Independence Realty Trust, Inc. (NYSE: IRT) is a real estate investment trust that owns and operates multifamily apartment properties across non-gateway U.S.
Proven track record second-rate dividend payer.
Share Price & News
How has Independence Realty Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: IRT has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: IRT exceeded the US REITs industry which returned 16.6% over the past year.
Return vs Market: IRT exceeded the US Market which returned 19.4% over the past year.
Price Volatility Vs. Market
How volatile is Independence Realty Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall StA Note On Independence Realty Trust, Inc.'s (NYSE:IRT) ROE and Debt To Equity
1 month ago | Simply Wall StDoes Independence Realty Trust, Inc.'s (NYSE:IRT) CEO Pay Reflect Performance?
2 months ago | Simply Wall StWho Has Been Selling Independence Realty Trust, Inc. (NYSE:IRT) Shares?
Is Independence Realty Trust undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: IRT ($16.31) is trading below our estimate of fair value ($18.51)
Significantly Below Fair Value: IRT is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: IRT is good value based on its PE Ratio (31.9x) compared to the REITs industry average (36.6x).
PE vs Market: IRT is poor value based on its PE Ratio (31.9x) compared to the US market (18.3x).
Price to Earnings Growth Ratio
PEG Ratio: IRT's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: IRT is overvalued based on its PB Ratio (2.4x) compared to the US REITs industry average (2.1x).
How is Independence Realty Trust forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: IRT's earnings are forecast to decline over the next 3 years (-43.2% per year).
Earnings vs Market: IRT's earnings are forecast to decline over the next 3 years (-43.2% per year).
High Growth Earnings: IRT's earnings are forecast to decline over the next 3 years.
Revenue vs Market: IRT's revenue (3.7% per year) is forecast to grow slower than the US market (7.6% per year).
High Growth Revenue: IRT's revenue (3.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if IRT's Return on Equity is forecast to be high in 3 years time
How has Independence Realty Trust performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: IRT has a large one-off gain of $35.2M impacting its December 31 2019 financial results.
Growing Profit Margin: IRT's current net profit margins (22.6%) are higher than last year (13.7%).
Past Earnings Growth Analysis
Earnings Trend: IRT's earnings have grown by 19.6% per year over the past 5 years.
Accelerating Growth: IRT's earnings growth over the past year (74.6%) exceeds its 5-year average (19.6% per year).
Earnings vs Industry: IRT earnings growth over the past year (74.6%) exceeded the REITs industry 8.2%.
Return on Equity
High ROE: IRT's Return on Equity (7.5%) is considered low.
Return on Assets
Return on Capital Employed
How is Independence Realty Trust's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: IRT has a high level of physical assets or inventory.
Debt Coverage by Assets: IRT's debt is not covered by short term assets (assets are 0x debt).
Financial Institutions Analysis
Asset Level: IRT's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if IRT has a sufficient allowance for bad loans.
Low Risk Liabilities: IRT reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if IRT has an acceptable proportion of non-loan assets held.
Low Risk Deposits: IRT has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if IRT has an appropriate level of bad loans.
What is Independence Realty Trust's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: IRT's dividend (4.41%) is higher than the bottom 25% of dividend payers in the US market (1.43%).
High Dividend: IRT's dividend (4.41%) is in the top 25% of dividend payers in the US market (3.7%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, IRT has been paying a dividend for less than 10 years.
Growing Dividend: IRT's dividend payments have increased, but the company has only paid a dividend for 6 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (114.6%), IRT's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: IRT's dividends in 3 years are forecast to be thoroughly covered by earnings (0.9% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Scott Schaeffer (57yo)
Mr. Scott F. Schaeffer has been the Chief Executive Officer at Independence Realty Trust, Inc. since February 8, 2013 and has been its Chairman since January 2011. Mr. Schaeffer served as Consultant of RAI ...
CEO Compensation Analysis
Compensation vs Market: Scott's total compensation ($USD3.58M) is about average for companies of similar size in the US market ($USD3.81M).
Compensation vs Earnings: Scott's compensation has increased by more than 20% in the past year.
|Chairman & CEO||7yrs||US$3.58m||0.29% $4.3m|
|CFO & Treasurer||7.8yrs||US$1.56m||0.093% $1.4m|
|Chief Accounting Officer||2yrs||no data||0.020% $301.5k|
|SVP, Edelman Financial Communications & Capital Markets||0yrs||no data||no data|
|Executive VP||0yrs||no data||0.015% $223.1k|
|Investor Relations Officer||0yrs||no data||no data|
Experienced Management: IRT's management team is seasoned and experienced (6.3 years average tenure).
|Chairman & CEO||7yrs||US$3.58m||0.29% $4.3m|
|Independent Director||2.3yrs||US$119.99k||0.013% $199.0k|
|Independent Director||4.4yrs||US$112.49k||0.063% $946.7k|
|Independent Director||9yrs||US$119.99k||0.034% $504.6k|
|Independent Director||2.7yrs||US$109.99k||0.013% $199.0k|
Experienced Board: IRT's board of directors are considered experienced (4.4 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3.1%.
Independence Realty Trust, Inc.'s company bio, employee growth, exchange listings and data sources
- Name: Independence Realty Trust, Inc.
- Ticker: IRT
- Exchange: NYSE
- Founded: 2009
- Industry: Residential REITs
- Sector: Real Estate
- Implied Market Cap: US$1.506b
- Market Cap: US$1.492b
- Shares outstanding: 91.61m
- Website: https://www.irtliving.com
Number of Employees
- Independence Realty Trust, Inc.
- 1835 Market Street
- Suite 2601
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|IRT||NYSE (New York Stock Exchange)||Yes||Common Stock||US||USD||Aug 2013|
Independence Realty Trust, Inc. (NYSE: IRT) is a real estate investment trust that owns and operates multifamily apartment properties across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT’s investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers. IRT aims to provide stockholders attractive risk-adjusted returns through diligent portfolio management, strong operational performance, and a consistent return of capital through distributions and capital appreciation.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/19 01:07|
|End of Day Share Price||2020/02/18 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.