Independence Realty Trust, Inc. (NYSE: IRT), an S&P MidCap 400 Company, is a real estate investment trust (“REIT”) that owns and operates multifamily communities across non-gateway U.S. markets. 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’s main objective is to provide attractive risk-adjusted returns to stockholders through diligent portfolio management, strong operational performance, and consistent returns on capital through distributions and capital appreciation.
Sunbelt REIT Surge | Independence Realty Trust's strategic focus on affordable housing in high-growth Sunbelt and Midwest markets drives impressive 43.66% year-to-date stock return |
Financial Fortification | Explore IRT's proactive balance sheet management, including $227.1M equity raise and $150M note placement, enhancing acquisition potential and reducing leverage |
Market Dynamics | Delve into projected multifamily supply decrease (2025-2028) and its potential impact on IRT's rental rates, occupancy, and NOI growth |
Analyst Perspectives | Average price target of $21.80 reflects varied views on IRT's growth potential amid improving market fundamentals and strategic positioning |
Metrics to compare | IRT | Sector Sector - Average of metrics from a broad group of related Real Estate sector companies | Relationship RelationshipIRTPeersSector | |
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P/E Ratio | 115.0x | −47.7x | 8.3x | |
PEG Ratio | 0.36 | −0.18 | 0.01 | |
Price/Book | 1.3x | 1.5x | 0.9x | |
Price / LTM Sales | 7.2x | 4.8x | 3.6x | |
Upside (Analyst Target) | 12.4% | 16.9% | 19.7% | |
Fair Value Upside | Unlock | −9.9% | 3.1% | Unlock |