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Independence Realty Trust - IRT Stock Forecast, Price & News

$21.45
+0.35 (+1.66%)
(As of 08/8/2022 12:00 AM ET)
Add
Compare
Today's Range
$21.30
$21.68
50-Day Range
$20.10
$24.04
52-Week Range
$19.56
$28.42
Volume
961,130 shs
Average Volume
3.97 million shs
Market Capitalization
$4.76 billion
P/E Ratio
33.00
Dividend Yield
2.65%
Price Target
$26.72

Independence Realty Trust MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.82 Rating Score
Upside/​Downside
24.6% Upside
$26.72 Price Target
Short Interest
Healthy
4.22% of Shares Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
N/A
News Sentiment
0.50mentions of Independence Realty Trust in the last 14 days
Based on 2 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
10.19%
From $1.08 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.

2.56 out of 5 stars

Finance Sector

145th out of 1,207 stocks

Real Estate Investment Trusts Industry

26th out of 216 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 apartment properties across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers. 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.

Independence Realty Trust Price Performance

Independence Realty Trust stock opened at $21.10 on Monday. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 32.46, a P/E/G ratio of 9.81 and a beta of 0.90. The firm has a 50-day moving average of $21.45 and a 200-day moving average of $23.75. Independence Realty Trust has a one year low of $19.56 and a one year high of $28.42.

Independence Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 22nd. Investors of record on Friday, July 1st were given a dividend of $0.14 per share. The ex-dividend date was Thursday, June 30th. This is a boost from Independence Realty Trust's previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 2.65%. Independence Realty Trust's dividend payout ratio is 86.15%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Jefferies Financial Group cut their target price on shares of Independence Realty Trust from $27.00 to $24.00 and set a "buy" rating on the stock in a report on Thursday, June 30th. StockNews.com raised Independence Realty Trust to a "sell" rating in a research note on Thursday, July 28th. Compass Point set a $24.50 target price on Independence Realty Trust in a research note on Monday, June 20th. BTIG Research began coverage on Independence Realty Trust in a report on Monday, May 9th. They set a "buy" rating and a $27.00 price objective on the stock. Finally, KeyCorp dropped their target price on shares of Independence Realty Trust from $29.00 to $25.00 and set an "overweight" rating on the stock in a report on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Independence Realty Trust presently has a consensus rating of "Moderate Buy" and an average target price of $26.72.

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IRT Stock News Headlines

Analyst Ratings for Independence Realty Trust
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IRT Company Calendar

Last Earnings
5/03/2022
Ex-Dividend for 7/22 Dividend
6/30/2022
Dividend Payable
7/22/2022
Today
8/08/2022
Next Earnings (Estimated)
10/26/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
Real estate investment trusts
Sub-Industry
N/A
Sector
Finance
Fax
N/A
Employees
937
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$26.72
High Stock Price Forecast
$30.00
Low Stock Price Forecast
$24.00
Forecasted Upside/Downside
+24.6%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.82
Research Coverage
11 Analysts

Profitability

Net Income
$44.59 million
Pretax Margin
24.96%

Debt

Sales & Book Value

Annual Sales
$250.25 million
Cash Flow
$0.57 per share
Book Value
$16.50 per share

Miscellaneous

Free Float
220,781,000
Market Cap
$4.76 billion
Optionable
Optionable
Beta
0.90

Key Executives

  • Mr. Scott F. Schaeffer (Age 60)
    Chairman & CEO
    Comp: $2.41M
  • Mr. Farrell M. Ender (Age 46)
    Pres
    Comp: $1.05M
  • Mr. James J. Sebra (Age 46)
    CFO & Treasurer
    Comp: $1.05M
  • Mr. Jason R. Delozier (Age 38)
    Chief Accounting Officer & Controller
    Comp: $624.62k
  • Ms. Jessica K. Norman (Age 39)
    Chief Legal Officer & Sec.
    Comp: $805.62k
  • Ms. Ella Shaw Neyland (Age 67)
    COO & Director
  • Mr. Ted McHugh
    SVP, Edelman Financial Communications & Capital Markets
  • Alex Jorgensen
    Investor Relations Officer













IRT Stock - Frequently Asked Questions

Should I buy or sell Independence Realty Trust stock right now?

11 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Independence Realty Trust in the last year. There are currently 2 hold ratings and 9 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" IRT shares.
View IRT analyst ratings
or view top-rated stocks.

What is Independence Realty Trust's stock price forecast for 2022?

11 Wall Street analysts have issued 12 month target prices for Independence Realty Trust's stock. Their IRT stock forecasts range from $24.00 to $30.00. On average, they predict the company's stock price to reach $26.72 in the next year. This suggests a possible upside of 25.3% from the stock's current price.
View analysts price targets for IRT
or view top-rated stocks among Wall Street analysts.

How has Independence Realty Trust's stock performed in 2022?

Independence Realty Trust's stock was trading at $25.83 at the start of the year. Since then, IRT shares have decreased by 17.4% and is now trading at $21.33.
View the best growth stocks for 2022 here
.

Are investors shorting Independence Realty Trust?

Independence Realty Trust saw a decline in short interest during the month of July. As of July 15th, there was short interest totaling 9,380,000 shares, a decline of 17.2% from the June 30th total of 11,330,000 shares. Based on an average trading volume of 3,780,000 shares, the days-to-cover ratio is currently 2.5 days.
View Independence Realty Trust's Short Interest
.

When is Independence Realty Trust's next earnings date?

Independence Realty Trust is scheduled to release its next quarterly earnings announcement on Wednesday, October 26th 2022.
View our IRT earnings forecast
.

How were Independence Realty Trust's earnings last quarter?

Independence Realty Trust, Inc. (NYSE:IRT) announced its earnings results on Tuesday, May, 3rd. The real estate investment trust reported $0.34 EPS for the quarter, topping the consensus estimate of $0.25 by $0.09. Independence Realty Trust had a net margin of 24.28% and a trailing twelve-month return on equity of 3.65%. During the same quarter in the prior year, the company 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 Wednesday, May 18th. Investors of record on Friday, July 1st will be paid a dividend of $0.14 per share on Friday, July 22nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Thursday, June 30th. This is a positive change from the stock's previous quarterly dividend of $0.12.
Read our dividend analysis for IRT
.

Is Independence Realty Trust a good dividend stock?

Independence Realty Trust (NYSE:IRT) pays an annual dividend of $0.56 per share and currently has a dividend yield of 2.65%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 86.15%. 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 47.06% 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 FY 2022 earnings guidance on Thursday, August, 4th. The company provided earnings per share (EPS) guidance of $1.06-$1.08 for the period. 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 many different retail and institutional investors. Top institutional shareholders include Jennison Associates LLC (1.49%), Aew Capital Management L P (1.29%), Russell Investments Group Ltd. (0.76%), Cambridge Investment Research Advisors Inc. (0.52%), Thornburg Investment Management Inc. (0.26%) and Connor Clark & Lunn Investment Management Ltd. (0.23%). Insiders that own company stock include James J Sebra, Richard H Ross, Scott Schaeffer and William C Dunkelberg.
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 $21.33.

How much money does Independence Realty Trust make?

Independence Realty Trust (NYSE:IRT) has a market capitalization of $4.74 billion and generates $250.25 million in revenue each year. The real estate investment trust earns $44.59 million in net income (profit) each year or $0.65 on an earnings per share basis.

How many employees does Independence Realty Trust have?

Independence Realty Trust employs 937 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 8/8/2022 by MarketBeat.com Staff

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