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

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.

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.

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.
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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.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, October 25th 2023.
View our IRT earnings forecast.

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.

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.

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).

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.

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 -.

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.

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).

Independence Realty Trust trades on the New York Stock Exchange (NYSE) under the ticker symbol "IRT."

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.

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.
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One share of IRT stock can currently be purchased for approximately $14.68.

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.

The company employs 923 workers across the globe.

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.