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Independence Realty (IRT)
NYSE:IRT
Holding IRT?
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IRT Stock Chart & Stats
Day’s Range$0 - $0
52-Week Range$11.61 - $21.18
Previous Close$20.85
Volume1.70M
Average Volume (3M)2.05M
Market Cap
$5.03B
Enterprise Value$7.34B
Total Cash (Recent Filing)$21.03M
Total Debt (Recent Filing)$2.20B
Price to Earnings (P/E)―
Beta1.13
Next Earnings
Oct 23, 2024EPS Estimate
$0.09Next Dividend Ex-Date
Sep 30, 2024Dividend Yield3.07%
Share Statistics
EPS (TTM)-0.04
Shares Outstanding225,120,618
10 Day Avg. Volume2,100,266
30 Day Avg. Volume2,046,395
Standard Deviation0.09
R-Squared0.44
Alpha-0.00022
Financial Highlights & Ratios
Price to Book (P/B)1.38
Price to Sales (P/S)7.18
Price to Cash Flow (P/CF)14.20
P/FCF Ratio16.70
Enterprise Value/Market CapN/A
Enterprise Value/Revenue11.27
Enterprise Value/Gross Profit18.85
Enterprise Value/Ebitda37.41
Forecast
1Y Price Target
$20.63Price Target Upside-2.32% Downside
Rating ConsensusStrong Buy
Number of Analyst Covering9
Independence Realty News
PremiumCompany Announcements
Independence Realty Elevates CFO and Advances Stock Strategy
PremiumCompany Announcements
Independence Realty Issues Financial Results DisclaimerBulls Say, Bears Say
Bulls Say
Capital RaisingIRT has raised accretive capital totaling $370mm, which will be used to grow through acquisition and push out the maturity profile.
Financial FlexibilityThe company completed their Portfolio Optimization and Deleveraging Strategy, bolstering their financial flexibility and reducing leverage.
NOI GrowthIRT is positioned to drive outsized NOI growth in the coming years as apartment construction deliveries are projected to decline materially while the cost of homeownership remains high.
Bears Say
Lease Rental Rate GrowthStock performance will likely hinge on management commentary about the meaningful deceleration in new lease rental rate growth in July (-3.8% vs. -1.6% in 2Q24).
Revenue GuidanceIRT reduced 2024 SS Revenue guidance by 60bps to +3.15%.
Share IssuanceAnalyst is reducing estimates slightly due to the share issuance the company is likely to have over the next 12 months.
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Ownership Overview
4.00% Insiders
31.98% Mutual Funds
50.93% Other Institutional Investors
13.09% Public Companies and
Individual Investors
Risk Analysis
Main Risk Category
Finance & CorporateFinancial and accounting risks. Risks related to the execution of corporate activity and strategy
Website Traffic
Sorry, No Data AvailableThere is no website visitor data available for this stock.
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IRT FAQ
What was Independence Realty’s price range in the past 12 months?
Independence Realty lowest stock price was $11.61 and its highest was $21.18 in the past 12 months.
What is Independence Realty’s market cap?
Currently, no data Available
When is Independence Realty’s upcoming earnings report date?
Independence Realty’s upcoming earnings report date is Oct 23, 2024 which is in 33 days.
How were Independence Realty’s earnings last quarter?
Independence Realty released its earnings results on Jul 31, 2024. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by -$0.01.
Is Independence Realty overvalued?
According to Wall Street analysts Independence Realty’s price is currently Overvalued.
Does Independence Realty pay dividends?
Independence Realty pays a Quarterly dividend of $0.16 which represents an annual dividend yield of 3.07%. See more information on Independence Realty dividends here
What is Independence Realty’s EPS estimate?
Independence Realty’s EPS estimate is $0.09.
How many shares outstanding does Independence Realty have?
Independence Realty has 235,120,620 shares outstanding.
What happened to Independence Realty’s price movement after its last earnings report?
Independence Realty reported an EPS of $0.05 in its last earnings report, missing expectations of $0.06. Following the earnings report the stock price went up 2.895%.
Which hedge fund is a major shareholder of Independence Realty?
Among the largest hedge funds holding Independence Realty’s share is Fisher Asset Management LLC. It holds Independence Realty’s shares valued at 37M.
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Independence Realty Stock Smart Score
Unlock Smart Score
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Analyst Consensus
Strong Buy
Average Price Target:
$20.63 (-2.32% Downside)
$20.63 (-2.32% Downside)
Blogger Sentiment
Bullish
IRT Sentiment 100%
Sector Average 68%
Sector Average 68%
Hedge Fund Trend
Decreased
By 864.6K Shares
Last Quarter.
Last Quarter.
Crowd Wisdom
Very Negative
Last 7 Days ▼ 1.7%
Last 30 Days ▼ 4.9%
Last 30 Days ▼ 4.9%
News Sentiment
Very Bullish
Bullish news 100%
Bearish news 0%
Bearish news 0%
Technicals
SMA
Positive
20 days / 200 days
Momentum
39.38%
12-Months-Change
Fundamentals
Return on Equity
-0.25%
Trailing 12-Months
Asset Growth
-8.86%
Trailing 12-Months
Company Description
Independence Realty
Independence Realty Trust, Inc. is a real estate investment trust. It 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 Earnings Call
Q2 2024
0:00 / 0:00
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IRT Stock 12 Month Forecast
Average Price Target
$20.63
▼(-2.32% Downside)
Technical Analysis
Best Analysts Covering IRT
1 Year
1 Year Success Rate
10/13 ratings generated profit
1 Year Average Return
+29.17%
reiterated a buy rating 2 months ago
Copying Merrill Ross's trades and holding each position for 1 Year would result in 76.92% of your transactions generating a profit, with an average return of +29.17% per trade.
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