Independence Realty Trust - IRT Stock Forecast, Price & News

8 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Independence Realty Trust in the last year. There are currently 4 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" IRT shares.
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8 Wall Street research analysts have issued 1-year target prices for Independence Realty Trust's stock. Their IRT share price forecasts range from $17.00 to $24.50. On average, they predict the company's stock price to reach $20.81 in the next twelve months. This suggests a possible upside of 36.7% 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 on January 1st, 2023. Since then, IRT shares have decreased by 9.7% and is now trading at $15.22.
View the best growth stocks for 2023 here.

Independence Realty Trust saw a increase in short interest during the month of February. As of February 28th, there was short interest totaling 6,660,000 shares, an increase of 11.2% from the February 13th total of 5,990,000 shares. Based on an average daily trading volume, of 1,970,000 shares, the days-to-cover ratio is presently 3.4 days.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 2nd 2023.
View our IRT earnings forecast.

Independence Realty Trust, Inc. (NYSE:IRT) posted its quarterly earnings results on Tuesday, May, 3rd. The real estate investment trust reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.09. Independence Realty Trust had a net margin of 18.66% and a trailing twelve-month return on equity of 3.15%. During the same period in the previous year, the company earned $0.18 earnings per share.

Independence Realty Trust announced a quarterly dividend on Monday, March 13th. Shareholders of record on Friday, March 31st will be paid a dividend of $0.14 per share on Friday, April 21st. This represents a $0.56 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Thursday, March 30th.
Read our dividend analysis for IRT.

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).

Independence Realty Trust (NYSE:IRT) pays an annual dividend of $0.56 per share and currently has a dividend yield of 3.74%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 105.66%. 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 45.90% 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, February, 15th. The company provided earnings per share guidance of $1.12-$1.16 for the period, compared to the consensus EPS estimate of $1.16. 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 shareholders include Macquarie Group Ltd. (3.91%), Long Pond Capital LP (2.34%), T. Rowe Price Investment Management Inc. (2.29%), Geode Capital Management LLC (2.08%), Alliancebernstein L.P. (2.06%) and Jennison Associates LLC (1.56%). Insiders that own company stock include Richard H Ross and Scott Schaeffer.
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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 $15.22.

Independence Realty Trust (NYSE:IRT) has a market capitalization of $3.41 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 $0.53 on an earnings per share basis.

The company employs 937 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.