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NYSE:IRT

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

$14.69
-0.18 (-1.21%)
(As of 09/22/2023 ET)
Compare
Today's Range
$14.67
$15.03
50-Day Range
$14.69
$17.71
52-Week Range
$14.55
$19.68
Volume
1.86 million shs
Average Volume
1.89 million shs
Market Capitalization
$3.30 billion
P/E Ratio
47.39
Dividend Yield
4.36%
Price Target
$19.89

Independence Realty Trust MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.56 Rating Score
Upside/​Downside
35.4% Upside
$19.89 Price Target
Short Interest
Healthy
3.55% of Shares Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-3.54
Upright™ Environmental Score
News Sentiment
0.83mentions of Independence Realty Trust in the last 14 days
Based on 10 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
5.22%
From $1.15 to $1.21 Per Share

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 stars

Finance Sector

137th out of 809 stocks

Real Estate Investment Trusts Industry

23rd out of 172 stocks


IRT stock logo

About Independence Realty Trust (NYSE:IRT) Stock

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.

IRT Price History

IRT Stock News Headlines

The 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 REITs
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.
Independence Realty Trust: What's Not To Like?
Q2 2023 Independence Realty Trust Inc Earnings Call
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.
IRT - Independence Realty Trust, Inc.
RBC Capital Remains a Buy on Independence Realty (IRT)
Independence Realty Trust (NYSE: IRT)
Barclays Reaffirms Their Buy Rating on Independence Realty (IRT)
Q1 2023 Independence Realty Trust Inc Earnings Call
Independence Realty (IRT) Receives a Hold from JMP Securities
Independence Realty (IRT) Receives a Buy from BMO Capital
RBC Capital Sticks to Its Buy Rating for Independence Realty (IRT)
See More Headlines
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IRT Company Calendar

Last Earnings
5/03/2022
Ex-Dividend for 7/21 Dividend
6/29/2023
Dividend Payable
7/21/2023
Today
9/22/2023
Ex-Dividend for 10/20 Dividend
9/28/2023
Dividend Payable
10/20/2023
Next Earnings (Estimated)
10/25/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Real estate investment trusts
Sub-Industry
N/A
Sector
Finance
Fax
N/A
Employees
923
Year Founded
N/A

Price 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 Rating
Moderate Buy
Rating Score (0-4)
2.56
Research Coverage
9 Analysts

Profitability

Net Income
$117.25 million
Pretax Margin
10.95%

Debt

Sales & Book Value

Annual Sales
$628.53 million
Cash Flow
$1.61 per share
Book Value
$16.68 per share

Miscellaneous

Free Float
223,405,000
Market Cap
$3.34 billion
Optionable
Optionable
Beta
0.99
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Key Executives

  • Mr. Scott F. Schaeffer (Age 61)
    Pres, CEO & Chairman
    Comp: $2.43M
  • Mr. James J. Sebra (Age 47)
    CFO & Treasurer
    Comp: $1.12M
  • Mr. Jason R. Delozier (Age 39)
    Chief Accounting Officer & Controller
    Comp: $753.76k
  • Ms. Jessica K. Norman (Age 41)
    Chief Legal Officer & Sec.
    Comp: $926.79k
  • Ms. Ella Shaw Neyland (Age 68)
    Consultant
    Comp: $1.69M
  • Mike Daley
    Exec. VP of Operations & People
  • Mr. Ted McHugh
    Investor Relation Officer of Edelman Smithfield
  • Janice Richards
    Sr. VP of Operations
  • Alex Jorgensen
    Investor Relations Officer













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
.

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?
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

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