coming year, from $1.16 to $1.21 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Independence Realty Trust is 75.26, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 113.22.

Price to Earnings Ratio vs. Sector

The P/E ratio of Independence Realty Trust is 75.26, which means that it is trading at a more expensive P/E ratio than the Finance sector average P/E ratio of about 24.94.

Price to Earnings Growth Ratio

Independence Realty Trust has a PEG Ratio of 3.07. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Independence Realty Trust has a P/B Ratio of 1.28. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 0.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

12.59% of the outstanding shares of Independence Realty Trust have been sold short.

Short Interest Ratio / Days to Cover

Independence Realty Trust has a short interest ratio ("days to cover") of 14.4, which indicates bearish sentiment.

Change versus previous month

Short interest in Independence Realty Trust has recently increased by 0.50%, indicating that investor sentiment is decreasing.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Yield

Independence Realty Trust pays a meaningful dividend of 3.17%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Independence Realty Trust does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Independence Realty Trust is 237.04%. Payout ratios above 75% are not desirable because they may not be sustainable.

Dividend Sustainability

Based on earnings estimates, Independence Realty Trust will have a dividend payout ratio of 52.89% next year. This indicates that Independence Realty Trust will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 2.8 / 5
• Environmental Score: -3.54

Percentage of Shares Shorted

12.59% of the outstanding shares of Independence Realty Trust have been sold short.

Short Interest Ratio / Days to Cover

Independence Realty Trust has a short interest ratio ("days to cover") of 14.4, which indicates bearish sentiment.

Change versus previous month

Short interest in Independence Realty Trust has recently increased by 0.50%, indicating that investor sentiment is decreasing.

News and Social Media

• Score: 2.5 / 5
• News Sentiment: 1.44

News Sentiment

Independence Realty Trust has a news sentiment score of 1.44. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.67 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 2 news articles for Independence Realty Trust this week, compared to 4 articles on an average week.

Search Interest

Only 2 people have searched for IRT on MarketBeat in the last 30 days. This is a decrease of -67% compared to the previous 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Independence Realty Trust insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 0.71% of the stock of Independence Realty Trust is held by insiders.

Percentage Held by Institutions

88.25% of the stock of Independence Realty Trust is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

IRT Stock Analysis - Frequently Asked Questions

How have IRT shares performed this year?

Independence Realty Trust's stock was trading at $15.30 at the beginning of the year. Since then, IRT shares have increased by 32.8% and is now trading at $20.32.
View the best growth stocks for 2024 here.

How were Independence Realty Trust's earnings last quarter?

Independence Realty Trust, Inc. (NYSE:IRT) announced its earnings results on Wednesday, February, 15th. The real estate investment trust reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.29 by $0.14. The real estate investment trust earned $162.80 million during the quarter, compared to analyst estimates of $163.65 million. Independence Realty Trust had a negative trailing twelve-month return on equity of 0.01% and a negative net margin of 0.03%.

Who are Independence Realty Trust's major shareholders?

Independence Realty Trust's top institutional investors include State Street Corp (5.53%), Wellington Management Group LLP (5.05%), Jennison Associates LLC (2.60%) and Geode Capital Management LLC (2.60%).
View institutional ownership trends.

How do I buy shares of Independence Realty Trust?

Shares of IRT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Independence Realty Trust own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Independence Realty Trust investors own include NVIDIA (NVDA), Meta Platforms (META), Advanced Micro Devices (AMD), Netflix (NFLX), JPMorgan Chase & Co. (JPM), Tesla (TSLA) and Home Depot (HD).

Company Calendar

• Last Earnings: 2/15/2023
• Ex-Dividend for 10/18 Dividend: 9/30/2024
• Dividend Payable: 10/18/2024
• Today: 12/25/2024
• Ex-Dividend for 1/17 Dividend: 12/31/2024
• Fiscal Year End: 12/31/2024
• Dividend Payable: 1/17/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Finance
• Industry: Real estate investment trusts
• Sub-Industry: Trading
• Current Symbol: NYSE:IRT
• CUSIP: N/A
• CIK: 1466085
• Web: www.irtliving.com
• Phone: (267) 270-4800
• Fax: N/A
• Employees: 952
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $21.14
• High Stock Price Target: $23.00
• Low Stock Price Target: $17.00
• Potential Upside/Downside: +4.0%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.71
• Research Coverage: 7 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $0.27
• Trailing P/E Ratio: 75.26
• Forward P/E Ratio: 17.52
• P/E Growth: 3.07
• Net Income: $-17,230,000.00
• Net Margins: -0.03%
• Pretax Margin: -0.08%
• Return on Equity: -0.01%
• Return on Assets: N/A

Debt

• Debt-to-Equity Ratio: 0.66
• Current Ratio: N/A
• Quick Ratio: N/A

Sales & Book Value

• Annual Sales: $646.12 million
• Price / Sales: 7.08
• Cash Flow: $0.87 per share
• Price / Cash Flow: 23.39
• Book Value: $15.88 per share
• Price / Book: 1.28

Miscellaneous

• Outstanding Shares: 225,097,000
• Free Float: 223,791,000
• Market Cap: $4.57 billion
• Optionable: Optionable
• Beta: 1.19