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Independence Realty Trust - IRT Stock Forecast, Price & News

$22.53
+0.22 (+0.99%)
(As of 08/15/2022 12:00 AM ET)
Add
Compare
Today's Range
$22.16
$22.59
50-Day Range
$20.10
$23.56
52-Week Range
$19.63
$28.42
Volume
909,613 shs
Average Volume
3.89 million shs
Market Capitalization
$5.00 billion
P/E Ratio
34.66
Dividend Yield
2.51%
Price Target
$26.72

Independence Realty Trust MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.82 Rating Score
Upside/​Downside
18.6% Upside
$26.72 Price Target
Short Interest
Healthy
4.09% of Shares Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
N/A
News Sentiment
1.17mentions of Independence Realty Trust in the last 14 days
Based on 10 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
10.19%
From $1.08 to $1.19 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.55 out of 5 stars

Finance Sector

300th out of 926 stocks

Real Estate Investment Trusts Industry

55th out of 195 stocks

IRT stock logo

About Independence Realty Trust (NYSE:IRT) Stock

Independence Realty Trust, Inc. (NYSE: IRT) is a real estate investment trust that owns and operates multifamily apartment properties 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 on capital through distributions and capital appreciation.

Independence Realty Trust Trading Up 1.0 %

Shares of IRT opened at $22.31 on Monday. The firm's fifty day simple moving average is $21.26 and its two-hundred day simple moving average is $23.73. Independence Realty Trust has a 12 month low of $19.63 and a 12 month high of $28.42. The stock has a market capitalization of $4.95 billion, a P/E ratio of 34.32, a price-to-earnings-growth ratio of 10.36 and a beta of 0.90.

Independence Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 22nd. Investors of record on Friday, July 1st were given a dividend of $0.14 per share. This is a positive change from Independence Realty Trust's previous quarterly dividend of $0.12. The ex-dividend date was Thursday, June 30th. This represents a $0.56 annualized dividend and a dividend yield of 2.51%. Independence Realty Trust's dividend payout ratio is presently 86.15%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IRT shares. KeyCorp cut their price target on Independence Realty Trust from $29.00 to $25.00 and set an "overweight" rating on the stock in a research note on Tuesday, June 28th. Barclays reduced their target price on shares of Independence Realty Trust from $30.00 to $28.00 in a report on Tuesday, May 10th. StockNews.com upgraded shares of Independence Realty Trust to a "sell" rating in a research report on Tuesday, August 9th. Jefferies Financial Group cut their price target on shares of Independence Realty Trust from $27.00 to $24.00 and set a "buy" rating on the stock in a report on Thursday, June 30th. Finally, BTIG Research assumed coverage on Independence Realty Trust in a report on Monday, May 9th. They issued a "buy" rating and a $27.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $26.72.

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IRT Stock News Headlines

Analyst Ratings for Independence Realty Trust
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IRT Company Calendar

Last Earnings
5/03/2022
Ex-Dividend for 7/22 Dividend
6/30/2022
Dividend Payable
7/22/2022
Today
8/15/2022
Next Earnings (Estimated)
10/26/2022
Fiscal Year End
12/31/2022

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
$26.72
High Stock Price Forecast
$30.00
Low Stock Price Forecast
$24.00
Forecasted Upside/Downside
+18.6%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.82
Research Coverage
11 Analysts

Profitability

Net Income
$44.59 million
Pretax Margin
24.96%

Debt

Sales & Book Value

Annual Sales
$250.25 million
Cash Flow
$0.56 per share
Book Value
$16.50 per share

Miscellaneous

Free Float
220,781,000
Market Cap
$5.00 billion
Optionable
Optionable
Beta
0.90

Key Executives

  • Mr. Scott F. Schaeffer (Age 60)
    Chairman & CEO
    Comp: $2.41M
  • Mr. Farrell M. Ender (Age 46)
    Pres
    Comp: $1.05M
  • Mr. James J. Sebra (Age 46)
    CFO & Treasurer
    Comp: $1.05M
  • Mr. Jason R. Delozier (Age 38)
    Chief Accounting Officer & Controller
    Comp: $624.62k
  • Ms. Jessica K. Norman (Age 39)
    Chief Legal Officer & Sec.
    Comp: $805.62k
  • Ms. Ella Shaw Neyland (Age 67)
    COO & Director
  • Mr. Ted McHugh
    SVP, Edelman Financial Communications & Capital Markets
  • Alex Jorgensen
    Investor Relations Officer













IRT Stock - Frequently Asked Questions

Should I buy or sell Independence Realty Trust stock right now?

11 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 9 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 2022?

11 Wall Street research analysts have issued 1-year price objectives for Independence Realty Trust's stock. Their IRT share price forecasts range from $24.00 to $30.00. On average, they anticipate the company's stock price to reach $26.72 in the next twelve months. This suggests a possible upside of 18.6% 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 2022?

Independence Realty Trust's stock was trading at $25.83 at the beginning of the year. Since then, IRT stock has decreased by 12.8% and is now trading at $22.53.
View the best growth stocks for 2022 here
.

Are investors shorting Independence Realty Trust?

Independence Realty Trust saw a decline in short interest in the month of July. As of July 15th, there was short interest totaling 9,380,000 shares, a decline of 17.2% from the June 30th total of 11,330,000 shares. Based on an average trading volume of 3,780,000 shares, the days-to-cover ratio is currently 2.5 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, October 26th 2022.
View our IRT earnings forecast
.

How were Independence Realty Trust's earnings last quarter?

Independence Realty Trust, Inc. (NYSE:IRT) announced its quarterly earnings results on Tuesday, May, 3rd. The real estate investment trust reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.09. Independence Realty Trust had a net margin of 24.28% and a trailing twelve-month return on equity of 3.65%. During the same quarter last year, the firm posted $0.18 EPS.

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 Wednesday, May 18th. Investors of record on Friday, July 1st will be given a dividend of $0.14 per share on Friday, July 22nd. This represents a $0.56 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Thursday, June 30th. This is a boost from the stock's previous quarterly dividend of $0.12.
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 2.51%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 86.15%. 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 47.06% 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 2022 earnings guidance on Thursday, August, 4th. The company provided earnings per share guidance of $1.06-$1.08 for the period. 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 Deutsche Bank AG (2.05%), Long Pond Capital LP (1.78%), Northern Trust Corp (1.54%), Jennison Associates LLC (1.49%), Aew Capital Management L P (1.29%) and JPMorgan Chase & Co. (1.09%). Insiders that own company stock include James J Sebra, Richard H Ross, Scott Schaeffer and William C Dunkelberg.
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 $22.53.

How much money does Independence Realty Trust make?

Independence Realty Trust (NYSE:IRT) has a market capitalization of $5.00 billion and generates $250.25 million in revenue each year. The real estate investment trust earns $44.59 million in net income (profit) each year or $0.65 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 8/15/2022 by MarketBeat.com Staff

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