NYSE:IRT Independence Realty Trust (IRT) Stock Forecast, Price & News $14.69 -0.18 (-1.21%) (As of 09/22/2023 ET) Add Compare Share Share Today's Range$14.67▼$15.0350-Day Range$14.69▼$17.7152-Week Range$14.55▼$19.68Volume1.86 million shsAverage Volume1.89 million shsMarket Capitalization$3.30 billionP/E Ratio47.39Dividend Yield4.36%Price Target$19.89 ProfileProfileAnalyst RatingsChartCompetitorsDividendFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial MediaSustainabilityProfileAnalyst RatingsChartCompetitorsDividendFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial MediaSustainability Independence Realty Trust MarketRank™ ForecastAnalyst RatingModerate Buy2.56 Rating ScoreUpside/Downside35.4% Upside$19.89 Price TargetShort InterestHealthy3.55% of Shares Sold ShortDividend StrengthModerateBased on Four FactorsSustainability-3.54Upright™ Environmental ScoreNews Sentiment0.83Based on 10 Articles This WeekInsider TradingN/AProj. Earnings Growth5.22%From $1.15 to $1.21 Per ShareSee Full Details Hide Full Details Overall MarketRank™MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.2.85 out of 5 starsFinance Sector137th out of 809 stocksReal Estate Investment Trusts Industry23rd out of 172 stocks 3.3 Analyst's Opinion Consensus RatingIndependence Realty Trust has received a consensus rating of Moderate Buy. The company's average rating score is 2.56, and is based on 5 buy ratings, 4 hold ratings, and no sell ratings.Price Target Upside/DownsideAccording to analysts' consensus price target of $19.89, Independence Realty Trust has a forecasted upside of 35.4% from its current price of $14.69.Amount of Analyst CoverageIndependence Realty Trust has only been the subject of 1 research reports in the past 90 days. Previous Next 4.0 Short Interest Percentage of Shares Shorted3.55% of the outstanding shares of Independence Realty Trust have been sold short.Short Interest Ratio / Days to CoverIndependence Realty Trust has a short interest ratio ("days to cover") of 4.7.Change versus previous monthShort interest in Independence Realty Trust has recently decreased by 15.20%, indicating that investor sentiment is improving significantly. Previous Next 2.5 Dividend Strength Dividend LeadershipIndependence Realty Trust is a leading dividend payer. It pays a dividend yield of 4.14%, putting its dividend yield in the top 25% of dividend-paying stocks.Dividend GrowthIndependence Realty Trust has only been increasing its dividend for 2 years.Dividend CoverageThe dividend payout ratio of Independence Realty Trust is 206.45%. Payout ratios above 75% are not desirable because they may not be sustainable.Dividend SustainabilityBased 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. Previous Next 2.8 Sustainability and ESG Overall ESG (Environmental, Social, and Governance) ScoreIndependence Realty Trust has received a 21.61% net impact score from Upright. Independence Realty seems to create the most significant positive value in categories "Taxes", "Societal infrastructure", and "Jobs". The positive contribution in the "Societal infrastructure" impact category is mostly driven by its "Real estate funds investing in apartment buildings", "Real estate funds investing in rental apartments", and "Residential real estate leasing services" products. See details.Environmental SustainabilityThe Environmental Impact score for Independence Realty Trust is -3.54. Previous Next 2.7 News and Social Media Coverage News SentimentIndependence Realty Trust has a news sentiment score of 0.83. 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 0.72 average news sentiment score of Finance companies.News Coverage This WeekMarketBeat has tracked 10 news articles for Independence Realty Trust this week, compared to 3 articles on an average week.Search InterestOnly 3 people have searched for IRT on MarketBeat in the last 30 days. This is a decrease of -50% compared to the previous 30 days. Previous Next 1.7 Company Ownership Insider Buying vs. Insider SellingIn the past three months, Independence Realty Trust insiders have not sold or bought any company stock.Percentage Held by InsidersOnly 0.58% of the stock of Independence Realty Trust is held by insiders.Percentage Held by Institutions85.45% 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. Previous Next 2.5 Earnings and Valuation Earnings GrowthEarnings for Independence Realty Trust are expected to grow by 5.22% in the coming year, from $1.15 to $1.21 per share.Price to Earnings Ratio vs. the MarketThe P/E ratio of Independence Realty Trust is 47.39, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 124.54.Price to Earnings Ratio vs. SectorThe P/E ratio of Independence Realty Trust is 47.39, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 88.99.Price to Earnings Growth RatioIndependence Realty Trust has a PEG Ratio of 6.72. PEG Ratios above 1 indicate that a company could be overvalued.Price to Book Value per Share RatioIndependence Realty Trust has a P/B Ratio of 0.88. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities. Previous Next See Top Rated MarketRank™ Stocks Here About Independence Realty Trust (NYSE:IRT) StockIndependence 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.Read More IRT Price History View Price History Chart DataSkip Price History Chart 30 days | 90 days | 365 days | Advanced Chart IRT Stock News HeadlinesAugust 22, 2023 | marketbeat.comThe 3 Most Promising Real Estate Stocks to Watch this Quarter (IRT)The American housing and real estate markets are looking to pivot with the underlying economy, and investors have a unique chance to get into high-flying REITsSeptember 22, 2023 | americanbankingnews.comIndependence Realty Trust, Inc. (NYSE:IRT) Given Average Recommendation of "Moderate Buy" by BrokeragesSeptember 22, 2023 | Investor Place Media (Ad)Biden To Unleash "Choke Point" Operation On America?Biden's disturbing new government program may be worse than Obama's. You are at risk for having your bank account frozen. A former bank regulator is blowing the whistle on Biden's frightening plan to take over your money. Discover the immediate steps you need to take now.September 21, 2023 | americanbankingnews.comQ3 2023 EPS Estimates for Independence Realty Trust, Inc. Decreased by KeyCorp (NYSE:IRT)September 19, 2023 | msn.comIndependence Realty Trust: Well-Positioned Due To Midwest Exposure (Rating Upgrade)September 12, 2023 | finance.yahoo.comIndependence Realty Trust Announces Third Quarter 2023 DividendAugust 23, 2023 | seekingalpha.comIndependence Realty Trust: What's Not To Like?July 28, 2023 | finance.yahoo.comQ2 2023 Independence Realty Trust Inc Earnings CallSeptember 22, 2023 | Investor Place Media (Ad)Biden To Unleash "Choke Point" Operation On America?Biden's disturbing new government program may be worse than Obama's. You are at risk for having your bank account frozen. A former bank regulator is blowing the whistle on Biden's frightening plan to take over your money. Discover the immediate steps you need to take now.July 27, 2023 | finance.yahoo.comIndependence Realty Trust Announces Second Quarter 2023 Financial ResultsJune 29, 2023 | finance.yahoo.comIRT - Independence Realty Trust, Inc.June 16, 2023 | markets.businessinsider.comRBC Capital Remains a Buy on Independence Realty (IRT)June 12, 2023 | msn.comIndependence Realty Trust: A Solid Residential REIT Despite Valuation ConcernsJune 7, 2023 | fool.comIndependence Realty Trust (NYSE: IRT)May 31, 2023 | msn.comBarclays Maintains Independence Realty Trust (IRT) Overweight RecommendationMay 31, 2023 | markets.businessinsider.comBarclays Reaffirms Their Buy Rating on Independence Realty (IRT)May 12, 2023 | msn.comIndependence Realty Trust (IRT) Declares $0.16 DividendMay 8, 2023 | markets.businessinsider.comIRT Reaffirms 2023 Outlook, Analyst Expects Growth To Continue With Sunbelt Portfolio Demand DriversMay 8, 2023 | msn.comJMP Securities Upgrades Independence Realty Trust (IRT)April 29, 2023 | msn.comRBC Capital Maintains Independence Realty Trust (IRT) Outperform RecommendationApril 28, 2023 | finance.yahoo.comQ1 2023 Independence Realty Trust Inc Earnings CallApril 27, 2023 | markets.businessinsider.comIndependence Realty (IRT) Receives a Hold from JMP SecuritiesApril 26, 2023 | finance.yahoo.comIndependence Realty Trust (IRT) Lags Q1 FFO and Revenue EstimatesApril 26, 2023 | markets.businessinsider.comIndependence Realty (IRT) Receives a Buy from BMO CapitalApril 26, 2023 | finance.yahoo.comIndependence Realty Trust Announces First Quarter 2023 Financial ResultsApril 25, 2023 | finance.yahoo.comWhat's in Store for Essex Property (ESS) in Q1 Earnings?April 22, 2023 | markets.businessinsider.comRBC Capital Sticks to Its Buy Rating for Independence Realty (IRT)See More Headlines Receive IRT Stock News and Ratings via Email Sign-up to receive the latest news and ratings for Independence Realty Trust and its competitors with MarketBeat's FREE daily newsletter. Email Address IRT Company Calendar Last Earnings5/03/2022Ex-Dividend for 7/21 Dividend6/29/2023Dividend Payable7/21/2023Today9/22/2023Ex-Dividend for 10/20 Dividend9/28/2023Dividend Payable10/20/2023Next Earnings (Estimated)10/25/2023Fiscal Year End12/31/2023Get Stock AlertsIndustry, Sector and Symbol Stock ExchangeNYSE Industry Real estate investment trusts Sub-IndustryN/A SectorFinance Current SymbolNYSE:IRT CUSIPN/A CIK1466085 Webwww.irtliving.com Phone(267) 270-4800FaxN/AEmployees923Year FoundedN/APrice Target and Rating Average Stock Price Forecast$19.89 High Stock Price Forecast$22.00 Low Stock Price Forecast$17.00 Forecasted Upside/Downside+33.8%Consensus RatingModerate Buy Rating Score (0-4)2.56 Research Coverage9 Analysts Profitability EPS (Most Recent Fiscal Year)$0.31 Trailing P/E Ratio47.97 Forward P/E Ratio12.93 P/E Growth6.72Net Income$117.25 million Net Margins10.67% Pretax Margin10.95% Return on Equity1.86% Return on Assets1.06% Debt Debt-to-Equity Ratio0.71 Current RatioN/A Quick RatioN/A Sales & Book Value Annual Sales$628.53 million Price / Sales5.32 Cash Flow$1.61 per share Price / Cash Flow9.26 Book Value$16.68 per share Price / Book0.89Miscellaneous Outstanding Shares224,710,000Free Float223,405,000Market Cap$3.34 billion OptionableOptionable Beta0.99 10 Best Stocks to Own in 2023Click the link below and we'll send you MarketBeat's list of the 10 best stocks to own in 2023 and why they should be in your portfolio. Get This Free Report Key ExecutivesMr. Scott F. Schaeffer (Age 61)Pres, CEO & Chairman Comp: $2.43MMr. James J. Sebra (Age 47)CFO & Treasurer Comp: $1.12MMr. Jason R. Delozier (Age 39)Chief Accounting Officer & Controller Comp: $753.76kMs. Jessica K. Norman (Age 41)Chief Legal Officer & Sec. Comp: $926.79kMs. Ella Shaw Neyland (Age 68)Consultant Comp: $1.69MMike DaleyExec. VP of Operations & PeopleMr. Ted McHughInvestor Relation Officer of Edelman SmithfieldJanice RichardsSr. VP of OperationsAlex JorgensenInvestor Relations OfficerMore ExecutivesKey CompetitorsGranite Real Estate Inc. StapleNYSE:GRP.UCousins PropertiesNYSE:CUZMedical Properties TrustNYSE:MPWEssential Properties Realty TrustNYSE:EPRTApple Hospitality REITNYSE:APLEView All CompetitorsInsiders & InstitutionsBarclays PLCSold 251,945 shares on 9/21/2023Ownership: 0.112%Farther Finance Advisors LLCBought 950 shares on 9/12/2023Ownership: 0.001%Virginia Retirement Systems ET ALBought 147,290 shares on 8/22/2023Ownership: 0.066%California State Teachers Retirement SystemSold 7,826 shares on 8/21/2023Ownership: 0.121%Teachers Retirement System of The State of KentuckySold 2,476 shares on 8/21/2023Ownership: 0.060%View All Insider TransactionsView All Institutional Transactions IRT Stock - Frequently Asked Questions Should I buy or sell Independence Realty Trust stock right now? 9 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Independence Realty Trust in the last year. There are currently 4 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" IRT shares. View IRT analyst ratings or view top-rated stocks. What is Independence Realty Trust's stock price forecast for 2023? 9 Wall Street research analysts have issued 12-month price targets for Independence Realty Trust's shares. Their IRT share price forecasts range from $17.00 to $22.00. On average, they predict the company's stock price to reach $19.89 in the next year. This suggests a possible upside of 35.5% from the stock's current price. View analysts price targets for IRT or view top-rated stocks among Wall Street analysts. How have IRT shares performed in 2023? Independence Realty Trust's stock was trading at $16.86 at the beginning of 2023. Since then, IRT stock has decreased by 12.9% and is now trading at $14.68. View the best growth stocks for 2023 here. Are investors shorting Independence Realty Trust? Independence Realty Trust saw a drop in short interest in the month of August. As of August 31st, there was short interest totaling 7,980,000 shares, a drop of 15.2% from the August 15th total of 9,410,000 shares. Based on an average daily trading volume, of 1,690,000 shares, the short-interest ratio is presently 4.7 days. View Independence Realty Trust's Short Interest. When is Independence Realty Trust's next earnings date? The company is scheduled to release its next quarterly earnings announcement on Wednesday, October 25th 2023. View our IRT earnings forecast. How were Independence Realty Trust's earnings last quarter? Independence Realty Trust, Inc. (NYSE:IRT) posted its quarterly earnings data on Tuesday, May, 3rd. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.09. Independence Realty Trust had a net margin of 10.67% and a trailing twelve-month return on equity of 1.86%. During the same period in the prior year, the firm posted $0.18 earnings per share. How often does Independence Realty Trust pay dividends? What is the dividend yield for Independence Realty Trust? Independence Realty Trust announced a quarterly dividend on Tuesday, September 12th. Stockholders of record on Friday, September 29th will be given a dividend of $0.16 per share on Friday, October 20th. This represents a $0.64 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Thursday, September 28th. Read our dividend analysis for IRT. What ETFs hold Independence Realty Trust's stock? ETFs with the largest weight of Independence Realty Trust (NYSE:IRT) stock in their portfolio include Private Real Estate Strategy via Liquid REITs ETF (PRVT), Residential REIT ETF (HAUS), Kelly Residential & Apartment Real Estate ETF (RESI), Nuveen Short-Term REIT ETF (NURE), Hoya Capital Housing ETF (HOMZ), iShares Residential and Multisector Real Estate ETF (REZ), SPDR Dow Jones REIT ETF (RWR) and Vanguard Russell 2000 Value ETF (VTWV). Is Independence Realty Trust a good dividend stock? Independence Realty Trust (NYSE:IRT) pays an annual dividend of $0.64 per share and currently has a dividend yield of 4.14%. IRT has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 2 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 206.45%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, IRT will have a dividend payout ratio of 52.89% next year. This indicates that the company will be able to sustain or increase its dividend. Read our dividend analysis for IRT. What guidance has Independence Realty Trust issued on next quarter's earnings? Independence Realty Trust updated its FY 2023 earnings guidance on Wednesday, July, 26th. The company provided earnings per share guidance of $1.14-$1.16 for the period, compared to the consensus estimate of $1.15. The company issued revenue guidance of -. What is Scott F. Schaeffer's approval rating as Independence Realty Trust's CEO? 6 employees have rated Independence Realty Trust Chief Executive Officer Scott F. Schaeffer on Glassdoor.com. Scott F. Schaeffer has an approval rating of 69% among the company's employees. What other stocks do shareholders of Independence Realty Trust own? Based on aggregate information from My MarketBeat watchlists, some companies that other Independence Realty Trust investors own include Annaly Capital Management (NLY), Energy Transfer (ET), AT&T (T), Government Properties Income Trust (GOV), Medical Properties Trust (MPW), Omega Healthcare Investors (OHI), Ares Capital (ARCC), New Residential Investment (NRZ), Verizon Communications (VZ) and CBL & Associates Properties (CBL). What is Independence Realty Trust's stock symbol? Independence Realty Trust trades on the New York Stock Exchange (NYSE) under the ticker symbol "IRT." Who are Independence Realty Trust's major shareholders? Independence Realty Trust's stock is owned by a variety of institutional and retail investors. Top institutional investors include BlackRock Inc. (15.54%), State Street Corp (6.10%), Geode Capital Management LLC (2.22%), Long Pond Capital LP (1.84%), Nuveen Asset Management LLC (1.43%) and Nuveen Asset Management LLC (1.43%). 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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. Compare Top Brokerages Here. What is Independence Realty Trust's stock price today? One share of IRT stock can currently be purchased for approximately $14.68. How much money does Independence Realty Trust make? Independence Realty Trust (NYSE:IRT) has a market capitalization of $3.30 billion and generates $628.53 million in revenue each year. The real estate investment trust earns $117.25 million in net income (profit) each year or $0.31 on an earnings per share basis. How many employees does Independence Realty Trust have? The company employs 923 workers across the globe. How can I contact Independence Realty Trust? Independence Realty Trust's mailing address is 1835 Market Street Suite 2601, Philadelphia PA, 19103. The official website for the company is www.irtliving.com. The real estate investment trust can be reached via phone at (267) 270-4800 or via email at irt@edelman.com. This page (NYSE:IRT) was last updated on 9/22/2023 by MarketBeat.com Staff Adding Choose a watchlist: Watchlist Adding You have already added five stocks to your watchlist. Upgrade to MarketBeat All Access to add more stocks to your watchlist. 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