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

$13.54
-0.03 (-0.22%)
(As of 04:10 PM ET)
Compare
Today's Range
$13.51
$13.91
50-Day Range
$12.07
$15.46
52-Week Range
$11.61
$19.68
Volume
1.04 million shs
Average Volume
1.97 million shs
Market Capitalization
$3.04 billion
P/E Ratio
52.08
Dividend Yield
4.73%
Price Target
$18.89

Independence Realty Trust MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.56 Rating Score
Upside/​Downside
39.5% Upside
$18.89 Price Target
Short Interest
Healthy
3.43% of Shares Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-3.54
Upright™ Environmental Score
News Sentiment
N/A
Insider Trading
N/A
Proj. Earnings Growth
4.39%
From $1.14 to $1.19 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.41 out of 5 stars

Finance Sector

372nd out of 849 stocks

Real Estate Investment Trusts Industry

70th out of 178 stocks


IRT stock logo

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.

IRT Stock Price History

IRT Stock News Headlines

Independence Realty Trust Inc IRT
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What Wall Street expects from Independence Realty Trust's earnings
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Veris Residential (VRE) Meets Q3 FFO Estimates
KeyBanc Reaffirms Their Buy Rating on Independence Realty (IRT)
Independence Realty Trust: What's Not To Like?
Q2 2023 Independence Realty Trust Inc Earnings Call
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)
See More Headlines
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Company Calendar

Last Earnings
5/03/2022
Ex-Dividend for 10/20 Dividend
9/28/2023
Dividend Payable
10/20/2023
Today
11/29/2023
Fiscal Year End
12/31/2023
Next Earnings (Estimated)
2/21/2024

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 Target
$18.89
High Stock Price Target
$22.00
Low Stock Price Target
$15.00
Potential Upside/Downside
+39.2%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.56
Research Coverage
9 Analysts

Profitability

Net Income
$117.25 million
Pretax Margin
8.89%

Debt

Sales & Book Value

Annual Sales
$628.53 million
Cash Flow
$1.69 per share
Book Value
$16.32 per share

Miscellaneous

Free Float
223,453,000
Market Cap
$3.05 billion
Optionable
Optionable
Beta
1.06
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Key Executives

  • Mr. Scott F. SchaefferMr. Scott F. Schaeffer (Age 61)
    President, 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. Ella Shaw Neyland (Age 68)
    Consultant
    Comp: $1.69M
  • Mike Daley
    Executive Vice President of Operations & People
  • Mr. Ted McHugh
    Investor Relation Officer of Edelman Smithfield
  • Janice Richards
    Senior Vice President of Operations
  • Alex Jorgensen
    Investor Relations Officer














IRT Stock Analysis - 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 target for 2024?

9 brokerages have issued 1-year target prices for Independence Realty Trust's shares. Their IRT share price targets range from $15.00 to $22.00. On average, they expect the company's share price to reach $18.89 in the next year. This suggests a possible upside of 39.5% 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 start of the year. Since then, IRT stock has decreased by 19.7% and is now trading at $13.54.
View the best growth stocks for 2023 here
.

Are investors shorting Independence Realty Trust?

Independence Realty Trust saw a increase in short interest in 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 short-interest 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) released its 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 net margin of 8.67% and a trailing twelve-month return on equity of 1.54%. During the same period in the prior year, the business earned $0.18 EPS.

How often does Independence Realty Trust pay dividends? What is the dividend yield for Independence Realty Trust?

Independence Realty Trust declared a quarterly dividend on Tuesday, September 12th. Investors 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 dividend yield of 4.73%. 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 4.78%. 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 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 EPS guidance of $0.29-0.30 for the period, compared to the consensus 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?
Who are Independence Realty Trust's major shareholders?

Independence Realty Trust's stock is owned by many different institutional and retail investors. Top institutional shareholders 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%), Bank of New York Mellon Corp (1.07%) and Legal & General Group Plc (0.77%).
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 11/29/2023 by MarketBeat.com Staff

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