NYSE:IRT Independence Realty Trust (IRT) Stock Forecast, Price & News $17.96 +0.46 (+2.63%) (As of 06/2/2023 ET) Add Compare Share Share Today's Range$17.72▼$18.2250-Day Range$15.19▼$17.9752-Week Range$14.55▼$24.14Volume2.40 million shsAverage Volume1.93 million shsMarket Capitalization$4.03 billionP/E Ratio78.11Dividend Yield3.12%Price Target$20.50 ProfileProfileAnalyst RatingsChartCompetitorsDividendFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial MediaSustainabilityProfileAnalyst RatingsChartCompetitorsDividendFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial MediaSustainability Independence Realty Trust MarketRank™ ForecastAnalyst RatingModerate Buy2.63 Rating ScoreUpside/Downside14.1% Upside$20.50 Price TargetShort InterestBearish3.53% of Shares Sold ShortDividend StrengthWeakBased on Four FactorsSustainability-3.54Upright™ Environmental ScoreNews Sentiment0.78Based on 7 Articles This WeekInsider TradingN/AProj. Earnings Growth7.76%From $1.16 to $1.25 Per ShareSee Full Details Hide Full Details Overall MarketRank™MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.2.27 out of 5 starsFinance Sector567th out of 874 stocksReal Estate Investment Trusts Industry120th out of 191 stocks 2.3 Analyst's Opinion Consensus RatingIndependence Realty Trust has received a consensus rating of Buy. The company's average rating score is 2.63, and is based on 5 buy ratings, 3 hold ratings, and no sell ratings.Price Target Upside/DownsideAccording to analysts' consensus price target of $20.50, Independence Realty Trust has a forecasted upside of 14.1% from its current price of $17.97.Amount of Analyst CoverageIndependence Realty Trust has only been the subject of 1 research reports in the past 90 days. Previous Next 2.0 Short Interest Percentage of Shares Shorted3.53% of the outstanding shares of Independence Realty Trust have been sold short.Short Interest Ratio / Days to CoverIndependence Realty Trust has a short interest ratio ("days to cover") of 4.2.Change versus previous monthShort interest in Independence Realty Trust has recently increased by 28.94%, indicating that investor sentiment is decreasing significantly. Previous Next 1.7 Dividend Strength Dividend YieldIndependence Realty Trust pays a meaningful dividend of 3.24%, higher than the bottom 25% of all stocks that pay dividends.Dividend GrowthIndependence Realty Trust has only been increasing its dividend for 2 years.Dividend CoverageThe dividend payout ratio of Independence Realty Trust is 243.49%. Payout ratios above 75% are not desirable because they may not be sustainable.Dividend SustainabilityBased on earnings estimates, Independence Realty Trust will have a dividend payout ratio of 44.80% next year. This indicates that Independence Realty Trust will be able to sustain or increase its dividend. Previous Next 2.8 Sustainability and ESG Overall ESG (Environmental, Social, and Governance) ScoreIndependence Realty Trust has received a 21.61% net impact score from Upright. Independence Realty seems to create the most significant positive value in categories "Taxes", "Societal infrastructure", and "Jobs". The positive contribution in the "Societal infrastructure" impact category is mostly driven by its "Real estate funds investing in apartment buildings", "Real estate funds investing in rental apartments", and "Residential real estate leasing services" products. See details.Environmental SustainabilityThe Environmental Impact score for Independence Realty Trust is -3.54. Previous Next 2.7 News and Social Media Coverage News SentimentIndependence Realty Trust has a news sentiment score of 0.78. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.68 average news sentiment score of Finance companies.News Coverage This WeekMarketBeat has tracked 7 news articles for Independence Realty Trust this week, compared to 3 articles on an average week.Search InterestOnly 1 people have searched for IRT on MarketBeat in the last 30 days. This is a decrease of -67% compared to the previous 30 days. Previous Next 1.7 Company Ownership Insider Buying vs. Insider SellingIn the past three months, Independence Realty Trust insiders have not sold or bought any company stock.Percentage Held by InsidersOnly 0.58% of the stock of Independence Realty Trust is held by insiders.Percentage Held by Institutions81.01% of the stock of Independence Realty Trust is held by institutions. High institutional ownership can be a signal of strong market trust in this company. Previous Next 2.5 Earnings and Valuation Earnings GrowthEarnings for Independence Realty Trust are expected to grow by 7.76% in the coming year, from $1.16 to $1.25 per share.Price to Earnings Ratio vs. the MarketThe P/E ratio of Independence Realty Trust is 78.11, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 136.37.Price to Earnings Ratio vs. SectorThe P/E ratio of Independence Realty Trust is 78.11, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 164.03.Price to Earnings Growth RatioIndependence Realty Trust has a PEG Ratio of 7.44. PEG Ratios above 1 indicate that a company could be overvalued.Price to Book Value per Share RatioIndependence Realty Trust has a P/B Ratio of 1.09. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities. Previous Next See Top Rated MarketRank™ Stocks Here About Independence Realty Trust (NYSE:IRT) StockIndependence Realty Trust, Inc. is a real estate investment trust, which acquires, owns, operates, improves and manages multifamily apartment communities across non-gateway U.S. markets. It aims to provide stockholders risk-adjusted returns through diligent portfolio management, operational performance and consistent return of capital through distributions and capital appreciation. The company was founded on March 26, 2009 and is headquartered in Philadelphia, PA.Read More Receive IRT Stock News and Ratings via Email Sign-up to receive the latest news and ratings for Independence Realty Trust and its competitors with MarketBeat's FREE daily newsletter. Email Address IRT Stock News HeadlinesJune 2, 2023 | americanbankingnews.comIndependence Realty Trust (NYSE:IRT) Price Target Cut to $22.00May 31, 2023 | msn.comBarclays Maintains Independence Realty Trust (IRT) Overweight RecommendationJune 3, 2023 | Behind the Markets (Ad)"Unknown laser company making HUGE profit from Russia-Ukraine War"On February 24th, Russia invaded Ukraine. This caused major stock losses and soaring gas prices. But it also created a HUGE opportunity for savvy investors. There's an unknown laser company that's been profiting greatly from this war... ...and from another major conflict happening 3,000 miles away. Learn more here >>>May 31, 2023 | markets.businessinsider.comBarclays Reaffirms Their Buy Rating on Independence Realty (IRT)May 25, 2023 | americanbankingnews.comAnalysts Set Independence Realty Trust, Inc. (NYSE:IRT) Target Price at $20.72May 19, 2023 | americanbankingnews.comIndependence Realty Trust (NYSE:IRT) Now Covered by StockNews.comMay 12, 2023 | msn.comIndependence Realty Trust (IRT) Declares $0.16 DividendMay 9, 2023 | americanbankingnews.comIndependence Realty Trust (NYSE:IRT) Raised to Outperform at JMP SecuritiesJune 3, 2023 | Vantage Point (Ad)We Called (ARWR) In Advance, Which Stocks Are Next?Nearly 56% gains in 30 days! This bullish trend reversal was not only forecasted by A.I., but we called it 1 – 3 days in advance. If you have any money invested in the markets…even just your retirement, you’ll want to see this. Plus, it’s FREE - the training is only an hour & LIVE. May 8, 2023 | markets.businessinsider.comIRT Reaffirms 2023 Outlook, Analyst Expects Growth To Continue With Sunbelt Portfolio Demand DriversMay 8, 2023 | msn.comJMP Securities Upgrades Independence Realty Trust (IRT)May 6, 2023 | americanbankingnews.comIndependence Realty Trust (NYSE:IRT) Lifted to Sell at StockNews.comApril 30, 2023 | americanbankingnews.comIndependence Realty Trust, Inc. (NYSE:IRT) Given Consensus Recommendation of "Hold" by BrokeragesApril 29, 2023 | msn.comRBC Capital Maintains Independence Realty Trust (IRT) Outperform RecommendationApril 28, 2023 | finance.yahoo.comQ1 2023 Independence Realty Trust Inc Earnings CallApril 28, 2023 | americanbankingnews.comIndependence Realty Trust (NYSE:IRT) Updates FY 2023 Earnings GuidanceApril 27, 2023 | markets.businessinsider.comIndependence Realty (IRT) Receives a Hold from JMP SecuritiesApril 26, 2023 | finance.yahoo.comIndependence Realty Trust (IRT) Lags Q1 FFO and Revenue EstimatesApril 26, 2023 | markets.businessinsider.comIndependence Realty (IRT) Receives a Buy from BMO CapitalApril 26, 2023 | finance.yahoo.comIndependence Realty Trust Announces First Quarter 2023 Financial ResultsApril 25, 2023 | finance.yahoo.comWhat's in Store for Essex Property (ESS) in Q1 Earnings?April 24, 2023 | americanbankingnews.comIndependence Realty Trust (IRT) Set to Announce Earnings on WednesdayApril 22, 2023 | markets.businessinsider.comRBC Capital Sticks to Its Buy Rating for Independence Realty (IRT)April 21, 2023 | finance.yahoo.comCan UDR Capitalize on the Rebound in the U.S. Apartment Market?April 19, 2023 | americanbankingnews.comJefferies Financial Group Comments on Independence Realty Trust, Inc.'s FY2026 Earnings (NYSE:IRT)April 15, 2023 | americanbankingnews.comIndependence Realty Trust (NYSE:IRT) Upgraded by StockNews.com to "Sell"April 5, 2023 | finance.yahoo.comIndependence Realty Trust Announces First Quarter 2023 Earnings Release and Conference Call DatesSee More Headlines IRT Price History View Price History Chart DataSkip Price History Chart 30 days | 90 days | 365 days | Advanced Chart IRT Company Calendar Last Earnings5/03/2022Ex-Dividend for 4/21 Dividend3/30/2023Dividend Payable4/21/2023Today6/02/2023Ex-Dividend for 7/21 Dividend6/29/2023Dividend Payable7/21/2023Next Earnings (Estimated)7/26/2023Fiscal Year End12/31/2023Get Stock AlertsIndustry, Sector and Symbol Stock ExchangeNYSE Industry Real estate investment trusts Sub-IndustryN/A SectorFinance Current SymbolNYSE:IRT CUSIPN/A CIK1466085 Webwww.irtliving.com Phone(267) 270-4800FaxN/AEmployees937Year FoundedN/APrice Target and Rating Average Stock Price Forecast$20.50 High Stock Price Forecast$24.50 Low Stock Price Forecast$17.00 Forecasted Upside/Downside+14.1%Consensus RatingModerate Buy Rating Score (0-4)2.63 Research Coverage8 Analysts Profitability EPS (Most Recent Fiscal Year)$0.23 Trailing P/E Ratio78.11 Forward P/E Ratio15.49 P/E Growth7.44Net Income$117.25 million Net Margins8.02% Pretax Margin8.23% Return on Equity1.38% Return on Assets0.79% Debt Debt-to-Equity Ratio0.71 Current RatioN/A Quick RatioN/A Sales & Book Value Annual Sales$628.53 million Price / Sales6.42 Cash Flow$1.74 per share Price / Cash Flow10.35 Book Value$16.50 per share Price / Book1.09Miscellaneous Outstanding Shares224,590,000Free Float223,286,000Market Cap$4.03 billion OptionableOptionable Beta1.00 Key ExecutivesScott F. SchaefferChairman, President & Chief Executive OfficerMike DaleyExecutive Vice President-Operations & PeopleJames J. SebraChief Financial Officer & TreasurerJessica K. NormanSecretary & Executive VP & General CounselJanice RichardsSenior Vice President-OperationsKey CompetitorsHoward HughesNYSE:HHCGranite Real Estate Inc. StapleNYSE:GRP.URithm CapitalNYSE:RITMEssential Properties Realty TrustNYSE:EPRTKite Realty Group TrustNYSE:KRGView All CompetitorsInsiders & InstitutionsProShare Advisors LLCSold 2,936 shares on 5/26/2023Ownership: 0.018%Toroso Investments LLCBought 1,773 shares on 5/23/2023Ownership: 0.008%Ameriprise Financial Inc.Bought 106,980 shares on 5/22/2023Ownership: 0.255%American TrustBought 10,320 shares on 5/22/2023Ownership: 0.005%Anson Funds Management LPBought 120,700 shares on 5/19/2023Ownership: 0.054%View All Insider TransactionsView All Institutional Transactions IRT Stock - Frequently Asked Questions Should I buy or sell Independence Realty Trust stock right now? 8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Independence Realty Trust in the last year. There are currently 3 hold ratings and 5 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 2023? 8 brokerages have issued 1 year price objectives for Independence Realty Trust's shares. Their IRT share price forecasts range from $17.00 to $24.50. On average, they expect the company's share price to reach $20.50 in the next twelve months. This suggests a possible upside of 13.8% 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 shares have increased by 6.8% and is now trading at $18.01. View the best growth stocks for 2023 here. 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 totaling 6,150,000 shares, an increase of 6.0% from the April 15th total of 5,800,000 shares. Based on an average daily volume of 1,970,000 shares, the days-to-cover ratio is presently 3.1 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, July 26th 2023. View our IRT earnings forecast. How were Independence Realty Trust's earnings last quarter? Independence Realty Trust, Inc. (NYSE:IRT) released its quarterly earnings data 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 8.02% and a trailing twelve-month return on equity of 1.38%. During the same quarter last 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 Wednesday, May 10th. Shareholders of record on Friday, June 30th will be given a dividend of $0.16 per share on Friday, July 21st. This represents a $0.64 annualized dividend and a yield of 3.55%. The ex-dividend date is Thursday, June 29th. This is an increase from the stock's previous quarterly dividend of $0.14. Read our dividend analysis for IRT. What ETFs hold Independence Realty Trust's stock? ETFs with the largest weight of Independence Realty Trust (NYSE:IRT) stock in their portfolio include Residential REIT Income ETF (HAUS), Kelly Residential & Apartment Real Estate ETF (RESI), Nuveen Short-Term REIT ETF (NURE), JPMorgan Realty Income ETF (JPRE), Hoya Capital Housing ETF (HOMZ), iShares Residential and Multisector Real Estate ETF (REZ), First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) and SPDR Dow Jones REIT ETF (RWR). 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 3.24%. 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 243.49%. 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 44.80% 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 2023 earnings guidance on Thursday, April, 27th. The company provided earnings per share guidance of $1.12-$1.16 for the period, compared to the consensus earnings per share estimate of $1.14. 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? 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). 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 shareholders include BlackRock Inc. (14.17%), State Street Corp (6.12%), Macquarie Group Ltd. (4.35%), Wellington Management Group LLP (2.21%), Geode Capital Management LLC (2.14%) and Ranger Global Real Estate Advisors LLC (1.72%). 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 $18.01. How much money does Independence Realty Trust make? Independence Realty Trust (NYSE:IRT) has a market capitalization of $4.04 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 $0.23 on an earnings per share basis. How many employees does Independence Realty Trust have? The company 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 6/3/2023 by MarketBeat.com Staff Adding Choose a watchlist: Watchlist Adding You have already added five stocks to your watchlist. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Adding Independence Realty Trust, Inc. 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