NYSE: IRT · Residential REITs
Independence Realty Trust (IRT) fair value and price range
As of 28 Sep 2026, Faircurve's model values Independence Realty Trust (IRT) at $14.50 a share. The stock last closed at $14.51, which puts the model's fair value 0.1% below the price. No verdict is shown for IRT on this run. The fair value and its range are shown for reference.
Revalued . Price is the close of 2 Oct 2026. Independence Realty Trust, Inc.
Faircurve Insights · 28 Sep 2026
Independence Realty Trust, Inc. operates as a real estate investment trust specialising in owning and managing multifamily apartment communities. Their portfolio is concentrated in non-gateway U.S.
On 28 Sep 2026, Faircurve's model found a fair value of $14.50 a share. This fair value blends a cash-flow multiple against comparable companies, a dividend model, and the value of the properties. The previous run, on 19 Sep 2026, gave $14.71, so the fair value moved -1.4%. The calibrated range over 63 trading days is $12.17 to $17.68; ranges built this way held the price 60% of the time at this horizon. The evidence grade is High.
Faircurve's model compares Independence Realty Trust, Inc. with Millrose Properties, Inc., Camden Property Trust, UDR, Inc., American Homes 4 Rent, Equity LifeStyle Properties, Inc., Centerspace, Mid-America Apartment Communities, Inc., and Invitation Homes Inc. The stock moved around its last 8 earnings reports with a median size, ignoring direction, of 2.2%. The model first valued Independence Realty Trust, Inc. on 11 Jul 2026.
Written from the figures on this page for the 28 Sep 2026 valuation and checked by rule before publishing: every number is one printed here, no forecast, no instruction. The price, the gap and the verdict are the page's own and change daily. Not a recommendation.
What price range does the model give IRT?
The calibrated range for IRT over 63 trading days is $12.17 to $17.68. There is no live options data for this stock, so the range is built from the fair value and calibrated weekly against realised prices (n = 4,327 past valuations, refreshed 26 Sep 2026). Ranges built this way held the price 60% of the time at this horizon.
The model's own range is $13.26 to $16.07.
How does IRT compare with similar companies?
The companies in residential reits closest to Independence Realty Trust in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| MRP Millrose Properties, Inc. | $24.61 | $34.72 | +41.1% | Low evidence grade |
| CPT Camden Property Trust | $95.96 | $95.65 | -0.3% | No verdict on this run |
| UDR UDR, Inc. | $33.27 | $40.85 | +22.8% | No verdict on this run |
| AMH American Homes 4 Rent | $30.26 | $33.19 | +9.7% | No verdict on this run |
| ELS Equity LifeStyle Properties, Inc. | $58.25 | $42.53 | -27.0% | Low evidence grade |
| CSR Centerspace | $54.50 | $68.04 | +24.8% | No verdict on this run |
| MAA Mid-America Apartment Communities, Inc. | $115.22 | $121.16 | +5.2% | No verdict on this run |
| INVH Invitation Homes Inc. | $26.04 | $30.03 | +15.3% | No verdict on this run |
When does IRT report earnings, and how has the stock reacted?
Independence Realty Trust's next earnings report is scheduled for 4 Nov 2026. Companies can move their dates.
Options prices on 29 Sep 2026 imply a move of about 8.9% in either direction through the nearest expiry, about 16 days out. That is the size the market is pricing, not a direction.
How IRT moved around its last 8 earnings reports
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across these 8 reports, ignoring direction, was 2.2%.
| Report date | Two session move |
|---|---|
| 3 Aug 2026 | +2.6% |
| 29 Apr 2026 | -0.1% |
| 11 Feb 2026 | -6.6% |
| 29 Oct 2025 | -0.1% |
| 30 Jul 2025 | -4.3% |
| 30 Apr 2025 | -5.5% |
| 12 Feb 2025 | +1.7% |
| 30 Oct 2024 | -0.5% |
Independence Realty Trust at a glance
Independence Realty Trust (IRT), publicly traded as NYSE: IRT, operates as a real estate investment trust specializing in owning and managing multifamily apartment communities. Their portfolio is concentrated in non-gateway U.S.
- Market value
- $3.4B
- Sector
- Real Estate
- Industry
- Residential REITs
- Beta to the US market
- 0.11
- First valued by Faircurve
- 11 Jul 2026
How the fair value is worked out: the model values Independence Realty Trust three ways and blends them; the range around the fair value comes from 2,000 simulations of the dividend model. The full method is documented here.
What changed in the latest valuation?
On 19 Sep 2026 the model's fair value for IRT was $14.71. As of 28 Sep 2026 it is $14.50, a change of -1.4%. The model revalues every stock it covers each week, and again after an earnings report.
Questions about Independence Realty Trust's valuation
Is Independence Realty Trust stock undervalued or overvalued?
Faircurve's model puts IRT's fair value at $14.50 a share against a last close of $14.51, as of 28 Sep 2026. No verdict is shown for IRT on this run. The fair value and its range are shown for reference.
What is IRT's fair value?
$14.50 a share as of 28 Sep 2026. The fair value blends three methods: a cash-flow multiple against comparable companies, a dividend model, and the value of the properties. The model's own range is $13.26 to $16.07.
What price range does the model give IRT?
$12.17 to $17.68 over 63 trading days. Ranges built this way held the price 60% of the time across 4,327 past valuations, refreshed 26 Sep 2026.
When does Independence Realty Trust report earnings next?
The next report is scheduled for 4 Nov 2026. Companies can move their dates.
How much has IRT moved on past earnings reports?
Across its last 8 reports the median two session move was 2.2%, ignoring direction. The largest was -6.6% around the report of 11 Feb 2026.
How confident is the model in this valuation?
The model's evidence grade for IRT is high. For real estate investment trusts (REITs) the grade looks at the dividend record: at least three years of paid dividends with no cut. It is not a probability that the fair value is right, or that the price reaches it.