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About Independence Realty Trust (NYSE:IRT)
Independence Realty Trust (NYSE: IRT) is a real estate investment trust that owns and operates 55 multifamily apartment properties, totaling 15,045 units, 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 of capital through distributions and capital appreciation.
Industry, Sector and Symbol
Industry Real estate investment trusts
Sub-IndustryN/A
SectorFinance
SymbolNYSE:IRT
CUSIPN/A
Phone267-270-4800
Debt
Debt-to-Equity Ratio1.42
Current Ratio0.29
Quick Ratio0.29
Price-To-Earnings
Trailing P/E Ratio12.59
Forward P/E Ratio12.25
P/E GrowthN/A
Sales & Book Value
Annual Sales$160.50 million
Price / Sales4.98
Cash Flow$0.8033 per share
Price / Cash11.44
Book Value$7.32 per share
Price / Book1.26
Profitability
EPS (Most Recent Fiscal Year)$0.73
Net Income$30.20 million
Net Margins17.65%
Return on Equity4.82%
Return on Assets2.05%
Miscellaneous
Employees421
Outstanding Shares86,970,000
Independence Realty Trust (NYSE:IRT) Frequently Asked Questions
What is Independence Realty Trust's stock symbol?
Independence Realty Trust trades on the New York Stock Exchange (NYSE) under the ticker symbol "IRT."
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 Wednesday, March 14th. Stockholders of record on Wednesday, April 4th will be paid a dividend of $0.18 per share on Friday, April 20th. This represents a $0.72 annualized dividend and a dividend yield of 7.83%. The ex-dividend date is Tuesday, April 3rd. View Independence Realty Trust's Dividend History.
How were Independence Realty Trust's earnings last quarter?
Independence Realty Trust (NYSE:IRT) announced its earnings results on Wednesday, April, 25th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.18 by $0.14. The real estate investment trust had revenue of $45.62 million for the quarter, compared to analyst estimates of $44.29 million. Independence Realty Trust had a return on equity of 4.82% and a net margin of 17.65%. View Independence Realty Trust's Earnings History.
When is Independence Realty Trust's next earnings date?
What guidance has Independence Realty Trust issued on next quarter's earnings?
Independence Realty Trust issued an update on its FY18 earnings guidance on Tuesday, February, 20th. The company provided earnings per share (EPS) guidance of $0.74-$0.79 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.81.
What price target have analysts set for IRT?
6 equities research analysts have issued 1-year target prices for Independence Realty Trust's shares. Their forecasts range from $10.00 to $11.50. On average, they expect Independence Realty Trust's share price to reach $11.00 in the next twelve months. View Analyst Ratings for Independence Realty Trust.
What are Wall Street analysts saying about Independence Realty Trust stock?
Here are some recent quotes from research analysts about Independence Realty Trust stock:
- 1. According to Zacks Investment Research, "Independence Realty Trust, Inc. is a real estate investment trust. It is focused on acquiring and owning well-located garden-style and mid-rise apartment properties. The Company owns apartment properties primarily in Arizona, Colorado, Georgia, Indiana, Texas and Virginia. Independence Realty Trust, Inc. is based in United States. " (1/25/2018)
- 2. National Securities analysts commented, "Call to Action: Despite being nearly twice the size today as it was a year ago and having internalized its management company, IRT’s FFO has remained otherwise stagnant in an ideal macro environment for MF REITs. Though the macro environment today is essentially the best it’s ever been, with record high national rents, IRT continues to struggle to deliver higher returns and thus drive its dividend upward. Matter of fact, its 3Q17 FFO was down both Q/Q and Y/Y and on a diluted basis FFO fell $0.05 short of the quarterly dividend commitment. In the environment we’re operating in, record high MF rents, near record low MF vacancy, this is unacceptable. Though we tend to favor smaller, growth oriented MF REITs operating in secondary and tertiary markets where a favorable cost of capital usually provides them an advantage in the asset acquisition arena, IRT has to deliver on additional operational improvements to a warrant any kind of rating change. As such, we are maintaining our Neutral rating but adjusting our $9.00 price target to $11.00." (11/22/2017)
Are investors shorting Independence Realty Trust?
Independence Realty Trust saw a increase in short interest in the month of April. As of April 30th, there was short interest totalling 2,878,079 shares, an increase of 50.8% from the April 13th total of 1,908,022 shares. Based on an average daily trading volume, of 494,127 shares, the days-to-cover ratio is currently 5.8 days. Approximately 3.3% of the company's stock are sold short.
Who are some of Independence Realty Trust's key competitors?
Some companies that are related to Independence Realty Trust include PS Business Parks (PSB), Taubman Centers (TCO), EastGroup Properties (EGP), Americold Realty Trust (COLD), MFA Financial (MFA), Keppel REIT (KREVF), PotlatchDeltic (PCH), Geo Group (GEO), Colony NorthStar (CLNS), National Health Investors (NHI), Brandywine Realty Trust (BDN), Outfront Media (OUT), Corporate Office Properties Trust (OFC), Two Harbors Investment (TWO) and Pebblebrook Hotel (PEB).
Who are Independence Realty Trust's key executives?
Independence Realty Trust's management team includes the folowing people:
- Mr. Scott F. Schaeffer, Chairman & CEO (Age 56)
- Mr. Farrell M. Ender, Pres (Age 42)
- Mr. James J. Sebra, CFO & Treasurer (Age 42)
- Mr. Jason R. Delozier, Chief Accounting Officer (Age 34)
- Ms. Jessica K. Norman, Exec. VP, Corp. Counsel & Sec.
Has Independence Realty Trust been receiving favorable news coverage?
News headlines about IRT stock have been trending somewhat positive this week, according to Accern Sentiment Analysis. The research firm identifies positive and negative media coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Independence Realty Trust earned a media sentiment score of 0.03 on Accern's scale. They also gave press coverage about the real estate investment trust an impact score of 47.11 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock's share price in the near future.
Who are Independence Realty Trust's major shareholders?
Independence Realty Trust's stock is owned by a number of of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (14.34%), Principal Financial Group Inc. (3.76%), Highland Capital Management LP (2.47%), Blue Chip Wealth Management Inc. (1.73%), Global X Management Co. LLC (1.64%) and Northern Trust Corp (1.59%). Company insiders that own Independence Realty Trust stock include Farrell M Ender, James J Sebra, Mack D Pridgen III, Rait Financial Trust and Scott Schaeffer. View Institutional Ownership Trends for Independence Realty Trust.
Which institutional investors are selling Independence Realty Trust stock?
IRT stock was sold by a variety of institutional investors in the last quarter, including LSV Asset Management, Centaurus Financial Inc., Highland Capital Management LP, JPMorgan Chase & Co., California Public Employees Retirement System, Rational Advisors LLC, UBS Group AG and KBC Group NV. View Insider Buying and Selling for Independence Realty Trust.
Which institutional investors are buying Independence Realty Trust stock?
IRT stock was acquired by a variety of institutional investors in the last quarter, including Blue Chip Wealth Management Inc., Principal Financial Group Inc., Nuveen Asset Management LLC, Global X Management Co. LLC, BlackRock Inc., Dalton Greiner Hartman Maher & Co., Ancora Advisors LLC and PVG Asset Management Corp. Company insiders that have bought Independence Realty Trust stock in the last two years include Farrell M Ender, James J Sebra, Mack D Pridgen III and Scott Schaeffer. View Insider Buying and Selling for Independence Realty Trust.
How do I buy shares of Independence Realty Trust?
Shares of IRT can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Independence Realty Trust's stock price today?
One share of IRT stock can currently be purchased for approximately $9.19.
How big of a company is Independence Realty Trust?
Independence Realty Trust has a market capitalization of $799.28 million and generates $160.50 million in revenue each year. The real estate investment trust earns $30.20 million in net income (profit) each year or $0.73 on an earnings per share basis. Independence Realty Trust employs 421 workers across the globe.
How can I contact Independence Realty Trust?
Independence Realty Trust's mailing address is Two Liberty Place 50 S. 16th Street Suite 3575, Philadelphia PA, 19102. The real estate investment trust can be reached via phone at 267-270-4800 or via email at [email protected]
MarketBeat Community Rating for Independence Realty Trust (IRT)
MarketBeat's community ratings are surveys of what our community members think about Independence Realty Trust and other stocks. Vote "Outperform" if you believe IRT will outperform the S&P 500 over the long term. Vote "Underperform" if you believe IRT will underperform the S&P 500 over the long term. You may vote once every thirty days.
Independence Realty Trust (NYSE:IRT) Price Target and Consensus Rating
(How are Consensus Ratings Calculated?) MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
6 Wall Street analysts have issued ratings and price targets for Independence Realty Trust in the last 12 months. Their average twelve-month price target is $11.00, suggesting that the stock has a possible upside of 19.70%. The high price target for IRT is $11.50 and the low price target for IRT is $10.00. There are currently 1 hold rating and 5 buy ratings for the stock, resulting in a consensus rating of "Buy."
| Today | 30 Days Ago | 90 Days Ago | 180 Days Ago |
| Consensus Rating: | Buy | Buy | Buy | Buy |
| Consensus Rating Score: | 2.83 | 2.83 | 2.83 | 2.83 |
| Ratings Breakdown: | 0 Sell Rating(s)
1 Hold Rating(s)
5 Buy Rating(s)
0 Strong Buy Rating(s) | 0 Sell Rating(s)
1 Hold Rating(s)
5 Buy Rating(s)
0 Strong Buy Rating(s) | 0 Sell Rating(s)
1 Hold Rating(s)
5 Buy Rating(s)
0 Strong Buy Rating(s) | 0 Sell Rating(s)
1 Hold Rating(s)
5 Buy Rating(s)
0 Strong Buy Rating(s) |
| Consensus Price Target: | $11.00 | $11.1667 | $11.20 | $11.20 |
| Price Target Upside: | 19.70% upside | 29.54% upside | 10.24% upside | 7.02% upside |
Independence Realty Trust (NYSE:IRT) Consensus Price Target History
Independence Realty Trust (NYSE:IRT) Analyst Ratings History
Show:
(Data available from 5/21/2016 forward)
Independence Realty Trust (NYSE:IRT) Dividend Information
Independence Realty Trust pays an annual dividend of $2.16 per share, with a dividend yield of 23.50%. IRT's most recent monthly dividend payment was Friday, April 20. Independence Realty Trust pays out 295.89% of its earnings out as a dividend.
| Most Recent Dividend: | 4/20/2018 |
| Annual Dividend: | $2.16 |
| Dividend Yield: | 23.50% |
| Dividend Growth: | 0.30% (3 Year Average) |
| Payout Ratio(s): | 295.89% (Trailing 12 Months of Earnings)
288.00% (Based on This Year's Estimates)
270.00% (Based on Next Year's Estimates)
268.88% (Based on Cash Flow)
|
| Frequency: | Monthly Dividend |
Independence Realty Trust (NYSE:IRT) Dividend History by Quarter
| Announced | Period | Amount | Yield | Ex-Dividend Date | Record Date | Payable Date |
|---|
| 3/14/2018 | quarterly | $0.18 | 8.01% | 4/3/2018 | 4/4/2018 | 4/20/2018 |
| 10/13/2017 | monthly | $0.06 | 6.86% | 12/28/2017 | 12/29/2017 | 1/15/2018 |
| 10/13/2017 | monthly | $0.06 | 6.86% | 11/29/2017 | 11/30/2017 | 12/15/2017 |
| 10/13/2017 | monthly | $0.06 | 6.86% | 10/30/2017 | 10/31/2017 | 11/15/2017 |
| 7/17/2017 | monthly | $0.06 | 7.14% | 7/27/2017 | 7/31/2017 | 8/15/2017 |
| 7/17/2017 | monthly | $0.06 | 7.14% | 8/29/2017 | 8/31/2017 | 9/15/2017 |
| 7/17/2017 | monthly | $0.06 | 7.14% | 9/28/2017 | 9/29/2017 | 10/13/2017 |
| 4/13/2017 | monthly | $0.06 | 7.77% | 5/26/2017 | 5/31/2017 | 6/15/2017 |
| 4/13/2017 | monthly | $0.06 | 7.77% | 4/26/2017 | 4/28/2017 | 5/15/2017 |
| 4/13/2017 | monthly | $0.06 | 7.77% | 6/28/2017 | 6/30/2017 | 7/17/2017 |
| 1/13/2017 | monthly | $0.06 | 8.04% | 1/27/2017 | 1/31/2017 | 2/15/2017 |
| 1/13/2017 | monthly | $0.06 | 8.04% | 2/24/2017 | 2/28/2017 | 3/15/2017 |
| 1/13/2017 | monthly | $0.06 | 8.04% | 3/29/2017 | 3/31/2017 | 4/17/2017 |
| 10/12/2016 | | $0.06 | | 12/28/2016 | 12/30/2016 | 1/17/2017 |
| 10/12/2016 | | $0.06 | | 11/28/2016 | 11/30/2016 | 12/15/2016 |
| 10/13/2016 | monthly | $0.06 | 8.29% | 11/28/2016 | 11/30/2016 | 12/15/2016 |
| 10/13/2016 | monthly | $0.06 | 8.29% | 12/28/2016 | 12/30/2016 | 1/17/2017 |
| 10/12/2016 | oct 16 | $0.06 | 8.29% | 10/27/2016 | 10/31/2016 | 11/15/2016 |
| 7/14/2016 | monthly | $0.06 | 8.69% | 9/28/2016 | 9/30/2016 | 10/17/2016 |
| 7/14/2016 | monthly | $0.06 | 8.69% | 8/29/2016 | 8/31/2016 | 9/15/2016 |
| 7/14/2016 | jul 16 | $0.06 | 8.69% | 7/27/2016 | 7/29/2016 | 8/15/2016 |
| 4/15/2016 | monthly | $0.06 | 10.14% | 6/28/2016 | 6/30/2016 | 7/15/2016 |
| 4/15/2016 | monthly | $0.06 | 10.14% | 5/26/2016 | 5/31/2016 | 6/15/2016 |
| 4/14/2016 | apr 16 | $0.06 | 10.14% | 4/27/2016 | 4/29/2016 | 5/16/2016 |
| 1/15/2016 | monthly | $0.06 | 10.32% | 3/29/2016 | 3/31/2016 | 4/15/2016 |
| 1/15/2016 | monthly | $0.06 | 10.32% | 2/25/2016 | 2/29/2016 | 3/15/2016 |
| 1/14/2016 | jan 16 | $0.06 | 10.32% | 1/27/2016 | 1/29/2016 | 2/16/2016 |
| 10/20/2015 | monthly | $0.06 | 9.45% | 12/29/2015 | 12/31/2015 | 1/15/2016 |
| 10/20/2015 | monthly | $0.06 | 9.45% | 11/25/2015 | 11/30/2015 | 12/15/2015 |
| 10/19/2015 | oct 15 | $0.06 | 9.45% | 10/28/2015 | 10/30/2015 | 11/16/2015 |
| 7/2/2015 | monthly | $0.06 | 9.49% | 9/28/2015 | 9/30/2015 | 10/15/2015 |
| 7/2/2015 | monthly | $0.06 | 9.49% | 8/27/2015 | 8/31/2015 | 9/15/2015 |
| 7/1/2015 | jul 15 | $0.06 | 9.49% | 7/29/2015 | 7/31/2015 | 8/17/2015 |
| 4/14/2015 | monthly | $0.06 | 7.56% | 5/27/2015 | 5/29/2015 | 6/15/2015 |
| 4/14/2015 | monthly | $0.06 | 7.56% | 6/26/2015 | 6/30/2015 | 7/15/2015 |
| 4/13/2015 | apr 15 | $0.06 | 7.56% | 4/28/2015 | 4/30/2015 | 5/15/2015 |
| 1/21/2015 | monthly | $0.06 | 7.64% | 2/25/2015 | 2/27/2015 | 3/16/2015 |
| 1/21/2015 | monthly | $0.06 | 7.64% | 3/27/2015 | 3/31/2015 | 4/15/2015 |
| 1/21/2015 | monthly | $0.06 | 7.64% | 1/28/2015 | 1/30/2015 | 2/17/2015 |
| 10/17/2014 | monthly | $0.06 | 7.69% | 12/29/2014 | 12/31/2014 | 1/15/2015 |
| 10/17/2014 | monthly | $0.06 | 7.69% | 11/25/2014 | 11/28/2014 | 12/15/2014 |
| 10/16/2014 | oct 14 | $0.06 | 7.69% | 10/29/2014 | 10/31/2014 | 11/17/2014 |
| 7/10/2014 | | $0.06 | | 8/27/2014 | 8/29/2014 | 9/16/2014 |
| 7/11/2014 | monthly | $0.06 | 6.92% | 9/26/2014 | 9/30/2014 | 10/15/2014 |
| 7/11/2014 | monthly | $0.06 | 6.92% | 8/27/2014 | 8/29/2014 | 9/15/2014 |
| 7/11/2014 | monthly | $0.06 | 6.92% | 7/29/2014 | 7/31/2014 | 8/15/2014 |
| 4/21/2014 | monthly | $0.06 | 8.04% | 6/26/2014 | 6/30/2014 | 7/15/2014 |
| 4/21/2014 | monthly | $0.06 | 8.04% | 5/28/2014 | 5/30/2014 | 6/16/2014 |
| 4/17/2014 | apr 14 | $0.06 | 8.04% | 4/28/2014 | 4/30/2014 | 5/15/2014 |
| 1/16/2014 | monthly | $0.06 | 8.19% | 3/27/2014 | 3/31/2014 | 4/15/2014 |
| 1/16/2014 | monthly | $0.06 | 8.19% | 2/26/2014 | 2/28/2014 | 3/17/2014 |
| 1/16/2014 | monthly | $0.06 | 8.19% | 1/29/2014 | 1/31/2014 | 2/17/2014 |
| 1/15/2014 | jan 14 | $0.06 | | 1/29/2014 | 1/31/2014 | 2/17/2014 |
| 10/10/2013 | | $0.0533 | | 12/27/2013 | 12/31/2013 | 1/15/2014 |
| 10/10/2013 | | $0.0533 | | 11/26/2013 | 11/29/2013 | 12/16/2013 |
| 10/11/2013 | monthly | $0.0533 | 7.69% | 11/26/2013 | 11/29/2013 | 12/16/2013 |
| 10/11/2013 | monthly | $0.0533 | 7.69% | 12/27/2013 | 12/31/2013 | 1/15/2014 |
| 10/11/2013 | monthly | $0.0533 | 7.69% | 10/29/2013 | 10/31/2013 | 11/15/2013 |
| 10/10/2013 | oct 13 | $0.0533 | | | 10/31/2013 | 11/15/2013 |
| 8/29/2013 | monthly | $0.0533 | 7.76% | 9/26/2013 | 9/30/2013 | 10/15/2013 |
| 8/29/2013 | monthly | $0.0533 | | 8/30/2013 | 8/30/2013 | 9/13/2013 |
(Data available from 1/1/2013 forward)
Independence Realty Trust (NYSE IRT) Insider Trading and Institutional Ownership History
Insider Ownership Percentage: 0.61%
Institutional Ownership Percentage: 76.82%
Independence Realty Trust (NYSE IRT) Insider Trading History
| Transaction Date | Insider Name | Title | Buy/Sell | Number of Shares | Average Share Price | Total Transaction | Shares Held After Transaction | Details |
|---|
| 2/22/2018 | James J Sebra | CFO | Buy | 2,500 | $8.33 | $20,825.00 | |  |
| 2/22/2018 | Scott Schaeffer | CEO | Buy | 15,000 | $8.33 | $124,950.00 | | |
| 8/7/2017 | Scott Schaeffer | CEO | Buy | 35,000 | $10.12 | $354,200.00 | 155,306 | |
| 11/7/2016 | Scott Schaeffer | CEO | Buy | 10,000 | $8.42 | $84,200.00 | 106,894 | |
| 11/4/2016 | Farrell M Ender | President | Buy | 2,000 | $7.90 | $15,800.00 | 90,721 | |
| 11/4/2016 | James J Sebra | CFO | Buy | 2,500 | $7.90 | $19,750.00 | 47,949 | |
| 11/2/2016 | Mack D Pridgen III | Director | Buy | 1,351 | $8.03 | $10,848.53 | 39,588 | |
| 10/5/2016 | Rait Financial Trust | Major Shareholder | Sell | 7,269,719 | $8.55 | $62,156,097.45 | | |
| 5/17/2016 | Scott Schaeffer | CEO | Buy | 12,000 | $7.67 | $92,040.00 | 96,894 | |
| 5/17/2016 | Sharon M Tsao | Director | Buy | 1,000 | $7.75 | $7,750.00 | 8,000 | |
| 2/23/2016 | Richard H Ross | Director | Sell | 16,000 | $6.43 | $102,880.00 | 25,705 | |
| 12/8/2015 | Richard H Ross | Director | Buy | 1,000 | $7.50 | $7,500.00 | 41,705 | |
| 6/12/2015 | Robert F Mccadden | Director | Buy | 2,000 | $8.39 | $16,780.00 | | |
| 6/4/2015 | Sharon M Tsao | Director | Buy | 1,000 | $8.55 | $8,550.00 | | |
| 6/3/2015 | Farrell M Ender | President | Buy | 3,000 | $8.68 | $26,040.00 | | |
| 7/21/2014 | Rait Financial Trust | Major Shareholder | Buy | 300,000 | $9.50 | $2,850,000.00 | | |
| 1/29/2014 | Rait Financial Trust | major shareholder | Buy | 1,204,819 | $8.30 | $9,999,997.70 | | |
| 8/16/2013 | James J Sebra | CFO | Buy | 1,000 | $8.50 | $8,500.00 | | |
| 8/16/2013 | Rait Financial Trust | Major Shareholder | Buy | 170,000 | $8.50 | $1,445,000.00 | | |
| 8/16/2013 | Robert F Mccadden | Director | Buy | 5,000 | $8.50 | $42,500.00 | | |
(Data available from 1/1/2013 forward)
Independence Realty Trust (NYSE IRT) News Headlines
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Independence Realty Trust (NYSE:IRT) SEC Filings
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Independence Realty Trust (NYSE:IRT) Income Statement, Balance Sheet and Cash Flow Statement
Independence Realty Trust (NYSE IRT) Stock Chart for Monday, May, 21, 2018
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