Independence Realty Trust (NYSE: IRT) is a real estate investment trust that owns and operates 58 multifamily apartment properties, totaling 15,860 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
Stock Exchange NYSE
Industry Real estate investment trusts
Sub-IndustryN/A
SectorFinance
SymbolNYSE:IRT
CUSIPN/A
Phone267-270-4800
Debt
Debt-to-Equity Ratio1.45
Current Ratio0.27
Quick Ratio0.27
Price-To-Earnings
Trailing P/E Ratio13.34
Forward P/E Ratio12.84
P/E GrowthN/A
Sales & Book Value
Annual Sales$160.50 million
Price / Sales5.26
Cash Flow$0.7874 per share
Price / Cash12.23
Book Value$7.74 per share
Price / Book1.24
Profitability
EPS (Most Recent Fiscal Year)$0.73
Net Income$30.20 million
Net Margins8.19%
Return on Equity2.24%
Return on Assets0.95%
Miscellaneous
Employees421
Outstanding Shares87,660,000
Market Cap$861.66 million
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 Tuesday, September 18th. Shareholders of record on Friday, October 5th will be given a dividend of $0.18 per share on Friday, October 19th. This represents a $0.72 annualized dividend and a yield of 7.48%. The ex-dividend date of this dividend is Thursday, October 4th. View Independence Realty Trust's Dividend History.
How were Independence Realty Trust's earnings last quarter?
Independence Realty Trust Inc (NYSE:IRT) issued its earnings results on Thursday, August, 2nd. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by $0.01. The real estate investment trust earned $46.73 million during the quarter, compared to the consensus estimate of $47.47 million. Independence Realty Trust had a return on equity of 2.24% and a net margin of 8.19%. View Independence Realty Trust's Earnings History.
When is Independence Realty Trust's next earnings date?
What price target have analysts set for IRT?
7 Wall Street analysts have issued twelve-month price targets for Independence Realty Trust's shares. Their predictions range from $10.00 to $11.00. On average, they anticipate Independence Realty Trust's share price to reach $10.65 in the next twelve months. This suggests a possible upside of 10.6% from the stock's current price. View Analyst Price Targets for Independence Realty Trust.
What is the consensus analysts' recommendation for Independence Realty Trust?
7 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 5 buy ratings for the stock, resulting in a consensus recommendation of "Buy." 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. " (10/17/2018)
- 2. Compass Point analysts commented, ". We are reiterating our $34 price target and Overweight rating, but revising our 2018-19 outlook to reflect updated deal timing and the outlook for dispositions. HR’s 2Q18 results were in line with our expectations and organic growth remains strong, reflecting contractual rent bumps (escalators), larger than average cash leasing spreads (reflecting its locations), much higher than average TI (partly because of higher multi-tenant exposure) and high retention rates. HR’s deal pipeline remains active as it continues to reposition more of its portfolio on- campus with multi-tenant leases. We expect that HR’s strategy will accelerate its NOI growth, raise retention rates and sustain higher than average leasing spreads." (8/3/2018)
Who are some of Independence Realty Trust's key competitors?
Some companies that are related to Independence Realty Trust include RLJ Lodging Trust (RLJ), Eastgroup Properties (EGP), PS Business Parks (PSB), Education Realty Trust (EDR), Taubman Centers (TCO), CHIMERA INVT CO/SH NEW (CIM), Colony NorthStar (CLNS), National Health Investors (NHI), Physicians Realty Trust (DOC), The GEO Group (GEO), Corporate Office Properties Trust (OFC), Keppel REIT (KREVF), Colony Capital (CLNY), Rexford Industrial Realty (REXR) and MFA Finl Inc/SH (MFA).
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)
- Mr. Ted McHugh, SVP, Edelman Financial Communications & Capital Markets
Who are Independence Realty Trust's major shareholders?
Independence Realty Trust's stock is owned by many different of retail and institutional investors. Top institutional shareholders include State of New Jersey Common Pension Fund D (1.05%), Foundry Partners LLC (0.80%), Orinda Asset Management LLC (0.19%), Strs Ohio (0.16%), State of Alaska Department of Revenue (0.06%) and Raymond James Trust N.A. (0.02%). Company insiders that own Independence Realty Trust stock include Farrell M Ender, James J Sebra, Mack D Pridgen III and Scott Schaeffer. View Institutional Ownership Trends for Independence Realty Trust.
Which major investors are selling Independence Realty Trust stock?
Which major investors are buying Independence Realty Trust stock?
IRT stock was bought by a variety of institutional investors in the last quarter, including State of Alaska Department of Revenue and Raymond James Trust N.A.. 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 $9.63.
How big of a company is Independence Realty Trust?
Independence Realty Trust has a market capitalization of $861.66 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.
What is Independence Realty Trust's official website?
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 (NYSE 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.
