IRT Stock Analysis: Independence Realty Trust | NYSE
REIT - Residential | NYSE, USA | Market Cap: 4.034m USD | 12M Return: -4.8% | US45378A1060 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 40.9M
Qual. Beats: 0
Rev. Trend: 11.6%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Independence Realty Trust (NYSE: IRT) is a self-administered, self-managed real estate investment trust that acquires, owns, and operates multifamily apartment communities concentrated in non-gateway U.S. markets. As of December 31, 2025, the company owned and operated 114 multifamily properties totaling 33,462 units across twelve Southeastern and Midwestern states, including Alabama, Florida, Georgia, North Carolina, Tennessee, and Texas.
In addition to its stabilized portfolio, IRT holds one property under development in Denver, Colorado (296 units upon completion) and interests in four unconsolidated joint ventures covering both operating and development assets. The company was incorporated in Maryland in 2009, is headquartered in Philadelphia, and trades as a mid-cap stock within the Multi-Family Residential REITs sub-industry.
As a REIT, IRT is generally required to distribute the bulk of its taxable income to shareholders, making dividend yield a key component of its investment profile. Its geographic focus on Sun Belt and Midwest markets reflects a strategy targeting markets with lower entry costs and stronger population and employment growth relative to higher-cost gateway cities.
- Sun Belt migration fuels occupancy and rent growth
- Interest rate cuts ease financing costs and support FFO
- Acquisition pipeline expands portfolio in non-gateway markets
| Net Income: 43.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA 0.17 > 1.0 |
| NWC/Revenue: -9.15% < 20% (prev -124.0%; Δ 114.9% < -1%) |
| CFO/TA 0.05 > 3% & CFO 275.8m > Net Income 43.5m |
| Net Debt (2.42b) to EBITDA (381.7m): 6.34 < 3 |
| Current Ratio: 0.27 > 1.5 & < 3 |
| Outstanding Shares: last quarter (236.0m) vs 12m ago 0.81% < -2% |
| Gross Margin: 1.00% > 18% (prev 58.87%; Δ -57.87% > 0.5%) |
| Asset Turnover: 11.06% > 50% (prev 10.82%; Δ 0.25% > 0%) |
| Interest Coverage Ratio: 1.53 > 6 (EBIT TTM 127.5m / Interest Expense TTM 83.2m) |
| A: -0.01 (Total Current Assets 22.5m - Total Current Liabilities 83.6m) / Total Assets 6.09b |
| B: -0.10 (Retained Earnings -634.7m / Total Assets 6.09b) |
| C: 0.02 (EBIT TTM 127.5m / Avg Total Assets 6.03b) |
| D: 1.29 (Book Value of Equity 3.36b / Total Liabilities 2.60b) |
| Altman-Z'' = 1.09 = BB |
As of August 30, 2026, the stock is trading at USD 16.31 with a total of 1,848,944 shares traded. Over the past week, the price has changed by -1.69%, over one month by -2.28%, over three months by +0.29% and over the past year by -4.79%.
Current recommended Stop Loss: 15.70 (which is 3.7% or 1.6 ATR below the current price).
Independence Realty Trust has received a consensus analysts rating of 4.21. Therefore, it is recommended to buy IRT.
- StrongBuy: 7
- Buy: 3
- Hold: 4
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 19.5 | 19.6% |
P/E Trailing = 92.7222
P/E Forward = 66.2252
P/S = 6.0239
P/B = 1.1643
P/EG = 4.57
Revenue TTM = 666.8m USD
EBIT TTM = 127.5m USD
EBITDA TTM = 381.7m USD
Long Term Debt = 1.59b USD (from longTermDebt, last quarter)
Short Term Debt = 83.6m USD (from shortTermDebt, last quarter)
Debt = 2.44b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.42b USD (calculated: Debt 2.44b - CCE 22.5m)
Enterprise Value = 6.45b USD (4.03b + Debt 2.44b - CCE 22.5m)
Interest Coverage Ratio = 1.53 (Ebit TTM 127.5m / Interest Expense TTM 83.2m)
EV/FCF = 45.40x (Enterprise Value 6.45b / FCF TTM 142.2m)
FCF Yield = 2.20% (FCF TTM 142.2m / Enterprise Value 6.45b)
FCF Margin = 21.32% (FCF TTM 142.2m / Revenue TTM 666.8m)
Net Margin = 6.52% (Net Income TTM 43.5m / Revenue TTM 666.8m)
Gross Margin = 1.00% ((Revenue TTM 666.8m - Cost of Revenue TTM 660.1m) / Revenue TTM)
Gross Margin QoQ = -20.20% (prev -20.75%)
Tobins Q-Ratio = 1.06 (Enterprise Value 6.45b / Total Assets 6.09b)
Interest Expense / Debt = 3.40% (Interest Expense 83.2m / Debt 2.44b)
Taxrate = 0.0% (0.0 / 57.7m)
NOPAT = 127.5m (EBIT 127.5m * (1 - 0.00%))
Current Ratio = 0.27 (Total Current Assets 22.5m / Total Current Liabilities 83.6m)
Debt / Equity = 0.73 (Debt 2.44b / totalStockholderEquity, last quarter 3.36b)
Debt / EBITDA = 6.34 (Net Debt 2.42b / EBITDA 381.7m)
Debt / FCF = 17.03 (Net Debt 2.42b / FCF TTM 142.2m)
Total Stockholder Equity = 3.42b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.72% (Net Income 43.5m / Total Assets 6.09b)
RoE = 1.27% (Net Income TTM 43.5m / Total Stockholder Equity 3.42b)
RoCE = 2.54% (EBIT 127.5m / Capital Employed (Equity 3.42b + L.T.Debt 1.59b))
RoIC = 2.10% (NOPAT 127.5m / Invested Capital 6.07b)
WACC = 5.27% (E(4.03b)/V(6.48b) * Re(6.40%) + D(2.44b)/V(6.48b) * Rd(3.40%) * (1-Tc(0.0)))
Discount Rate = 6.40% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 87.68 | Cagr: 2.11%
[DCF] Terminal Value 76.67% ; FCFF base≈137.0m ; Y1≈149.0m ; Y5≈185.3m
[DCF] Fair Price = 1.76 (EV 2.84b - Net Debt 2.42b = Equity 414.9m / Shares 235.7m; r=8.35% [WACC [floored]]; 5y FCF grow 10.10% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.35 | # QB: 0
Revenue Correlation: 11.62 | Revenue CAGR: 0.17% | SUE: 0.17 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.05 | Chg30d=+0.00% | Revisions=+0% | Analysts=1
EPS current Year (2026-12-31): EPS=0.24 | Chg30d=+87.60% | Revisions=+0% | GrowthEPS=+2.1% | GrowthRev=+2.7%
EPS next Year (2027-12-31): EPS=0.16 | Chg30d=-5.88% | Revisions=+0% | GrowthEPS=-33.3% | GrowthRev=+3.5%
[Analyst] Revisions Ratio: +0% (up=3, down=3)