Tearsheet

Independence Realty Trust (IRT)

Market Price (11/8/2025): $16.47 | Market Cap: $3.8 Bil
Sector: Real Estate | Industry: Multi-Family Residential REITs

Independence Realty Trust (IRT)

Market Price (11/8/2025): $16.47
Market Cap: $3.8 Bil
Sector: Real Estate
Industry: Multi-Family Residential REITs

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 44%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%	Weak multi-year price returns 2Y Excs Rtn is -25%, 3Y Excs Rtn is -65%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 59%
1	Attractive yield Dividend Yield is 3.9%		Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 38x, P/EPrice/Earnings or Price/(Net Income) is 173x
2	Low stock price volatility Vol 12M is 24%

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 44%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%
1	Attractive yield Dividend Yield is 3.9%
2	Low stock price volatility Vol 12M is 24%
3	Weak multi-year price returns 2Y Excs Rtn is -25%, 3Y Excs Rtn is -65%
4	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 59%
5	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 38x, P/EPrice/Earnings or Price/(Net Income) is 173x

Market Valuation & Key Metrics

	11/8/25	2024	2023	2022	2021
Share Price CYE	$16.47	$19.30	$14.37	$15.22	$22.68
Market Cap CYE ($ Bil)	3.8	4.3	3.2	3.4	2.8
Total Debt ($ Bil)	2.3	2.3	2.5	2.6	2.7
Total Cash ($ Bil)	0.0	0.0	0.0	0.0	0.0
Enterprise Value ($ Bil)	6.1	6.6	5.7	6.0	5.5
Valuation Ratios
P/S TTM	5.9	7.0	5.2	6.0	11.2
P/EBIT TTM	38.1	38.4	47.6	18.0	34.2
P/E TTM	172.6	113.5	-199.3	31.9	62.9
Sector Ratios
P/S TTM (Sector)	3.7	4.0	4.2	4.4	6.6
P/EBIT TTM (Sector)	11.4	12.6	13.1	13.1	16.2
P/E TTM (Sector)	16.1	19.1	19.2	18.0	23.4

	11/8/25	2024	2023
Share Price CYE	$16.47	$19.30	$14.37
Market Cap CYE ($ Bil)	3.8	4.3	3.2
Total Debt ($ Bil)	2.3	2.3	2.5
Total Cash ($ Bil)	0.0	0.0	0.0
Enterprise Value ($ Bil)	6.1	6.6	5.7
Valuation Ratios
P/S TTM	5.9	7.0	5.2
P/EBIT TTM	38.1	38.4	47.6
P/E TTM	172.6	113.5	-199.3
Sector Ratios
P/S TTM (Sector)	3.7	4.0	4.2
P/EBIT TTM (Sector)	11.4	12.6	13.1
P/E TTM (Sector)	16.1	19.1	19.2

	IRT	S&P 500
REVENUE GROWTH	POOR
Rev LTM ($ Bil)	0.7
Rev Chg Q	4.4%	7.2%
Rev Chg LTM	0.8%	6.0%
Rev Chg 3Y Avg	6.7%	5.5%
PROFITABILITY	POOR
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.3
Net Inc LTM ($ Bil)	0.0
Op Mgn LTM	18.8%	18.8%
CFO/Rev LTM	43.8%	20.5%
Net Inc Mgn	3.4%	13.0%
VALUATION	HIGH
P/S	5.9	3.2
P/CFO	13.5	15.2
P/FCF	30.4	20.0
P/E	172.6	23.6

AI Generated Analysis | Feedback

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IRT Stock

Return (1M): 1.79%

Factor Drivers of Stock Movement

The -3.4% change in IRT stock from 8/8/2025 to 11/7/2025 was primarily driven by a -20.6% change in the company's Net Income Margin (%).

	8082025	11072025	Change
Stock Price ($)	17.05	16.47	-3.41%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	644.53	651.53	1.09%
Net Income Margin (%)	4.31%	3.42%	-20.57%
P/E Multiple	143.41	172.63	20.38%
Shares Outstanding (Mil)	233.50	233.63	-0.06%
Cumulative Contribution			-3.41%

LTM = Last Twelve Months as of date shown

The -12.1% change in IRT stock from 5/9/2025 to 11/7/2025 was primarily driven by a -27.1% change in the company's Net Income Margin (%).

	5092025	11072025	Change
Stock Price ($)	18.73	16.47	-12.07%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	640.74	651.53	1.68%
Net Income Margin (%)	4.69%	3.42%	-27.10%
P/E Multiple	143.72	172.63	20.11%
Shares Outstanding (Mil)	230.72	233.63	-1.26%
Cumulative Contribution			-12.09%

LTM = Last Twelve Months as of date shown

The -16.9% change in IRT stock from 11/7/2024 to 11/7/2025 was primarily driven by a -14.3% change in the company's P/S Multiple.

	11072024	11072025	Change
Stock Price ($)	19.81	16.47	-16.85%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	646.12	651.53	0.84%
P/S Multiple	6.89	5.91	-14.31%
Shares Outstanding (Mil)	224.82	233.63	-3.92%
Cumulative Contribution			-16.98%

LTM = Last Twelve Months as of date shown

The 11.8% change in IRT stock from 11/8/2022 to 11/7/2025 was primarily driven by a 492.7% change in the company's P/E Multiple.

	11082022	11072025	Change
Stock Price ($)	14.73	16.47	11.82%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	542.64	651.53	20.07%
Net Income Margin (%)	20.68%	3.42%	-83.46%
P/E Multiple	29.13	172.63	492.66%
Shares Outstanding (Mil)	221.96	233.63	-5.26%
Cumulative Contribution			11.51%

LTM = Last Twelve Months as of date shown

Why The Stock Moved

AI Generated Analysis | Feedback

Here are five key points for why Independence Realty Trust (IRT) stock moved by -0.8% during the approximate time period from July 31, 2025, to November 8, 2025:

1. Q3 2025 Earnings Per Share (EPS) Miss: Despite the company's Q3 2025 core Funds From Operations (FFO) per share being in line with expectations, the reported EPS of $0.03 notably missed the projected $0.08, marking a 62.5% negative surprise for investors.

2. Slight Revenue Miss in Q3 2025: Independence Realty Trust's revenue for the third quarter of 2025, totaling $166.89 million, was slightly below analyst expectations of $168.36 million.

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
IRT Return	0%	98%	-33%	-6%	34%	-17%	40%
Peers Return	-17%	25%	-21%	20%	13%	-3%	6%
S&P 500 Return	16%	27%	-19%	24%	23%	14%	108%
Monthly Win Rates [3]
IRT Win Rate	67%	83%	50%	50%	42%	20%
Peers Win Rate	42%	71%	40%	53%	62%	40%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
IRT Max Drawdown	-49%	-3%	-41%	-26%	-6%	-22%
Peers Max Drawdown	-46%	-4%	-29%	-13%	-11%	-11%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: RITM, CUZ, PECO, BXMT, AVB.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 11/7/2025 (YTD)

How Low Can It Go

Unique Key	Event	IRT	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-57.1%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	132.8%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-57.3%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	134.4%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	382 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-21.4%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	27.3%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	349 days	120 days

Compare to RITM, CUZ, PECO, BXMT, AVB

In The Past

Independence Realty Trust's stock fell -57.1% during the 2022 Inflation Shock from a high on 4/21/2022. A -57.1% loss requires a 132.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Independence Realty Trust (IRT)

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 on capital through distributions and capital appreciation.

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Better Bets than Independence Realty Trust (IRT)

	IRT	Better Performance than IRT
Metric	Value	Industry (Multi-Family Residential REITs)
Rev Chg LTM	0.8%	AVB (4.7%), EQR (4.4%), ESS (7.6%), SUI (31.4%), MAA (1.2%)
Rev Chg 3Y Avg	6.7%	SUI (7.0%), UMH (10.0%), BRT (37.1%), CLPR (7.1%), BHM (34.0%)
Op Mgn LTM	18.8%	AVB (30.4%), EQR (28.1%), ESS (26.4%), MAA (28.9%), CLPR (27.7%)
CFO/Rev LTM	43.8%	AVB (53.1%), EQR (50.6%), ESS (56.1%), MAA (49.9%), UDR (51.8%)
FCF/Rev LTM	19.4%	AVB (45.0%), EQR (40.4%), ESS (48.5%), SUI (25.3%), MAA (34.4%)
Total Yield	4.5%	AVB (5.6%), EQR (9.0%), ESS (8.6%), SUI (12.3%), MAA (8.4%)

	IRT	Better Performance than IRT
Metric	Value	Sector (Real Estate)
Rev Chg LTM	0.8%	WELL (32.6%), PLD (10.7%), AMT (4.2%), EQIX (5.4%), SPG (4.2%)
Rev Chg 3Y Avg	6.7%	WELL (20.9%), PLD (18.1%), EQIX (8.5%), DLR (9.1%), O (21.5%)
Op Mgn LTM	18.8%	PLD (39.8%), AMT (46.4%), EQIX (20.6%), SPG (50.7%), O (45.7%)
CFO/Rev LTM	43.8%	PLD (59.3%), AMT (50.1%), SPG (65.3%), O (67.1%), PSA (67.3%)
FCF/Rev LTM	19.4%	WELL (28.2%), PLD (59.3%), AMT (35.3%), SPG (50.7%), DLR (41.6%)
Total Yield	4.5%	AMT (7.3%), O (7.4%), VICI (14.2%), EXR (8.2%), AVB (5.6%)

	IRT	Better Performance than IRT
Metric	Value	All Other Sectors
Rev Chg LTM	0.8%	NVDA (71.6%), AAPL (6.0%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%)
Rev Chg 3Y Avg	6.7%	NVDA (92.0%), MSFT (13.2%), GOOGL (11.0%), AMZN (11.3%), AVGO (24.0%)
Op Mgn LTM	18.8%	NVDA (58.1%), AAPL (31.9%), MSFT (46.3%), GOOGL (32.2%), AVGO (39.0%)
CFO/Rev LTM	43.8%	NVDA (46.6%), MSFT (50.0%), META (56.8%), MA (56.1%), V (57.6%)
FCF/Rev LTM	19.4%	NVDA (43.6%), AAPL (23.5%), MSFT (26.6%), AVGO (41.6%), META (23.7%)
Total Yield	4.5%	BRK-B (6.3%), JPM (6.7%), XOM (9.5%), JNJ (8.3%), V (5.4%)

		Best Bets In Real Estate Sector
	IRT	CTRE	WPC	ADC	NNN	OHI	O	EPRT	GLPI	EPR	FCPT
What You Pay
P/E	172.6	29.3	40.7	42.2	19.5	23.9	54.0	25.2	16.4	19.4	23.0
P/EBIT	38.1	25.5	21.4	25.2	13.0	16.3	24.3	17.7	10.8	11.8	15.6
What You Get
Rev Chg Q	4.4%	82.4%	8.5%	18.7%	5.3%	12.9%	9.1%	23.7%	3.2%	4.3%	11.0%
Rev Chg LTM	0.8%	47.6%	5.6%	14.7%	4.5%	13.7%	14.7%	24.2%	4.4%	4.2%	8.3%
Rev Chg 3Y Avg	6.7%	21.2%	5.6%	19.5%	6.0%	6.3%	21.5%	24.2%	7.4%	3.9%	9.5%
FCF/Rev 3Y Avg	10.6%	88.9%	84.4%	73.1%	73.6%	71.6%	69.5%	69.3%	65.4%	63.9%	61.3%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 9.6%, alpha of 3.1%, and sharpe of 0.44

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Independence Realty Trust Earnings Notes
2	How Low Can Independence Realty Trust Stock Really Go?	Return
3	Independence Realty Trust vs Microsoft: Which Is A Better Investment?	Counter-Intuitive Comparisons
4	Independence Realty Trust vs Prologis: Which Is A Better Investment?	Counter-Intuitive Comparisons
5	Independence Realty Trust vs AvalonBay Communities: Which Is A Better Investment?	Counter-Intuitive Comparisons
6	Better Bet Than IRT Stock: Pay Less Than Independence Realty Trust To Get More From RCL, CCL
7	Better Bet Than IRT Stock: Pay Less Than Independence Realty Trust To Get More From RHP, VICI
8	Why Independence Realty Trust Stock Moved: IRT Stock Has Lost 30% Since 2021 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S)
9	IRT Dip Buy Analysis
10	Independence Realty Trust (IRT) Valuation Ratios Comparison	Financials
11	ARTICLES
12	Stocks Trading At 52-Week Low		September 25th, 2025

	Title
0	DASHBOARDS
1	Independence Realty Trust Earnings Notes
2	How Low Can Independence Realty Trust Stock Really Go?
3	Independence Realty Trust vs Microsoft: Which Is A Better Investment?
4	Independence Realty Trust vs Prologis: Which Is A Better Investment?
5	Independence Realty Trust vs AvalonBay Communities: Which Is A Better Investment?
6	Better Bet Than IRT Stock: Pay Less Than Independence Realty Trust To Get More From RCL, CCL
7	Better Bet Than IRT Stock: Pay Less Than Independence Realty Trust To Get More From RHP, VICI
8	Why Independence Realty Trust Stock Moved: IRT Stock Has Lost 30% Since 2021 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S)
9	IRT Dip Buy Analysis
10	Independence Realty Trust (IRT) Valuation Ratios Comparison
11	ARTICLES
12	Stocks Trading At 52-Week Low

Trade Ideas

Select past ideas related to IRT. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
MPW_10312025_Short_Squeeze	10312025	MPW	Medical Properties Trust	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	-1.9%	-1.9%	-5.8%
IRT_1312022_Quality_Momentum_RoomToRun_10%	01312022	IRT	Independence Realty Trust	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-5.1%	-15.8%	-33.2%
IRT_2292020_Quality_Momentum_RoomToRun_10%	02292020	IRT	Independence Realty Trust	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-7.8%	11.3%	-45.8%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
MPW_10312025_Short_Squeeze	10312025	MPW	Medical Properties Trust	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	-1.9%	-1.9%	-5.8%
IRT_1312022_Quality_Momentum_RoomToRun_10%	01312022	IRT	Independence Realty Trust	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-5.1%	-15.8%	-33.2%
IRT_2292020_Quality_Momentum_RoomToRun_10%	02292020	IRT	Independence Realty Trust	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-7.8%	11.3%	-45.8%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ORGO	Organogenesis	0.7	44.7%	75.9%
GMED	Globus Medical	11.3	35.9%	1.4%
KODK	Eastman Kodak	0.6	33.2%	18.6%
GCT	GigaCloud Technology	1.3	30.0%	78.8%
FROG	JFrog	6.9	27.0%	104.0%
PGNY	Progyny	1.9	24.2%	29.7%
TNDM	Tandem Diabetes Care	1.1	22.0%	-54.9%
OS	OneStream	4.1	19.2%	-20.3%
FLGT	Fulgent Genetics	0.8	18.2%	42.7%
UAMY	United States Antimony	1.0	17.8%	370.1%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
AIRS	AirSculpt Technologies	0.4	-41.7%	17.9%
FOXF	Fox Factory	0.7	-25.5%	-45.9%
ASTH	Astrana Health	1.3	-23.5%	-19.0%
CERT	Certara	1.4	-23.1%	-18.6%
NTLA	Intellia Therapeutics	1.0	-22.7%	-18.4%
DNA	Ginkgo Bioworks	0.5	-20.8%	-8.9%
SIGA	SIGA Technologies	0.5	-20.0%	20.2%
UI	Ubiquiti	37.0	-19.4%	85.3%
EVCM	EverCommerce	1.7	-19.3%	-15.1%
PSIX	Power Solutions International	1.5	-19.1%	120.8%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TERN	Terns Pharmaceuticals	1.7	123.6%	233.4%
GDEN	Golden Entertainment	0.8	44.7%	-4.9%
FSLY	Fastly	1.7	39.4%	22.5%
GMED	Globus Medical	11.3	38.9%	1.4%
CSIQ	Canadian Solar	1.9	37.1%	156.0%
HAE	Haemonetics	3.3	36.7%	-12.4%
ESTA	Establishment Labs	1.9	35.6%	41.1%
APPN	Appian	3.0	34.6%	22.2%
XMTR	Xometry	3.3	33.1%	51.9%
ORGO	Organogenesis	0.7	32.5%	75.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
QURE	uniQure	1.5	-58.9%	57.4%
ASPN	Aspen Aerogels	0.3	-52.6%	-67.5%
BHVN	Biohaven	0.8	-52.0%	-77.9%
DD	DuPont de Nemours	16.7	-51.3%	-46.9%
SOC	Sable Offshore	0.5	-48.9%	-76.7%
BLZE	Backblaze	0.3	-43.7%	-3.7%
CCOI	Cogent Communications	1.1	-43.1%	-67.5%
NVTS	Navitas Semiconductor	1.6	-41.8%	119.6%
AIRS	AirSculpt Technologies	0.4	-41.2%	17.9%
ACVA	ACV Auctions	0.9	-40.5%	-75.0%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
PRAX	Praxis Precision Medicines	3.6	207.2%	118.6%
INBX	Inhibrx Biosciences	1.2	130.5%	424.0%
VTYX	Ventyx Biosciences	0.6	127.2%	300.5%
TERN	Terns Pharmaceuticals	1.7	117.3%	233.4%
PUMP	ProPetro	1.1	95.6%	15.1%
SNDK	SanDisk	34.7	84.7%
REPL	Replimune	0.8	79.5%	-31.4%
CSIQ	Canadian Solar	1.9	78.3%	156.0%
VICR	Vicor	3.9	66.2%	80.9%
ESTA	Establishment Labs	1.9	62.0%	41.1%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
SOC	Sable Offshore	0.5	-72.8%	-76.7%
NTLA	Intellia Therapeutics	1.0	-62.6%	-18.4%
QURE	uniQure	1.5	-56.3%	57.4%
FMC	FMC	1.8	-53.2%	-69.9%
BHVN	Biohaven	0.8	-52.1%	-77.9%
ASPN	Aspen Aerogels	0.3	-51.4%	-67.5%
LRN	Stride	3.1	-50.3%	-30.7%
FI	Fiserv	35.1	-49.4%	-69.0%
WOLF	Wolfspeed	2.8	-49.3%
ELF	e.l.f. Beauty	4.2	-49.1%	-41.3%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ORGO	Organogenesis	0.7	44.7%	75.9%
GMED	Globus Medical	11.3	35.9%	1.4%
KODK	Eastman Kodak	0.6	33.2%	18.6%
GCT	GigaCloud Technology	1.3	30.0%	78.8%
FROG	JFrog	6.9	27.0%	104.0%
PGNY	Progyny	1.9	24.2%	29.7%
TNDM	Tandem Diabetes Care	1.1	22.0%	-54.9%
OS	OneStream	4.1	19.2%	-20.3%
FLGT	Fulgent Genetics	0.8	18.2%	42.7%
UAMY	United States Antimony	1.0	17.8%	370.1%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
AIRS	AirSculpt Technologies	0.4	-41.7%	17.9%
FOXF	Fox Factory	0.7	-25.5%	-45.9%
ASTH	Astrana Health	1.3	-23.5%	-19.0%
CERT	Certara	1.4	-23.1%	-18.6%
NTLA	Intellia Therapeutics	1.0	-22.7%	-18.4%
DNA	Ginkgo Bioworks	0.5	-20.8%	-8.9%
SIGA	SIGA Technologies	0.5	-20.0%	20.2%
UI	Ubiquiti	37.0	-19.4%	85.3%
EVCM	EverCommerce	1.7	-19.3%	-15.1%
PSIX	Power Solutions International	1.5	-19.1%	120.8%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TERN	Terns Pharmaceuticals	1.7	123.6%	233.4%
GDEN	Golden Entertainment	0.8	44.7%	-4.9%
FSLY	Fastly	1.7	39.4%	22.5%
GMED	Globus Medical	11.3	38.9%	1.4%
CSIQ	Canadian Solar	1.9	37.1%	156.0%
HAE	Haemonetics	3.3	36.7%	-12.4%
ESTA	Establishment Labs	1.9	35.6%	41.1%
APPN	Appian	3.0	34.6%	22.2%
XMTR	Xometry	3.3	33.1%	51.9%
ORGO	Organogenesis	0.7	32.5%	75.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
QURE	uniQure	1.5	-58.9%	57.4%
ASPN	Aspen Aerogels	0.3	-52.6%	-67.5%
BHVN	Biohaven	0.8	-52.0%	-77.9%
DD	DuPont de Nemours	16.7	-51.3%	-46.9%
SOC	Sable Offshore	0.5	-48.9%	-76.7%
BLZE	Backblaze	0.3	-43.7%	-3.7%
CCOI	Cogent Communications	1.1	-43.1%	-67.5%
NVTS	Navitas Semiconductor	1.6	-41.8%	119.6%
AIRS	AirSculpt Technologies	0.4	-41.2%	17.9%
ACVA	ACV Auctions	0.9	-40.5%	-75.0%

Peer Comparisons for Independence Realty Trust

Financials

	IRT	RITM	CUZ	PECO	BXMT	AVB	Median
Name	Independ.	Rithm Ca.	Cousins .	Phillips.	Blacksto.	AvalonBa.
Mkt Price	16.47	11.03	26.16	34.90	18.40	177.38	22.28
Mkt Cap	3.8	6.0	4.4	4.4	3.2	25.2	4.4
Rev LTM	652	2,981	964	712	508	3,013	838
Op Inc LTM	122	-	219	191	-	915	205
FCF LTM	127	-2,936	-80	201	224	1,356	164
FCF 3Y Avg	69	-1,260	156	208	365	1,382	182
CFO LTM	285	-2,931	417	336	224	1,599	311
CFO 3Y Avg	267	-1,216	383	313	365	1,593	339

Growth & Margins

	IRT	RITM	CUZ	PECO	BXMT	AVB	Median
Name	Independ.	Rithm Ca.	Cousins .	Phillips.	Blacksto.	AvalonBa.
Rev Chg LTM	0.8%	25.7%	16.4%	10.7%	-4.6%	4.7%	7.7%
Rev Chg 3Y Avg	6.7%	-3.7%	8.5%	7.9%	-4.5%	6.1%	6.4%
Rev Chg Q	4.4%	45.4%	18.7%	10.4%	21.1%	4.4%	14.5%
QoQ Delta Rev Chg LTM	1.1%	8.0%	4.2%	2.5%	4.8%	1.1%	3.3%
Op Mgn LTM	18.8%	-	22.7%	26.8%	-	30.4%	24.7%
Op Mgn 3Y Avg	20.7%	-	22.4%	25.6%	-	31.4%	24.0%
QoQ Delta Op Mgn LTM	-0.4%	-	0.0%	1.2%	-	-0.5%	-0.2%
CFO/Rev LTM	43.8%	-98.3%	43.2%	47.2%	44.1%	53.1%	44.0%
CFO/Rev 3Y Avg	41.0%	-41.9%	44.4%	48.1%	61.8%	55.5%	46.2%
FCF/Rev LTM	19.4%	-98.5%	-8.3%	28.2%	44.1%	45.0%	23.8%
FCF/Rev 3Y Avg	10.6%	-43.8%	19.8%	32.0%	61.8%	48.2%	25.9%

Valuation

	IRT	RITM	CUZ	PECO	BXMT	AVB	Median
Name	Independ.	Rithm Ca.	Cousins .	Phillips.	Blacksto.	AvalonBa.
Mkt Cap	3.8	6.0	4.4	4.4	3.2	25.2	4.4
P/S	5.9	2.0	4.6	6.2	6.2	8.4	6.0
P/EBIT	38.1	-	21.1	22.2	-	17.7	21.7
P/E	172.6	6.7	76.3	53.5	29.5	21.6	41.5
P/CFO	13.5	-2.0	10.5	13.0	14.1	15.8	13.3
Total Yield	4.5%	14.8%	6.1%	5.4%	13.6%	5.6%	5.9%
Dividend Yield	3.9%	0.0%	4.8%	3.5%	10.2%	1.0%	3.7%
FCF Yield 3Y Avg	1.9%	-19.8%	4.8%	4.8%	10.6%	5.0%	4.8%
D/E	0.6	5.4	0.8	0.6	5.0	0.4	0.7
Net D/E	0.6	3.7	0.8	0.6	4.9	0.3	0.7

Returns

	IRT	RITM	CUZ	PECO	BXMT	AVB	Median
Name	Independ.	Rithm Ca.	Cousins .	Phillips.	Blacksto.	AvalonBa.
1M Rtn	0.7%	0.7%	-5.6%	3.7%	0.0%	-4.8%	0.3%
3M Rtn	-3.4%	-8.1%	-0.9%	6.6%	-0.0%	-4.2%	-2.2%
6M Rtn	-12.1%	2.7%	-4.8%	-0.2%	2.0%	-12.2%	-2.5%
12M Rtn	-16.9%	13.1%	-13.5%	-7.0%	7.3%	-19.6%	-10.3%
3Y Rtn	11.8%	72.9%	26.3%	27.2%	6.3%	22.5%	24.4%
1M Excs Rtn	1.9%	2.4%	-3.6%	3.6%	2.5%	-4.5%	2.1%
3M Excs Rtn	-8.3%	-13.5%	-6.1%	0.2%	-4.1%	-8.9%	-7.2%
6M Excs Rtn	-31.0%	-16.2%	-23.7%	-19.1%	-16.9%	-31.0%	-21.4%
12M Excs Rtn	-30.6%	-1.7%	-28.4%	-23.0%	-5.7%	-35.3%	-25.7%
3Y Excs Rtn	-65.4%	-2.4%	-49.8%	-47.2%	-70.8%	-63.7%	-56.7%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/30/2025	2/18/2025	2/28/2024	2/23/2023	2/24/2022	2/18/2021	2/18/2020
Key Financials
Total Revenue	652	640	661	629	250	212	203
Net Income	22	39	-17	117	45	15	46
EPS	0.10	0.17	-0.08	0.53	0.41	0.16	0.51
Growth Rates
Total Revenue Growth	0.8%	-3.2%	5.2%	151.2%	18.1%	4.3%	6.3%
Net Income Growth	10278.1%	328.1%	-114.7%	163.0%	201.9%	-67.8%	74.6%
Margins
Net Income Margin	3.4%	6.1%	-2.6%	18.7%	17.8%	7.0%	22.6%
Cash & Debt
Total Cash	23	21	23	16	36	9	10
Total Debt	2,296	2,334	2,549	2,632	2,705	946	986
Net Debt / (Cash)	2,273	2,312	2,527	2,616	2,669	937	976
Cash Flows
Net Cash from Operations	285	260	262	250	52	75	75
Free Cash from Operations	127	85	49	104	9	38	29
Returns to Shareholders
Dividends	150	144	135	106	50	56	65
Share Repurchases	3	3	5	6	3	1	1

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/30/2025	7/31/2025	5/1/2025	2/18/2025	10/31/2024	8/1/2024	4/30/2024	2/28/2024	10/31/2023	7/27/2023	4/28/2023	2/23/2023
Key Financials Quarterly
Total Revenue	167	162	161	161	160	158	161	167	169	164	161	163
Net Income	7	8	8	-1	12	10	18	-41	4	11	9	34
EPS	0.03	0.03	0.04	0.00	0.05	0.05	0.08	-0.18	0.02	0.05	0.04	0.15
Key Financials TTM
Total Revenue TTM	652	645	641	640	646	655	660	661	657	649	640	629
Net Income TTM	22	28	30	39	-0	-9	-8	-17	57	69	51	117
Growth Rates Quarterly
Total Revenue Growth	4.4%	2.4%	0.4%	-3.6%	-5.0%	-3.4%	-0.5%	2.6%	5.0%	5.9%	7.3%	111.7%
Net Income Growth	-44.3%	-22.3%	-52.5%	97.5%	214.6%	-3.3%	103.2%	-220.5%	-75.8%	248.6%	-88.4%	17.5%
Margins Quarterly
Net Income Margin	4.1%	5.0%	5.2%	-0.6%	7.7%	6.5%	10.9%	-24.3%	2.3%	6.5%	5.4%	20.7%
Cash & Debt
Total Cash	23	19	29	21	18	21	21	23	17	14	12	16
Total Debt	2,296	2,250	2,254	2,334	2,287	2,253	2,277	2,549	2,716	2,651	2,629	2,632
Net Debt / (Cash)	2,273	2,230	2,225	2,312	2,269	2,232	2,256	2,527	2,698	2,636	2,616	2,616
Cash Flows Quarterly
FCF from Operations	79	82	60	63	69	83	44	59	76	80	47	58
Cash Flows TTM
FCF from Operations TTM	285	275	276	260	255	262	259	262	261	265	256	250
Returns to Shareholders Quarterly
Dividends	40	37	37	36	36	36	36	36	36	31	32	31
Share Repurchases	0	2	1	0	0	1	2	0	1	0	4	0
Return on Invested Capital (ROIC) Quarterly
ROIC	2.0%	1.8%	1.8%	2.4%	2.1%	2.0%	2.0%	2.5%	2.4%	2.2%	2.1%	2.6%
Return on Invested Capital (ROIC) TTM
ROIC TTM	1.9%	2.0%	2.0%	2.1%	2.2%	2.3%	2.4%	2.3%	2.3%	2.3%	1.9%	1.5%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Same-store	585
Non same-store	75
Other income	1	1	1	1	1
Other property revenue		26	9	8	8
Rental revenue		601	241	204	195
Total	661	629	250	212	203

Operating Income by Segment

$ Mil	2024	2023	2022	2021	2020
Same-store	370
Non same-store	46
Other revenue	1
General and administrative expenses	-23
Property management expenses	-27
Depreciation and amortization	-219
Total	148

Price Behavior

Price Behavior

Market Price	$16.47
Market Cap ($ Bil)	3.8
First Trading Date	08/13/2013
Distance from 52W High	-22.4%
	50 Days	200 Days
DMA Price	$16.56	$18.04
DMA Trend	down	down
Distance from DMA	-0.6%	-8.7%
	3M	1YR
Volatility	23.5%	24.3%
Downside Capture	39.12	72.21
Upside Capture	9.61	43.86
Correlation (SPY)	12.1%	49.0%

IRT Betas & Captures as of 10/31/2025

	1M	2M	3M	6M	1Y	3Y
Beta	-0.17	0.09	0.12	0.55	0.61	0.85
Up Beta	1.91	1.96	1.59	0.91	0.59	0.80
Down Beta	-0.22	-0.42	-0.37	0.23	0.71	0.72
Up Capture	-74%	-54%	-18%	10%	30%	60%
Bmk +ve Days	14	27	37	74	145	425
Stock +ve Days	8	18	28	52	120	369
Down Capture	-67%	40%	-2%	92%	79%	101%
Bmk -ve Days	9	17	28	53	106	327
Stock -ve Days	14	25	36	73	128	374

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of IRT With Other Asset Classes (Last 1Y)
	IRT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-11.3%	-2.0%	18.9%	45.7%	0.7%	-1.3%	49.7%
Annualized Volatility	24.5%	17.8%	19.6%	19.9%	16.1%	18.0%	37.2%
Sharpe Ratio	-0.54	-0.26	0.76	1.78	-0.14	-0.22	0.85
Correlation With Other Assets		77.3%	49.4%	9.8%	12.8%	79.4%	18.1%

ETFs used for asset classes: Sector ETF = XLRE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of IRT With Other Asset Classes (Last 5Y)
	IRT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	9.9%	7.3%	17.1%	15.9%	13.8%	7.2%	49.2%
Annualized Volatility	27.7%	19.3%	17.1%	15.6%	18.9%	19.1%	49.3%
Sharpe Ratio	0.36	0.29	0.81	0.82	0.61	0.29	0.76
Correlation With Other Assets		75.2%	49.7%	16.8%	12.5%	77.4%	17.2%

Based On 10-Year Data

		Comparison of IRT With Other Asset Classes (Last 10Y)
	IRT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	13.5%	6.4%	14.3%	12.9%	5.1%	5.3%	77.5%
Annualized Volatility	30.4%	20.7%	18.0%	14.7%	17.7%	20.9%	56.2%
Sharpe Ratio	0.48	0.28	0.69	0.72	0.22	0.23	0.95
Correlation With Other Assets		72.8%	54.1%	10.6%	16.6%	75.8%	11.0%

Short Interest

Short Interest: As Of Date	10152025
Short Interest: Shares Quantity	15,328,460
Short Interest: % Change Since 9302025	-12.5%
Average Daily Volume	3,140,167
Days-to-Cover Short Interest	4.88
Basic Shares Quantity	233,634,546
Short % of Basic Shares	6.6%

Returns Analyses

	Title
0	How Low Can Independence Realty Trust Stock Really Go?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/29/2025	4.3%	7.5%
7/30/2025	-2.1%	-0.3%	4.3%
4/30/2025	-1.4%	-0.4%	-4.3%
2/12/2025	2.2%	3.4%	4.5%
10/30/2024	-0.7%	2.4%	10.5%
7/31/2024	2.9%	4.9%	9.6%
4/24/2024	-0.6%	0.0%	5.3%
2/14/2024	6.7%	4.5%	7.1%
...
SUMMARY STATS
# Positive	12	12	16
# Negative	12	12	8
Median Positive	4.2%	4.4%	6.4%
Median Negative	-1.3%	-3.2%	-5.8%
Max Positive	6.7%	12.1%	23.1%
Max Negative	-8.3%	-17.4%	-21.6%

	Forward Returns
10/29/2025	4.3%	7.5%
7/30/2025	-2.1%	-0.3%	4.3%
4/30/2025	-1.4%	-0.4%	-4.3%
2/12/2025	2.2%	3.4%	4.5%
10/30/2024	-0.7%	2.4%	10.5%
7/31/2024	2.9%	4.9%	9.6%
4/24/2024	-0.6%	0.0%	5.3%
2/14/2024	6.7%	4.5%	7.1%
10/30/2023	2.5%	8.2%	12.0%
7/26/2023	-2.9%	-3.6%	-5.8%
4/26/2023	4.5%	4.3%	5.7%
2/15/2023	-2.0%	-5.7%	-19.9%
10/26/2022	4.1%	2.5%	10.8%
7/27/2022	3.5%	-1.7%	-3.4%
5/3/2022	-5.1%	-17.4%	-10.6%
1/10/2022	-1.1%	-3.9%	-0.9%
10/27/2021	5.2%	7.2%	9.0%
7/26/2021	-8.3%	-1.0%	0.2%
4/28/2021	-0.8%	-4.6%	1.1%
2/10/2021	-0.2%	-2.7%	3.3%
10/28/2020	5.5%	12.1%	12.9%
7/30/2020	0.5%	2.5%	3.7%
5/6/2020	-0.2%	-4.7%	23.1%
2/12/2020	4.4%	-2.8%	-21.6%
SUMMARY STATS
# Positive	12	12	16
# Negative	12	12	8
Median Positive	4.2%	4.4%	6.4%
Median Negative	-1.3%	-3.2%	-5.8%
Max Positive	6.7%	12.1%	23.1%
Max Negative	-8.3%	-17.4%	-21.6%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10302025	10-Q 9/30/2025
6302025	7312025	10-Q 6/30/2025
3312025	5012025	10-Q 3/31/2025
12312024	2182025	10-K 12/31/2024
9302024	10312024	10-Q 9/30/2024
6302024	8012024	10-Q 6/30/2024
3312024	4302024	10-Q 3/31/2024
12312023	2282024	10-K 12/31/2023
9302023	10312023	10-Q 9/30/2023
6302023	7272023	10-Q 6/30/2023
3312023	4282023	10-Q 3/31/2023
12312022	2232023	10-K 12/31/2022
9302022	10272022	10-Q 9/30/2022
6302022	7282022	10-Q 6/30/2022
3312022	5042022	10-Q 3/31/2022
12312021	2242022	10-K 12/31/2021

Insider Activity

Expand for More

	Owner	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Gebert Richard D	10022025	Sell	16.42	500	8,210	671,118	Form
1	Gebert Richard D	9022025	Sell	17.88	500	8,940	739,731	Form
2	Gebert Richard D	7022025	Sell	17.58	500	8,790	744,900	Form
3	Gebert Richard D	6022025	Sell	18.40	500	9,200	788,845	Form
4	Gebert Richard D	5022025	Sell	19.01	500	9,505	726,068	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Independence Realty Trust (IRT)

Market Price (11/8/2025): $16.47 | Market Cap: $3.8 BilSector: Real Estate | Industry: Multi-Family Residential REITs

Independence Realty Trust (IRT)

Market Price (11/8/2025): $16.47Market Cap: $3.8 BilSector: Real EstateIndustry: Multi-Family Residential REITs

Market Valuation & Key Metrics

IRT Stock

Return vs. Risk

Price Returns Compared

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In The Past

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About Independence Realty Trust (IRT)

Interactive Breakdown

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Based On 1-Year Data

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Market Price (11/8/2025): $16.47 | Market Cap: $3.8 Bil
Sector: Real Estate | Industry: Multi-Family Residential REITs

Market Price (11/8/2025): $16.47
Market Cap: $3.8 Bil
Sector: Real Estate
Industry: Multi-Family Residential REITs