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 Ratio14.01
Forward P/E Ratio13.64
P/E GrowthN/A
Sales & Book Value
Annual Sales$160.50 million
Price / Sales5.54
Cash Flow$0.7955 per share
Price / Cash12.86
Book Value$7.74 per share
Price / Book1.32
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 announced a quarterly dividend on Thursday, June 14th. Stockholders of record on Friday, July 6th will be given a dividend of $0.18 per share on Friday, July 20th. This represents a $0.72 annualized dividend and a dividend yield of 7.04%. The ex-dividend date is Thursday, July 5th. View Independence Realty Trust's Dividend History.
How were Independence Realty Trust's earnings last quarter?
Independence Realty Trust (NYSE:IRT) issued its quarterly earnings data on Wednesday, April, 25th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.18 by $0.14. The real estate investment trust had revenue of $45.62 million for the quarter, compared to analysts' expectations of $44.29 million. Independence Realty Trust had a net margin of 17.65% and a return on equity of 4.82%. View Independence Realty Trust's Earnings History.
When is Independence Realty Trust's next earnings date?
What price target have analysts set for IRT?
6 brokers have issued 12-month target prices for Independence Realty Trust's shares. Their predictions range from $10.00 to $11.50. On average, they anticipate 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. " (5/31/2018)
- 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)
Who are some of Independence Realty Trust's key competitors?
Some companies that are related to Independence Realty Trust include Healthcare Realty Trust (HR), Blackstone Mortgage Trust (BXMT), CHIMERA Invt Co/SH NEW (CIM), PS Business Parks (PSB), DDR (DDR), Eastgroup Properties (EGP), The GEO Group (GEO), Colony NorthStar (CLNS), AmeriCold Realty Trust (COLD), MFA Finl Inc/SH (MFA), National Health Investors (NHI), Education Realty Trust (EDR), Potlatchdeltic (PCH), Brandywine Realty Trust (BDN) and Physicians Realty Trust (DOC).
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?
Headlines about IRT stock have trended somewhat positive on Sunday, according to Accern Sentiment. The research firm identifies negative and positive press coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Independence Realty Trust earned a coverage optimism score of 0.17 on Accern's scale. They also assigned media stories about the real estate investment trust an impact score of 46.34 out of 100, meaning that recent press 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%), Principal Financial Group Inc. (3.76%), Highland Capital Management LP (2.47%), Blue Chip Wealth Management Inc. (1.73%) and Global X Management Co. LLC (1.64%). 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., Principal Financial Group Inc., Nuveen Asset Management LLC, Global X Management Co. LLC, BlackRock Inc., Dalton Greiner Hartman Maher & Co. and Ancora Advisors LLC. 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 $10.23.
How big of a company is Independence Realty Trust?
Independence Realty Trust has a market capitalization of $898.43 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.
