Independence Realty Trust, Inc (IRT) Fair Value & Analysis
Real Estate · US · Market cap $3.8B
Independence Realty Trust, Inc
IRT · US
Fair value as of: Jul 26, 2026
From 13 valuation models · updated 15 days ago
Share price +2.4% over the past month.
Below-average quality, and screening another 66% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($7.09). The favourable scenario is already priced in.
- Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.
How to read this chart
60‑month range $11.01 – $24.31 · fair‑value band $5.91 – $7.09 · the $17.26 price screens above the $5.91 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 26, 2026.
Analysis
Independence Realty Trust, Inc (IRT) currently trades at $17.26, while our model-based Fair Value estimate is $5.91, implying the stock looks roughly 65.8% overvalued today. The Quality Score stands at 46/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Independence Realty Trust, Inc generated revenue of $672M at a net margin of 7.2%. Revenue grew 2.3% year over year. It earns a return on equity of 1.4%. Net debt stands at $2.2B. Fundamentals as of Jul 26, 2026
Our scenario range runs from $5.91 (bear case) to $7.09 (bull case); at $17.26, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 2% below its 52-week high and 18% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -44% fair-value upside, at -66%, IRT screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 13 models by family
Widest divergence: Asset-Based ($9.83) versus Growth DCF ($2.90). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 26, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 49 · Market factors (momentum, volatility) 60
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Independence Realty Trust, Inc. a Maryland corporation, is a self-administered and self-managed real estate investment trust (REIT) that acquires, owns, operates, improves and manages multifamily apartment communities across non-gateway U.S. markets.
Full company description
Independence Realty Trust, Inc. a Maryland corporation, is a self-administered and self-managed real estate investment trust (REIT) that acquires, owns, operates, improves and manages multifamily apartment communities across non-gateway U.S. markets. As of December 31, 2025, we owned and operated 114 multifamily apartment properties (including one owned through a consolidated joint venture) that contain an aggregate of 33,462 units in the following Southeastern and Midwestern states: Alabama, Colorado, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, and Texas. In addition, as of December 31, 2025, we owned one investment in real estate under development in Denver, Colorado that will, upon completion, contain 296 units. As of December 31, 2025, we also owned interests in four unconsolidated joint ventures, two of which own and operate multifamily apartment properties that contain an aggregate of 653 units and two that are developing multifamily apartment properties that will, upon completion, contain an aggregate of 642 units. Independence Realty Trust, Inc. was incorporated in 2009 in Maryland and is based in Philadelphia, United States.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Independence Realty Trust, Inc reported revenue of $658M in FY2025 versus $250M in FY2021, a compound +27.3%/yr. Reported net income was $56.6M in FY2025, compounding +6.1%/yr from FY2021.
IRT screens 66% overvalued. Compare with AvalonBay Communities, Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Independence Realty Trust Inc (IRT) (Q2 2026) Earnings Call Highlights: Market Recovery Signals ...
- Independence Realty Trust, Inc. Q2 2026 Earnings Call Summary
- Independence Realty Trust (IRT) Q2 FFO Beat Estimates
- Independence Realty Trust Announces Second Quarter 2026 Financial Results
Peer Group
REIT - Residential · 57 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs REIT - Residential median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 46/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more REIT - Residential stocks, each showing price versus our Fair Value estimate (as of Jul 26, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| AvalonBay Communities, Inc AVB | $190.80 | $126.12 | -34% |
| EQR EQR | $67.86 | $38.10 | -44% |
| Essex Property Trust, Inc ESS | $293.46 | $177.90 | -39% |
| Invitation Homes INVH | $29.78 | $16.82 | -44% |
| Mid-America Apartment Communities, Inc MAA | $133.88 | $65.28 | -51% |
| Sun Communities, Inc SUI | $121.83 | $114.79 | -6% |
| UDR, Inc UDR | $39.59 | $19.76 | -50% |
| American Homes 4 Rent (AMH or the General Partner) AMH | $33.11 | $21.44 | -35% |
| Equity LifeStyle Properties, Inc ELS | $66.05 | $21.27 | -68% |
| Camden Property Trust, an S&P 500 Company CPT | $113.73 | $41.87 | -63% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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