IRT Stock Analysis: Independence Realty Trust | NYSE
REIT - Residential | NYSE, USA | Market Cap: 4.074m USD | 12M Return: -1.2% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 45.4M
Qual. Beats: -1
Rev. Trend: -3.8%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 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: 48.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA 0.74 > 1.0 |
| NWC/Revenue: -136.9% < 20% (prev -137.0%; Δ 0.02% < -1%) |
| CFO/TA 0.05 > 3% & CFO 277.1m > Net Income 48.1m |
| Net Debt (2.39b) to EBITDA (378.6m): 6.31 < 3 |
| Current Ratio: 0.03 > 1.5 & < 3 |
| Outstanding Shares: last quarter (242.4m) vs 12m ago 4.55% < -2% |
| Gross Margin: 20.25% > 18% (prev 58.64%; Δ -38.39% > 0.5%) |
| Asset Turnover: 10.95% > 50% (prev 10.71%; Δ 0.24% > 0%) |
| Interest Coverage Ratio: 1.61 > 6 (EBIT TTM 129.4m / Interest Expense TTM 80.4m) |
| A: -0.15 (Total Current Assets 23.3m - Total Current Liabilities 929.5m) / Total Assets 6.10b |
| B: -0.10 (Retained Earnings -595.7m / Total Assets 6.10b) |
| C: 0.02 (EBIT TTM 129.4m / Avg Total Assets 6.04b) |
| D: 1.32 (Book Value of Equity 3.39b / Total Liabilities 2.58b) |
| Altman-Z'' = 0.23 = B |
As of July 15, 2026, the stock is trading at USD 16.55 with a total of 2,209,628 shares traded. Over the past week, the price has changed by -4.61%, over one month by +0.84%, over three months by +6.56% and over the past year by -1.18%.
Current recommended Stop Loss: 16.00 (which is 3.3% 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 | 19.1 | 15.6% |
P/E Trailing = 88.7369
P/E Forward = 78.7402
P/S = 6.0595
P/B = 1.2039
P/EG = 4.57
Revenue TTM = 661.8m USD
EBIT TTM = 129.4m USD
EBITDA TTM = 378.6m USD
Long Term Debt = 1.64b USD (from longTermDebt, last quarter)
Short Term Debt = 130.0m USD (from shortTermDebt, last quarter)
Debt = 2.43b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.39b USD (calculated: Debt 2.43b - CCE 43.3m)
Enterprise Value = 6.46b USD (4.07b + Debt 2.43b - CCE 43.3m)
Interest Coverage Ratio = 1.61 (Ebit TTM 129.4m / Interest Expense TTM 80.4m)
EV/FCF = 42.65x (Enterprise Value 6.46b / FCF TTM 151.6m)
FCF Yield = 2.34% (FCF TTM 151.6m / Enterprise Value 6.46b)
FCF Margin = 22.90% (FCF TTM 151.6m / Revenue TTM 661.8m)
Net Margin = 7.27% (Net Income TTM 48.1m / Revenue TTM 661.8m)
Gross Margin = 20.25% ((Revenue TTM 661.8m - Cost of Revenue TTM 527.8m) / Revenue TTM)
Gross Margin QoQ = -20.75% (prev -13.63%)
Tobins Q-Ratio = 1.06 (Enterprise Value 6.46b / Total Assets 6.10b)
Interest Expense / Debt = 3.30% (Interest Expense 80.4m / Debt 2.43b)
Taxrate = 0.0% (0.0 / 57.7m)
NOPAT = 129.4m (EBIT 129.4m * (1 - 0.00%))
Current Ratio = 0.03 (Total Current Assets 23.3m / Total Current Liabilities 929.5m)
Debt / Equity = 0.72 (Debt 2.43b / totalStockholderEquity, last quarter 3.39b)
Debt / EBITDA = 6.31 (Net Debt 2.39b / EBITDA 378.6m)
Debt / FCF = 15.77 (Net Debt 2.39b / FCF TTM 151.6m)
Total Stockholder Equity = 3.44b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.80% (Net Income 48.1m / Total Assets 6.10b)
RoE = 1.40% (Net Income TTM 48.1m / Total Stockholder Equity 3.44b)
RoCE = 2.55% (EBIT 129.4m / Capital Employed (Equity 3.44b + L.T.Debt 1.64b))
RoIC = 2.13% (NOPAT 129.4m / Invested Capital 6.07b)
WACC = 5.10% (E(4.07b)/V(6.51b) * Re(6.17%) + D(2.43b)/V(6.51b) * Rd(3.30%) * (1-Tc(0.0)))
Discount Rate = 6.17% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 93.75 | Cagr: 3.46%
[DCF] Terminal Value 77.97% ; FCFF base≈132.6m ; Y1≈152.0m ; Y5≈223.7m
[DCF] Fair Price = 4.14 (EV 3.37b - Net Debt 2.39b = Equity 975.6m / Shares 235.7m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.93 | # QB: -1
Revenue Correlation: -3.77 | Revenue CAGR: -0.05% | SUE: 0.36 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.11 | Chg30d=N/A | Revisions=+0% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.05 | Chg30d=N/A | Revisions=+0% | Analysts=1
EPS current Year (2026-12-31): EPS=0.14 | Chg30d=-17.62% | Revisions=+0% | GrowthEPS=-42.1% | GrowthRev=+2.5%
EPS next Year (2027-12-31): EPS=0.17 | Chg30d=+54.55% | Revisions=+0% | GrowthEPS=-10.5% | GrowthRev=+3.0%
[Analyst] Revisions Ratio: +0% (up=2, down=2)