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DOW   33,762.76
QQQ   354.65
Opera Stock: The Fast-Rising Star of AI-Driven Web Experiences
15 A.I. Trading Opportunities a Day (Ad)
What Should Investors Make of These 3 Dividend Cuts?
Symbotic AI Robots Disrupt Warehouse Industry, Stock Price Soars
15 A.I. Trading Opportunities a Day (Ad)
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NYSE:IRT

Independence Realty Trust (IRT) Stock Forecast, Price & News

$17.96
+0.46 (+2.63%)
(As of 06/2/2023 ET)
Compare
Today's Range
$17.72
$18.22
50-Day Range
$15.19
$17.97
52-Week Range
$14.55
$24.14
Volume
2.40 million shs
Average Volume
1.93 million shs
Market Capitalization
$4.03 billion
P/E Ratio
78.11
Dividend Yield
3.12%
Price Target
$20.50

Independence Realty Trust MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.63 Rating Score
Upside/​Downside
14.1% Upside
$20.50 Price Target
Short Interest
Bearish
3.53% of Shares Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
-3.54
Upright™ Environmental Score
News Sentiment
0.78mentions of Independence Realty Trust in the last 14 days
Based on 7 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
7.76%
From $1.16 to $1.25 Per Share

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 stars

Finance Sector

567th out of 874 stocks

Real Estate Investment Trusts Industry

120th out of 191 stocks


IRT stock logo

About Independence Realty Trust (NYSE:IRT) Stock

Independence 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.

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IRT Stock News Headlines

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Barclays Reaffirms Their Buy Rating on Independence Realty (IRT)
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Q1 2023 Independence Realty Trust Inc Earnings Call
Independence Realty (IRT) Receives a Hold from JMP Securities
Independence Realty (IRT) Receives a Buy from BMO Capital
RBC Capital Sticks to Its Buy Rating for Independence Realty (IRT)
See More Headlines

IRT Price History

IRT Company Calendar

Last Earnings
5/03/2022
Ex-Dividend for 4/21 Dividend
3/30/2023
Dividend Payable
4/21/2023
Today
6/02/2023
Ex-Dividend for 7/21 Dividend
6/29/2023
Dividend Payable
7/21/2023
Next Earnings (Estimated)
7/26/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Real estate investment trusts
Sub-Industry
N/A
Sector
Finance
Fax
N/A
Employees
937
Year Founded
N/A

Price 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 Rating
Moderate Buy
Rating Score (0-4)
2.63
Research Coverage
8 Analysts

Profitability

Net Income
$117.25 million
Pretax Margin
8.23%

Debt

Sales & Book Value

Annual Sales
$628.53 million
Cash Flow
$1.74 per share
Book Value
$16.50 per share

Miscellaneous

Free Float
223,286,000
Market Cap
$4.03 billion
Optionable
Optionable
Beta
1.00

Key Executives

  • Scott F. Schaeffer
    Chairman, President & Chief Executive Officer
  • Mike Daley
    Executive Vice President-Operations & People
  • James J. Sebra
    Chief Financial Officer & Treasurer
  • Jessica K. Norman
    Secretary & Executive VP & General Counsel
  • Janice Richards
    Senior Vice President-Operations













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
.

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?
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

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