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

5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Independence Realty Trust in the last year. There are currently 1 sell rating and 4 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" IRT shares. View IRT analyst ratings or view top-rated stocks .

What is Independence Realty Trust's stock price target for 2024?

5 analysts have issued 1-year price objectives for Independence Realty Trust's stock. Their IRT share price targets range from $15.00 to $18.00. On average, they expect the company's stock price to reach $17.00 in the next year. This suggests a possible upside of 9.3% 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 2024?

Independence Realty Trust's stock was trading at $15.30 at the start of the year. Since then, IRT stock has increased by 1.6% and is now trading at $15.55. View the best growth stocks for 2024 here .

Are investors shorting Independence Realty Trust?

Independence Realty Trust saw a increase in short interest during the month of March. As of March 31st, there was short interest totaling 9,240,000 shares, an increase of 29.6% from the March 15th total of 7,130,000 shares. Based on an average trading volume of 2,240,000 shares, the short-interest ratio is presently 4.1 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, April 24th 2024. View our IRT earnings forecast .

How can I listen to Independence Realty Trust's earnings call?

Independence Realty Trust will be holding an earnings conference call on Thursday, April 25th at 9:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 800-770-2030 with passcode "1963990".

How were Independence Realty Trust's earnings last quarter?

Independence Realty Trust, Inc. (NYSE:IRT) announced its earnings results on Tuesday, May, 3rd. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.09. Independence Realty Trust had a negative net margin of 2.61% and a negative trailing twelve-month return on equity of 0.47%. During the same quarter last year, the business earned $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 declared a quarterly dividend on Monday, March 11th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.16 per share on Friday, April 19th. This represents a $0.64 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Wednesday, March 27th. Read our dividend analysis for IRT .

Is Independence Realty Trust a good dividend stock?

Independence Realty Trust (NYSE:IRT) pays an annual dividend of $0.64 per share and currently has a dividend yield of 4.08%. IRT has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. Read our dividend analysis for IRT .

What ETFs hold Independence Realty Trust's stock?

ETFs with the largest weight of Independence Realty Trust (NYSE:IRT) stock in their portfolio include Intelligent Real Estate ETF (PRVT) , Residential REIT ETF (HAUS) , Kelly Residential & Apartment Real Estate ETF (RESI) , Nuveen Short-Term REIT ETF (NURE) , Hoya Capital Housing ETF (HOMZ) and iShares Residential and Multisector Real Estate ETF (REZ) . SPDR Dow Jones REIT ETF (RWR) .

What guidance has Independence Realty Trust issued on next quarter's earnings?

Independence Realty Trust issued an update on its FY 2024 earnings guidance on Wednesday, February, 14th. The company provided earnings per share guidance of 1.120-1.160 for the period, compared to the consensus estimate of 1.150. 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?

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) .

Who are Independence Realty Trust's major shareholders?

Independence Realty Trust's stock is owned by many different retail and institutional investors. Top institutional shareholders include Congress Asset Management Co. MA (0.06%), Aurora Investment Managers LLC. (0.05%), Pensionfund DSM Netherlands (0.04%), Atlantic Union Bankshares Corp (0.03%), Pensionfund Sabic (0.02%) and Global Assets Advisory LLC (0.01%). 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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services. Compare Top Brokerages Here .

NYSE:IRT

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

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Free IRT Stock Alerts

$15.55

-0.01 (-0.06%)

(As of 04/18/2024 ET)

Compare

Today's Range: $15.45
▼
$15.70
50-Day Range: $14.34
▼
$16.69
52-Week Range: $11.61
▼
$18.77

Volume: 2.49 million shs
Average Volume: 2.27 million shs
Market Capitalization: $3.50 billion

P/E Ratio: N/A
Dividend Yield: 4.12%
Price Target: $17.00

Get Independence Realty Trust alerts:

Independence Realty Trust MarketRank™ Stock Analysis

Analyst Rating: Moderate Buy
2.60 Rating Score
Upside/Downside: 9.3% Upside
$17.00 Price Target
Short Interest: Bearish
4.11% of Shares Sold Short
Dividend Strength: Moderate
Based on Four Factors
Sustainability: -3.54
Upright™ Environmental Score
News Sentiment: 1.21
Based on 2 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 10.53%
From $1.14 to $1.26 Per Share

Overall MarketRank^™

New Rank-Based ScoringMarketRank^™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

3.41 out of 5 stars

Finance Sector

430th out of 823 stocks

Real Estate Investment Trusts Industry

89th out of 176 stocks

1.3

Analyst's Opinion

Consensus Rating
Independence Realty Trust has received a consensus rating of Moderate Buy. The company's average rating score is 2.60, and is based on 4 buy ratings, no hold ratings, and 1 sell rating.
Amount of Analyst Coverage
Independence Realty Trust has only been the subject of 4 research reports in the past 90 days.

2.0

Short Interest

Percentage of Shares Shorted
4.11% of the outstanding shares of Independence Realty Trust have been sold short.
Short Interest Ratio / Days to Cover
Independence Realty Trust has a short interest ratio ("days to cover") of 4.1.
Change versus previous month
Short interest in Independence Realty Trust has recently increased by 29.59%, indicating that investor sentiment is decreasing significantly.

2.5

Dividend Strength

Dividend Leadership
Independence Realty Trust is a leading dividend payer. It pays a dividend yield of 4.08%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Independence Realty Trust has only been increasing its dividend for 2 years.
Dividend Sustainability
Based on earnings estimates, Independence Realty Trust will have a dividend payout ratio of 50.79% next year. This indicates that Independence Realty Trust will be able to sustain or increase its dividend.

2.8

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Independence Realty Trust has received a 21.61% net impact score from Upright. Independence Realty seems to create the most significant positive value in categories "Taxes", "Societal infrastructure", and "Jobs". The positive contribution in the "Societal infrastructure" impact category is mostly driven by its "Real estate funds investing in apartment buildings", "Real estate funds investing in rental apartments", and "Residential real estate leasing services" products. See details.
Environmental Sustainability
The Environmental Impact score for Independence Realty Trust is -3.54.

3.4

News and Social Media Coverage

News Sentiment
Independence Realty Trust has a news sentiment score of 1.21. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.57 average news sentiment score of Finance companies.
News Coverage This Week
MarketBeat has tracked 2 news articles for Independence Realty Trust this week, compared to 3 articles on an average week.
Search Interest
1 people have searched for IRT on MarketBeat in the last 30 days.
MarketBeat Follows
4 people have added Independence Realty Trust to their MarketBeat watchlist in the last 30 days. This is an increase of 33% compared to the previous 30 days.

1.7

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Independence Realty Trust insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 0.58% of the stock of Independence Realty Trust is held by insiders.
Percentage Held by Institutions
88.25% of the stock of Independence Realty Trust is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.9

Earnings and Valuation

Earnings Growth
Earnings for Independence Realty Trust are expected to grow by 10.53% in the coming year, from $1.14 to $1.26 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Independence Realty Trust is -221.97, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Independence Realty Trust is -221.97, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Growth Ratio
Independence Realty Trust has a PEG Ratio of 2.29. PEG Ratios above 1 indicate that a company could be overvalued.
Price to Book Value per Share Ratio
Independence Realty Trust has a P/B Ratio of 0.98. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

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About Independence Realty Trust Stock (NYSE:IRT)

Independence Realty Trust, Inc. (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL. IRT's investment strategy is focused on gaining scale near major employment centers within key amenity rich submarkets that offer good school districts and high-quality retail. 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.

IRT Stock Price History

30 days | 90 days | 365 days | Advanced Chart

IRT Stock News Headlines

April 17, 2024 | americanbankingnews.com

Independence Realty Trust (IRT) to Release Earnings on Wednesday

April 11, 2024 | finance.yahoo.com

These REITs Yield 4% or More and Have Been Growing Their Dividends

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April 9, 2024 | americanbankingnews.com

Independence Realty Trust, Inc. (NYSE:IRT) Given Average Rating of "Moderate Buy" by Analysts

April 8, 2024 | businesswire.com

Independence Realty Trust Announces First Quarter 2024 Earnings Release and Conference Call Dates

April 2, 2024 | finance.yahoo.com

Independence Realty Trust Completes Sale of Three Additional Properties as Part of Portfolio Optimization and Deleveraging Strategy

March 16, 2024 | nasdaq.com

IRT Makes Notable Cross Below Critical Moving Average

March 13, 2024 | finance.yahoo.com

Don’t Worry Over Apartment REITs. Some Can Still Raise the Rent.

April 18, 2024 | Priority Gold (Ad)

Biden to Launch “FedNOW” [Move Your Money Now]

March 11, 2024 | msn.com

Independence Realty Trust declares $0.16 dividend

March 11, 2024 | businesswire.com

Independence Realty Trust Announces First Quarter 2024 Dividend

March 11, 2024 | seekingalpha.com

Fed Says Cuts Ahead

March 4, 2024 | businesswire.com

Independence Realty Trust Receives Investment Grade Credit Rating from Fitch

March 4, 2024 | businesswire.com

Independence Realty Trust Receives Investment Grade Credit Rating from Fitch

March 1, 2024 | finance.yahoo.com

Independence Realty Trust to Present at Citi’s 2024 Global Property CEO Conference

March 1, 2024 | businesswire.com

Independence Realty Trust to Present at Citi's 2024 Global Property CEO Conference

March 1, 2024 | businesswire.com

Independence Realty Trust Appoints Craig Macnab to its Board of Directors

February 17, 2024 | seekingalpha.com

Independence Realty: Q4 Earnings Show Improved Portfolio Strength

February 16, 2024 | finance.yahoo.com

Independence Realty Trust, Inc. (NYSE:IRT) Q4 2023 Earnings Call Transcript

February 15, 2024 | finance.yahoo.com

Independence Realty Trust Inc (IRT) Reports Mixed 2023 Results and Introduces 2024 Guidance

February 15, 2024 | markets.businessinsider.com

Buy Rating Affirmed for Independence Realty Trust on Strong Financials and Growth Prospects

February 14, 2024 | finance.yahoo.com

Independence Realty Trust Announces Fourth Quarter and Full Year 2023 Financial Results

February 14, 2024 | businesswire.com

Independence Realty Trust Announces Fourth Quarter and Full Year 2023 Financial Results

January 30, 2024 | seekingalpha.com

AvalonBay, IRT, NXRT, AMH nab Buy ratings at Deutsche Bank

January 25, 2024 | finance.yahoo.com

Independence Realty Trust Announces Tax Treatment of Dividends in 2023

January 18, 2024 | finance.yahoo.com

Independence Realty Trust Announces Fourth Quarter and Full Year 2023 Earnings Release and Conference Call Dates

January 4, 2024 | finance.yahoo.com

Independence Realty (IRT) Advances on Strategy With Asset Sales

See More Headlines

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Company Calendar

Last Earnings: 5/03/2022
Ex-Dividend for 1/19 Dividend: 12/28/2023
Dividend Payable: 1/19/2024
Ex-Dividend for 4/19 Dividend: 3/27/2024
Today: 4/18/2024
Dividend Payable: 4/19/2024
Next Earnings (Confirmed): 4/24/2024
Fiscal Year End: 12/31/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NYSE
Sector: Finance
Industry: Real estate investment trusts
Sub-Industry: N/A
Current Symbol: NYSE:IRT
CUSIP: N/A
CIK: 1466085
Web: www.irtliving.com
Phone: (267) 270-4800
Fax: N/A
Employees: 952
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $17.00
High Stock Price Target: $18.00
Low Stock Price Target: $15.00
Potential Upside/Downside: +9.2%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.60
Research Coverage: 5 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($0.07)
Trailing P/E Ratio: N/A
Forward P/E Ratio: 13.65
P/E Growth: 2.29
Net Income: $-17,230,000.00
Net Margins: -2.61%
Pretax Margin: -2.69%
Return on Equity: -0.47%
Return on Assets: -0.27%

Debt

Debt-to-Equity Ratio: 0.68
Current Ratio: N/A
Quick Ratio: N/A

Sales & Book Value

Annual Sales: $660.98 million
Price / Sales: 5.30
Cash Flow: $0.91 per share
Price / Cash Flow: 17.17
Book Value: $15.88 per share
Price / Book: 0.98

Miscellaneous

Outstanding Shares: 225,080,000
Free Float: 223,774,000
Market Cap: $3.50 billion
Optionable: Optionable
Beta: 1.07

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Key Executives

Mr. Scott F. Schaeffer (Age 62)
President, CEO & Chairman
Comp: $2.17M
Mr. James J. Sebra (Age 48)
CFO & Treasurer
Comp: $1.06M
Mr. Jason R. Delozier (Age 40)
Chief Accounting Officer & Controller
Comp: $720.8k
Ms. Michele R. Weisbaum (Age 63)
General Counsel
Comp: $242.2k
Mike Daley
Executive Vice President of Operations & People
Josh Kulick
Executive Vice President of Technology & Innovation
Mr. Ted McHugh
Investor Relation Officer of Edelman Smithfield
Mr. Pete Rushing
Senior Vice President of Sales & Marketing
Ms. Ella Shaw Neyland (Age 69)
Consultant
Comp: $1.69M
Janice Richards
Senior Vice President of Operations

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

IRT Stock Analysis - Frequently Asked Questions

Should I buy or sell Independence Realty Trust stock right now?: 5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Independence Realty Trust in the last year. There are currently 1 sell rating and 4 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" IRT shares.
View IRT analyst ratings or view top-rated stocks.
What is Independence Realty Trust's stock price target for 2024?: 5 analysts have issued 1-year price objectives for Independence Realty Trust's stock. Their IRT share price targets range from $15.00 to $18.00. On average, they expect the company's stock price to reach $17.00 in the next year. This suggests a possible upside of 9.3% 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 2024?: Independence Realty Trust's stock was trading at $15.30 at the start of the year. Since then, IRT stock has increased by 1.6% and is now trading at $15.55.
View the best growth stocks for 2024 here.
Are investors shorting Independence Realty Trust?: Independence Realty Trust saw a increase in short interest during the month of March. As of March 31st, there was short interest totaling 9,240,000 shares, an increase of 29.6% from the March 15th total of 7,130,000 shares. Based on an average trading volume of 2,240,000 shares, the short-interest ratio is presently 4.1 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, April 24th 2024.
View our IRT earnings forecast.
How can I listen to Independence Realty Trust's earnings call?: Independence Realty Trust will be holding an earnings conference call on Thursday, April 25th at 9:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 800-770-2030 with passcode "1963990".
How were Independence Realty Trust's earnings last quarter?: Independence Realty Trust, Inc. (NYSE:IRT) announced its earnings results on Tuesday, May, 3rd. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.09. Independence Realty Trust had a negative net margin of 2.61% and a negative trailing twelve-month return on equity of 0.47%. During the same quarter last year, the business earned $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 declared a quarterly dividend on Monday, March 11th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.16 per share on Friday, April 19th. This represents a $0.64 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Wednesday, March 27th.
Read our dividend analysis for IRT.

Is Independence Realty Trust a good dividend stock?: Independence Realty Trust (NYSE:IRT) pays an annual dividend of $0.64 per share and currently has a dividend yield of 4.08%. IRT has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer.
Read our dividend analysis for IRT.
What ETFs hold Independence Realty Trust's stock?: ETFs with the largest weight of Independence Realty Trust (NYSE:IRT) stock in their portfolio include Intelligent Real Estate ETF (PRVT), Residential REIT ETF (HAUS), Kelly Residential & Apartment Real Estate ETF (RESI), Nuveen Short-Term REIT ETF (NURE), Hoya Capital Housing ETF (HOMZ) and iShares Residential and Multisector Real Estate ETF (REZ).SPDR Dow Jones REIT ETF (RWR).
What guidance has Independence Realty Trust issued on next quarter's earnings?: Independence Realty Trust issued an update on its FY 2024 earnings guidance on Wednesday, February, 14th. The company provided earnings per share guidance of 1.120-1.160 for the period, compared to the consensus estimate of 1.150. 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?: 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).
Who are Independence Realty Trust's major shareholders?: Independence Realty Trust's stock is owned by many different retail and institutional investors. Top institutional shareholders include Congress Asset Management Co. MA (0.06%), Aurora Investment Managers LLC. (0.05%), Pensionfund DSM Netherlands (0.04%), Atlantic Union Bankshares Corp (0.03%), Pensionfund Sabic (0.02%) and Global Assets Advisory LLC (0.01%).
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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NYSE:IRT) was last updated on 4/18/2024 by MarketBeat.com Staff

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