Professional
Added to YB: 2025-01-21
Pitch date: 2024-12-31
IRT [bullish]
Independence Realty Trust, Inc.
-20.42%
current return
Author Info
No bio for this author
Company Info
Independence Realty Trust, Inc., an S&P 400 MidCap Company, is a real estate investment trust that owns and operates multifamily communities across non-gateway U.
Market Cap
$3.4B
Pitch Price
$18.47
Price Target
N/A
Dividend
4.96%
EV/EBITDA
15.70
P/E
80.97
EV/Sales
8.79
Sector
Residential REITs
Category
value
Baron Discovery Fund New Position: Independence Realty Trust, Inc.
IRT: Multi-family REIT w/ 33k affordable units. Attractive due to: 1) Discounted valuation vs private & public peers 2) 'Value-add' program for superior growth 3) Less new supply in markets enhancing pricing power 4) Underappreciated cash flow from 2 new developments. Robust demand outlook across markets.
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