Positive News SentimentPositive News Independence Realty Trust Stock Price, News & Analysis (NYSE:IRT) $14.16 -0.05 (-0.35%) (As of 12/6/2023 ET) Add Compare Share Share Today's Range$14.15▼$14.4450-Day Range$12.07▼$14.2152-Week Range$11.61▼$19.68Volume1.79 million shsAverage Volume1.96 million shsMarket Capitalization$3.18 billionP/E Ratio54.46Dividend Yield4.52%Price Target$18.75 Stock AnalysisStock AnalysisAnalyst ForecastsChartCompetitorsDividendFinancialsHeadlinesInsider TradesOptions ChainOwnershipSEC FilingsShort InterestSocial MediaSustainabilityStock AnalysisAnalyst ForecastsChartCompetitorsDividendFinancialsHeadlinesInsider TradesOptions ChainOwnershipSEC FilingsShort InterestSocial MediaSustainability Independence Realty Trust MarketRank™ Stock AnalysisAnalyst RatingModerate Buy2.50 Rating ScoreUpside/Downside32.4% Upside$18.75 Price TargetShort InterestHealthy3.43% of Shares Sold ShortDividend StrengthModerateBased on Four FactorsSustainability-3.54Upright™ Environmental ScoreNews Sentiment1.60Based on 4 Articles This WeekInsider TradingN/AProj. Earnings Growth4.39%From $1.14 to $1.19 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.2.71 out of 5 starsFinance Sector130th out of 717 stocksReal Estate Investment Trusts Industry27th out of 152 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 2.50, and is based on 4 buy ratings, 4 hold ratings, and no sell ratings.Price Target Upside/DownsideAccording to analysts' consensus price target of $18.75, Independence Realty Trust has a forecasted upside of 32.4% from its current price of $14.16.Amount of Analyst CoverageIndependence Realty Trust has only been the subject of 2 research reports in the past 90 days. Previous Next 3.0 Short Interest Percentage of Shares Shorted3.43% 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 3.5, which is generally considered an acceptable ratio of short interest to trading volume.Change versus previous monthShort interest in Independence Realty Trust has recently increased by 8.45%, indicating that investor sentiment is decreasing significantly. Previous Next 2.5 Dividend Strength Dividend LeadershipIndependence Realty Trust is a leading dividend payer. It pays a dividend yield of 4.53%, 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 246.16%. 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 53.78% 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 3.7 News and Social Media Coverage News SentimentIndependence Realty Trust has a news sentiment score of 1.60. 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 0.58 average news sentiment score of Finance companies.News Coverage This WeekMarketBeat has tracked 4 news articles for Independence Realty Trust this week, compared to 3 articles on an average week.MarketBeat Follows1 people have added Independence Realty Trust to their MarketBeat watchlist in the last 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 0.56% 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 1.9 Earnings and Valuation Earnings GrowthEarnings for Independence Realty Trust are expected to grow by 4.39% in the coming year, from $1.14 to $1.19 per share.Price to Earnings Ratio vs. the MarketThe P/E ratio of Independence Realty Trust is 54.46, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 116.44.Price to Earnings Ratio vs. SectorThe P/E ratio of Independence Realty Trust is 54.46, which means that it is trading at a more expensive P/E ratio than the Finance sector average P/E ratio of about 50.14.Price to Book Value per Share RatioIndependence Realty Trust has a P/B Ratio of 0.85. 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 Stock (NYSE:IRT)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.Read More IRT Stock Price History View Price History Chart DataSkip Price History Chart 30 days | 90 days | 365 days | Advanced Chart IRT Stock News HeadlinesDecember 6, 2023 | americanbankingnews.comIndependence Realty Trust, Inc. (NYSE:IRT) Given Average Rating of "Moderate Buy" by BrokeragesDecember 3, 2023 | americanbankingnews.comIndependence Realty Trust, Inc. (NYSE:IRT) Short Interest UpdateDecember 7, 2023 | Edge On The Street (Ad)Americans Now Favor Gold Over Stocks as an Investment VehicleAmericans now consider gold a better long-term investment than stocks for the first time since 2013. But physical gold requires storage and insurance, and gold mining stocks come with significant risks. Fortunately, investors have found a little-known way to benefit from gold that avoids many of these challenges. November 29, 2023 | markets.businessinsider.comBuy Rating Maintained for Independence Realty Trust Amidst Strategic Improvements and UndervaluationNovember 19, 2023 | morningstar.comIndependence Realty Trust Inc IRTNovember 1, 2023 | markets.businessinsider.comIndependence Realty Trust Receives Buy Rating: Strategic Portfolio Optimization and Deleveraging Strategy Show PromiseNovember 1, 2023 | markets.businessinsider.comRBC Capital Maintains Outperform Rating for Independence Realty Trust: Here's What You Need To KnowNovember 1, 2023 | finance.yahoo.comIndependence Realty Trust, Inc. (NYSE:IRT) Q3 2023 Earnings Call TranscriptDecember 7, 2023 | Edge On The Street (Ad)Americans Now Favor Gold Over Stocks as an Investment VehicleAmericans now consider gold a better long-term investment than stocks for the first time since 2013. But physical gold requires storage and insurance, and gold mining stocks come with significant risks. Fortunately, investors have found a little-known way to benefit from gold that avoids many of these challenges. October 30, 2023 | finance.yahoo.comIndependence Realty Trust Announces Third Quarter 2023 Financial ResultsOctober 29, 2023 | markets.businessinsider.comWhat Wall Street expects from Independence Realty Trust's earningsOctober 28, 2023 | msn.comIndependence Realty Trust Q3 Earnings PreviewOctober 25, 2023 | finance.yahoo.comVeris Residential (VRE) Meets Q3 FFO EstimatesOctober 6, 2023 | finance.yahoo.comIndependence Realty Trust Announces Third Quarter 2023 Earnings Release and Conference Call DatesSeptember 25, 2023 | markets.businessinsider.comKeyBanc Reaffirms Their Buy Rating on Independence Realty (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 CallJuly 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 DividendSee 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 Company Calendar Last Earnings5/03/2022Ex-Dividend for 10/20 Dividend9/28/2023Dividend Payable10/20/2023Today12/07/2023Fiscal Year End12/31/2023Next Earnings (Estimated)2/21/2024Get 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 Target$18.75 High Stock Price Target$22.00 Low Stock Price Target$15.00 Potential Upside/Downside+32.4%Consensus RatingModerate Buy Rating Score (0-4)2.50 Research Coverage8 Analysts Profitability EPS (Most Recent Fiscal Year)$0.26 Trailing P/E Ratio54.46 Forward P/E Ratio12.42 P/E GrowthN/ANet Income$117.25 million Net Margins8.67% Pretax Margin8.89% Return on Equity1.54% Return on Assets0.87% Debt Debt-to-Equity Ratio0.73 Current RatioN/A Quick RatioN/A Sales & Book Value Annual Sales$628.53 million Price / Sales5.06 Cash Flow$1.67 per share Price / Cash Flow8.46 Book Value$16.68 per share Price / Book0.85Miscellaneous Outstanding Shares224,710,000Free Float223,453,000Market Cap$3.18 billion OptionableOptionable Beta1.06 10 "Recession Proof" Stocks That Will Thrive in Any MarketWhich stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.Get This Free Report Key ExecutivesMr. Scott F. Schaeffer (Age 61)President, 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. Ella Shaw Neyland (Age 68)Consultant Comp: $1.69MMike DaleyExecutive Vice President of Operations & PeopleMr. Ted McHughInvestor Relation Officer of Edelman SmithfieldJanice RichardsSenior Vice President of OperationsAlex JorgensenInvestor Relations OfficerMore ExecutivesKey CompetitorsCousins PropertiesNYSE:CUZBroadstone Net LeaseNYSE:BNLMedical Properties TrustNYSE:MPWSabra Health Care REITNASDAQ:SBRAGranite Real Estate Inc. StapleNYSE:GRP.UView All CompetitorsInstitutional OwnershipCitigroup Inc.Sold 70,822 shares on 12/6/2023Ownership: 0.031%Wellington Management Group LLPSold 862,446 shares on 12/1/2023Ownership: 1.165%B. Riley Wealth Advisors Inc.Sold 23,571 shares on 12/1/2023Ownership: 0.019%Neo Ivy Capital ManagementBought 67,528 shares on 11/30/2023Ownership: 0.030%Deutsche Bank AGSold 53,032 shares on 11/24/2023Ownership: 0.083%View All Institutional Transactions IRT Stock Analysis - Frequently Asked Questions Should I buy or sell Independence Realty Trust stock right now? 8 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 4 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 target for 2024? 8 equities research analysts have issued 1-year price targets for Independence Realty Trust's stock. Their IRT share price targets range from $15.00 to $22.00. On average, they anticipate the company's stock price to reach $18.75 in the next twelve months. This suggests a possible upside of 32.4% 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 16.0% and is now trading at $14.16. View the best growth stocks for 2023 here. Are investors shorting Independence Realty Trust? Independence Realty Trust saw a increase in short interest in the month of November. As of November 15th, there was short interest totaling 7,700,000 shares, an increase of 8.5% from the October 31st total of 7,100,000 shares. Based on an average trading volume of 2,220,000 shares, the days-to-cover ratio is presently 3.5 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, February 21st 2024. View our IRT earnings forecast. How were Independence Realty Trust's earnings last quarter? Independence Realty Trust, Inc. (NYSE:IRT) posted its quarterly earnings results on Tuesday, May, 3rd. The real estate investment trust reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.09. Independence Realty Trust had a trailing twelve-month return on equity of 1.54% and a net margin of 8.67%. During the same quarter in the prior year, the business earned $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. Shareholders of record on Friday, September 29th will be paid a dividend of $0.16 per share on Friday, October 20th. This represents a $0.64 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend is Thursday, September 28th. Read our dividend analysis for IRT. 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 4.53%. 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 246.16%. 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 53.78% next year. This indicates that the company will be able to sustain or increase its dividend. 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 JPMorgan BetaBuilders MSCI US REIT ETF (BBRE). What guidance has Independence Realty Trust issued on next quarter's earnings? Independence Realty Trust issued an update on its fourth quarter earnings guidance on Monday, October, 30th. The company provided earnings per share guidance of $0.29-0.30 for the period, compared to the consensus earnings per share estimate of $0.31. 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). Who are Independence Realty Trust's major shareholders? Independence Realty Trust's stock is owned by a number of retail and institutional investors. Top institutional investors include Ranger Global Real Estate Advisors LLC (1.57%), Jennison Associates LLC (1.42%), Charles Schwab Investment Management Inc. (1.36%), Northern Trust Corp (1.28%), Wellington Management Group LLP (1.17%) and Bank of New York Mellon Corp (1.07%). 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. This page (NYSE:IRT) was last updated on 12/7/2023 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. Adding Independence Realty Trust, Inc. Please log in to your account or sign up in order to add this asset to your watchlist. Get 30 Days of MarketBeat All Access Free Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: Best-in-Class Portfolio Monitoring View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. 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