Independence Realty Trust, Inc. (IRT) Price Target Analysis
Wall Street analyst price targets, ratings consensus & upside potential · Updated May 1, 2026
Current Price
$16.50
Price Target
$20.08
Target Range
$18.00 — $22.00
Analyst Rating
Buy
Forward P/E100.7x
Trailing P/E68.8x
Forward PEG—
Implied Growth-17.5%
Median Target$20.50
Analyst Spread19.9%
Price Forecast (1 Year)
Last 12 months price action with 12-month analyst target path
Bear Case
$18
+9.1%
Consensus
$20
+21.7%
Bull Case
$22
+33.3%
Valuation Model TargetsConfidence: 42/100
Bear$14
Base$14
Bull$72
IRT Price Target Analysis
Updated May 6, 2026As of May 6, 2026, Independence Realty Trust, Inc. (IRT) has a Wall Street consensus price target of $20.08, based on estimates from 27 covering analysts. With the stock currently trading at $16.50, this represents a potential upside of +21.7%. The company has a market capitalization of $3.89B.
Analyst price targets range from a low of $18.00 to a high of $22.00, representing a 20% spread in expectations. The median target of $20.50 aligns closely with the consensus average. The tight target dispersion indicates high conviction among analysts.
The current analyst consensus rating is Buy, with 19 analysts rating the stock as a Buy or Strong Buy,8 rating it Hold, and 0 rating it Sell or Strong Sell. This overwhelmingly bullish sentiment suggests analysts see significant catalysts for upside ahead.
From a valuation perspective, IRT trades at a trailing P/E of 68.8x and forward P/E of 100.7x. Analysts expect EPS to grow -17.5% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $14.07, with bear and bull scenarios of $13.78 and $71.93 respectively. Model confidence stands at 42/100, suggesting limited visibility into future performance.
Investment Context: Price targets represent analyst expectations for the next 12 months and should be considered alongside your own research. Targets are based on analysts' assumptions about earnings growth, margins, and market conditions which may change. For sector-specific context, view other Real Estate stocks.
Analyst Sentiment Comparison
Industry Peer AnalysisAvg Peer Upside+18.6%
Avg Forward P/E45.4x
Peers with Coverage10 / 10
| Company | Market Cap | Price | Target | Upside | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 NMRNomura Holdings, Inc. | $22.8B | $7.89 | $5.79 | -26.6% | Hold | 9.7x | 9 |
 MAAMid-America Apartment Communities, Inc. | $15.1B | $130.16 | $143.71 | +10.4% | Buy | 39.0x | 37 |
 CPTCamden Property Trust | $11.0B | $104.74 | $112.48 | +7.4% | Hold | 68.4x | 41 |
 UDRUDR, Inc. | $12.0B | $36.94 | $40.25 | +9.0% | Buy | 66.1x | 38 |
 AIVApartment Investment and Management Company | $596M | $4.25 | $10.00 | +135.3% | Hold | — | 3 |
 NXRTNexPoint Residential Trust, Inc. | $748M | $29.48 | $27.00 | -8.4% | Hold | — | 10 |
 EQREquity Residential | $24.8B | $66.25 | $70.15 | +5.9% | Hold | 50.9x | 46 |
 AVBAvalonBay Communities, Inc. | $25.8B | $185.25 | $191.70 | +3.5% | Hold | 37.6x | 42 |
 ESSEssex Property Trust, Inc. | $17.2B | $266.69 | $279.20 | +4.7% | Hold | 46.5x | 46 |
 BRTBRT Apartments Corp. | $272M | $14.45 | $21.00 | +45.3% | Buy | — | 5 |
Upside Potential Comparison
AIVBRTMAAUDRCPTEQRESSAVBSee IRT's True Return
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Start ComparisonIRT — Frequently Asked Questions
Quick answers to the most common questions about buying IRT stock.
What is the IRT stock price target for 2026?
The consensus Wall Street price target for IRT is $20.08, representing 21.7% upside from the current price of $16.5. With 27 analysts covering the stock, this strong upside suggests significant value not yet reflected in today's share price.
Is IRT a buy, sell, or hold?
IRT has a consensus rating of "Buy" based on 27 Wall Street analysts. The rating breakdown is predominantly bullish, with 19 Buy/Strong Buy ratings. The consensus 12-month price target of $20.08 implies 21.7% upside from current levels.
Is IRT stock overvalued or undervalued?
At a forward P/E of 100.6711x, IRT trades at a premium valuation. The consensus price target of $20.08 (21.7% upside) suggests analysts still see growth justifying the multiple.
How high can IRT stock go?
The most bullish Wall Street analyst has a price target of $22 for IRT, while the most conservative target is $18. The consensus of $20.08 represents the median expectation. Our quantitative valuation model projects a bull case target of $72 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
How many analysts cover IRT stock?
IRT is heavily covered by Wall Street, with 27 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 19 have Buy ratings, 8 recommend Hold, and 0 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
What is the IRT stock forecast?
The 12-month IRT stock forecast based on 27 Wall Street analysts shows a consensus price target of $20.08, with estimates ranging from $18 (bear case) to $22 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $14, with bear/bull scenarios of $14/$72.
What is IRT's fair value based on fundamentals?
Our quantitative valuation model calculates IRT's fair value at $14 (base case), with a bear case of $14 and bull case of $72. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 42/100.
What is IRT's forward P/E ratio?
IRT trades at a forward P/E ratio of 100.7x based on next-twelve-months earnings estimates compared to a trailing P/E of 68.8x. The higher forward P/E suggests near-term earnings pressure. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Should I buy IRT stock?
Wall Street analysts are very optimistic on IRT, with a "Buy" consensus rating and $20.08 price target (21.7% upside). 19 of 27 analysts rate it Buy or Strong Buy. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
Why do IRT price targets vary so much?
IRT analyst price targets range from $18 to $22, a 20% tight range reflecting strong analyst consensus. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $20.08 consensus represents the middle ground. Our model's $14-$72 range provides an independent fundamental perspective.