Independence Realty Trust, Inc. (IRT) Stock

Independence Realty Trust, Inc. (IRT) is a Real Estate stock trading at $16.58 (as of 2026-08-21), with a market capitalization of $3.91B and a trailing P/E of 166.1. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Independence Realty Trust, Inc. is a real estate investment trust that owns and operates multifamily apartment communities in non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. Its properties are held to serve renters while providing distributions and capital appreciation for its stockholders.

Understand Independence Realty Trust, Inc.: how it makes money

Independence Realty Trust, Inc. (IRT) owns and operates multifamily apartment properties in non-gateway U.S. markets, and it makes money primarily by collecting rental and other property revenue from those apartments.

IRT's profit model is driven mainly by rental and other property revenue generated by its multifamily apartment properties that it owns and operates.

Revenue by segment (latest quarter)
Rental & Other$0.2B
Other$0.0B

Business quality (Weak): The provided quarter snapshot includes total revenue and segment revenue, but it does not include property-level or margin details, which limits how precisely investors can judge operating performance.

Valuation: At 79× earnings, IRT trades 136% above the Trading average (34×). Note: one-time items can distort reported P/E.

Bull case

  • Focused business in multifamily apartments across non-gateway markets: IRT owns and operates multifamily apartment properties and targets scale in amenity rich submarkets, including markets such as Atlanta, Louisville, Memphis, and Raleigh.
  • Revenue is concentrated in core property collections: In the latest quarter, segment revenue shows that Rental and Other Property Revenue is the dominant contributor to total revenue.

Bear case

  • Lower diversification beyond property revenue: The segment mix indicates that most revenue comes from Rental and Other Property Revenue, with Other Revenue contributing little, which can make results more dependent on property-level fundamentals.
  • Performance depends on execution of portfolio management: IRT emphasizes diligent portfolio management and operational performance, so underperformance in those areas could affect results and the ability to sustain distributions.
Valuation — source: SEC EDGAR (first-party)
Price$16.58
Market Cap$3.91B
P/E Ratio166.1
Price / Book1.11
Price / Sales5.96
DCF Value (model)$22.47
DCF Upside vs Price35.5%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$657.70M
Net Margin8.6%
Revenue Growth (YoY)2.8%
EPS Growth (YoY)41.2%
Valuation vs Sector & Industry
Stock P/E166.1
Sector P/E (Real Estate)27.2
Industry P/E (Trading)35.3
vs Sector511.4%
vs Industry370.3%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($580.95M)
Institutional Holders Tracked10
Congressional Trades (recent)8
Company
SectorReal Estate
IndustryTrading
CEOScott F. Schaeffer
Employees917
CountryUS
IPO Date2013-08-13

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IRT earnings history · IRT institutional & insider holders · IRT KPIs & operating metrics · IRT financials · IRT investor presentations & press releases · IRT SEC filings · IRT peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.