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

Independence Realty Trust logo
$21.75 +0.27 (+1.26%)
(As of 11/22/2024 ET)

About Independence Realty Trust Stock (NYSE:IRT)

Key Stats

Today's Range
$21.56
$21.77
50-Day Range
$18.77
$21.76
52-Week Range
$13.24
$21.77
Volume
1.20 million shs
Average Volume
2.13 million shs
Market Capitalization
$4.90 billion
P/E Ratio
18.84
Dividend Yield
2.94%
Price Target
$20.43
Consensus Rating
Moderate Buy

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.

Independence Realty Trust Stock Analysis - MarketRank™

See Top Rated MarketRank™ Stocks
65th Percentile Overall Score

IRT MarketRank™: 

Independence Realty Trust scored higher than 65% of companies evaluated by MarketBeat, and ranked 493rd out of 922 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

  • Consensus Rating

    Independence Realty Trust has received a consensus rating of Moderate Buy. The company's average rating score is 2.86, and is based on 6 buy ratings, 1 hold rating, and no sell ratings.

  • Amount of Analyst Coverage

    Independence Realty Trust has only been the subject of 4 research reports in the past 90 days.

  • Read more about Independence Realty Trust's stock forecast and price target.
  • Earnings Growth

    Earnings for Independence Realty Trust are expected to grow by 5.17% in the coming year, from $1.16 to $1.22 per share.

  • Price to Earnings Ratio vs. the Market

    The P/E ratio of Independence Realty Trust is 18.84, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 118.45.

  • Price to Earnings Ratio vs. Sector

    The P/E ratio of Independence Realty Trust is 18.84, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 39.18.

  • 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 1.40. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

  • Read more about Independence Realty Trust's valuation and earnings.
  • Percentage of Shares Shorted

    12.05% 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 13.2, which indicates bearish sentiment.
  • Change versus previous month

    Short interest in Independence Realty Trust has recently increased by 14.29%, indicating that investor sentiment is decreasing significantly.
  • Dividend Yield

    Independence Realty Trust pays a meaningful dividend of 2.98%, 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 Sustainability

    Based on earnings estimates, Independence Realty Trust will have a dividend payout ratio of 52.46% next year. This indicates that Independence Realty Trust will be able to sustain or increase its dividend.

  • Read more about Independence Realty Trust's dividend.
  • Percentage of Shares Shorted

    12.05% 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 13.2, which indicates bearish sentiment.
  • Change versus previous month

    Short interest in Independence Realty Trust has recently increased by 14.29%, indicating that investor sentiment is decreasing significantly.
  • News Sentiment

    Independence Realty Trust has a news sentiment score of 1.21. 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 0.82 average news sentiment score of Finance companies.
  • News Coverage This Week

    MarketBeat has tracked 7 news articles for Independence Realty Trust this week, compared to 3 articles on an average week.
  • Search Interest

    Only 6 people have searched for IRT on MarketBeat in the last 30 days. This is a decrease of -14% compared to the previous 30 days.
  • MarketBeat Follows

    1 people have added Independence Realty Trust to their MarketBeat watchlist in the last 30 days.
  • 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 0.58% 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.

  • Read more about Independence Realty Trust's insider trading history.
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IRT Stock News Headlines

Independence Realty Trust Achieves Strong Q3 2024 Performance
Buffett Dumps $982 Million in BofA Stock—What Does He Know?
Buffett's been eerily quiet about his reasons, but his actions speak volumes. When someone with his track record starts pulling out of the market, it's time to pay attention.
JMP Securities Sticks to Their Buy Rating for Independence Realty (IRT)
See More Headlines

IRT Stock Analysis - Frequently Asked Questions

Independence Realty Trust's stock was trading at $15.30 on January 1st, 2024. Since then, IRT stock has increased by 42.2% and is now trading at $21.75.
View the best growth stocks for 2024 here
.

Independence Realty Trust, Inc. (NYSE:IRT) posted 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%.

Independence Realty Trust's top institutional shareholders 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
.

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.

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
11/23/2024
Fiscal Year End
12/31/2024
Next Earnings (Estimated)
2/12/2025

Industry, Sector and Symbol

Sector
Finance
Industry
Real estate investment trusts
Sub-Industry
Trading
Fax
N/A
Employees
952
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$20.43
High Stock Price Target
$22.00
Low Stock Price Target
$17.00
Potential Upside/Downside
-6.1%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.86
Research Coverage
7 Analysts

Profitability

Net Income
$-17,230,000.00
Pretax Margin
-0.08%

Debt

Sales & Book Value

Annual Sales
$660.98 million
Cash Flow
$0.92 per share
Book Value
$15.50 per share

Miscellaneous

Free Float
223,791,000
Market Cap
$4.90 billion
Optionable
Optionable
Beta
1.17
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This page (NYSE:IRT) was last updated on 11/23/2024 by MarketBeat.com Staff
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