Stock fact sheet · data as of
Independence Realty Trust, Inc. (IRT): fair value, margin of safety and Wheel Score
Real Estate · REIT - Residential · United States · High Yield Income
Is IRT undervalued?
Independence Realty Trust, Inc. (IRT) closed at 14.70 on 16 Oct 2026, 84% above the GLS average fair value of 7.98. 7 of the 9 models that produced a number value the shares below the current price. A gap this wide usually means the market is paying for growth or a story the trailing numbers do not show yet; the models work from filed results, not forecasts, so they are conservative by design.
There is a wide gap between GLS Growth (0.5407) and DCF (19.41). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files IRT under High Yield Income: a dividend yield above 4%.
Nine valuation models for IRT
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 19.41 | +32% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 7.70 | -48% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 5.47 | -63% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 2.01 | -86% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 0.5407 | -96% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 15.48 | +5% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 8.85 | -40% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 10.30 | -30% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 2.05 | -86% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -10.12 | -169% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 18.67 | +27% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Independence Realty Trust, Inc. scores 6 of 9 on the Piotroski F-score: a middling result that passes the Sunday Scan's "6 or more" rule. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. A GLS Moat score of 2.4/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC 1.0%, ROE 1.6%, ROA 0.9% - with debt at 0.66 times equity and a free-cash-flow yield of 4.1%.
The dividend yield is high at 4.76% (payout ratio 15%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Same Store 100% (quarter Q3 FY2025).
Institutional ownership scores 10/10, insider activity 2/10 and Congressional trading 10/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 1.0% |
|---|---|---|---|
| GLS Moat | 2.4 / 10 | ROE | 1.6% |
| Debt / equity | 0.66 | ROA | 0.9% |
| Free-cash-flow yield | 4.1% | Payout ratio | 15% |
| Institutions | 10 / 10 | Insiders · Congress | 2 · 10 / 10 |
Wheel Score 54: Fair
A Wheel Score of 54 puts Independence Realty Trust, Inc. in the Fair band - below the 70 the Sunday Scan requires. Value 0/25, Health 13/20, Moat 4/15, Premium 19/20 and Stability 18/20; the weakest part is Value (0/25).
Implied volatility is 64% on the near-the-money contracts 20-60 days out - above the 60% ceiling of the sweet spot. Premiums are large, but the Wheel Score tapers the Premium points (19 of 20) because volatility this high usually comes with a reason. Chain open interest is 2,605 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 4.6M shares a day on a market cap of $3.5B, with a beta of 0.98; the Stability part of the Wheel Score gives that 18 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 0 / 25 | -84% margin of safety | |
| Health | 13 / 20 | Piotroski 6/9 | |
| Moat | 4 / 15 | moat 2.4/10 | |
| Premium | 19 / 20 | implied volatility 64% | |
| Stability | 18 / 20 | 4.6M shares/day, $3.5B cap, beta 0.98 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 2 Nov 2026 (after the close), 17 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in REIT - Residential
The 12 companies below are the closest to Independence Realty Trust, Inc. by market cap within the REIT - Residential industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| MRP Millrose Properties, Inc. | 22.22 | 156.58 | +86% | 82Prime | $3.4B |
| UMH UMH Properties, Inc. | 15.03 | 13.17 | -14% | 56Fair | $1.3B |
| CPT Camden Property Trust | 98.19 | 84.06 | -17% | 56Fair | $9.9B |
| UDR UDR, Inc. | 33.96 | 30.05 | -13% | 63Fair | $10.9B |
| AMH American Homes 4 Rent | 30.97 | 30.76 | -1% | 80Prime | $11.1B |
| ELS Equity LifeStyle Properties, Inc. | 60.25 | 28.93 | -108% | 58Fair | $11.7B |
| CSR Centerspace | 55.88 | 74.14 | +25% | 71Good | $939M |
| MAA Mid-America Apartment Communities, Inc. | 116.27 | 72.10 | -61% | 50Fair | $13.5B |
| SUI Sun Communities, Inc. | 114.24 | 90.77 | -26% | 45Weak | $13.9B |
| INVH Invitation Homes Inc. | 26.80 | 21.36 | -25% | 55Fair | $15.8B |
| ESS Essex Property Trust, Inc. | 269.66 | 230.97 | -17% | 58Fair | $17.3B |
| VMRK Vivmark Residential | 60.80 | 59.36 | -2% | 65Good | $22.8B |
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Start free See the Sunday ScanQuestions about IRT
Is IRT undervalued right now?
No: at 14.70 the stock trades 84% above the GLS average fair value of 7.98 (data as of 16 Oct 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of IRT and what does it mean?
IRT scores 54 out of 100 (Fair). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for IRT?
7.98 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Independence Realty Trust, Inc. report earnings next?
The next earnings report is due on 2 Nov 2026 (after the close), 17 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does IRT have listed options, and how liquid are they?
Yes. The nightly snapshot found 108 listed contracts with 2,605 open interest across all expiries and implied volatility of 64% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.