Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price14.51 USD
Fair value9.90
Ethical score70.0/100
Our investment reviews on this name
2026-10-02Read Markdown14.66-1.0% to today ✓
2026-09-02Read Distribution16.61-12.6% to today ✓
2026-08-02Read Markdown16.62-12.7% to today ✓
2026-07-02Read Accumulation16.87-14.0% to today
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Independence Realty Trust, Inc. holds its Markdown at $14.51. Consolidating, no directional conviction, held for 286 days.
As held on the ledger · 2026-10-02
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 286 days
Price at the screen
$14.51
Valuation
80.61 trailing · 181.38 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.94
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
37.89%
Below 33%
Interest-bearing debt is 37.9% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
0.39%
Below 49%
Money owed to the company is 0.4% of assets, under the 49% limit.
Pass
Revenue purity
0.00%
Below 5%
Only 0.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Independence Realty Trust,'s business is in a permissible area, but its interest-bearing debt is about 38% of the company, just over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
Fair value range in USD, drawn from the 2026-10-02 screen. The gold marker is the market price at the same screen. The price runs 31.7% above the base estimate.
Third-party analyst targets: 13 covering, consensus Buy. The average target sits +31% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-02 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Secondary US Apartments Priced Far Beyond Value
Picture a landlord in a quiet Midwest town raising rents to cover costs while new tenants stay scarce. Independence Realty Trust owns and runs those multifamily blocks, yet the shares trade at 16.62 against a fair value of just 10.24. Forward earnings sit at 107 times, revenue edges up only 2 percent, and return on equity scrapes 1 percent. The market's buy rating and 19 target do not change the simple arithmetic that current pricing leaves no margin.
This leaves no opportunity. A 7 percent profit margin and unknown competitive edge offer little buffer when growth stays this thin. The ethical screen clears, yet the valuation itself blocks any case for ownership.
High multiples on low returns often signal the opposite of safety. Currency or rate shifts in residential real estate can widen that gap quickly. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
IRT trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-02Markdown · changed$14.66-11.7%Entry 6
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 11.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 4%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (14 analysts) rates it buy, with a mean price target of $19.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 4%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (14 analysts) rates it buy, with a mean price target of $19.
2026-08-02Markdown · changed$16.62-1.5%Entry 4
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 1.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 4%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (14 analysts) rates it buy, with a mean price target of $19.
2026-07-18Accumulation$16.87+0.0%Entry 3
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 4%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (14 analysts) rates it buy, with a mean price target of $19.
2026-07-03Accumulation$16.87+0.0%Entry 2
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Accumulation$16.87Entry 1
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
