Independence Realty Trust
IRT · Multi-Family Residential REITs
$14.96
1.4%UDR
UDR · Multi-Family Residential REITs
$35.84
0.9%The short version
- UDR is the larger business, with $1.7B of revenue in fiscal 2025 against $658M for Independence Realty Trust, about 2.6 times as much.
- UDR earned a higher return on the capital invested in it (6.0%, against 2.3%).
- Investors pay more for each dollar of Independence Realty Trust’s earnings: a P/E of 83.1x against 24.4x for UDR.
| Latest fiscal year | IRT · FY25 | UDR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.5B | $11.8B |
| Revenue | $658M | $1.7B |
| Free cash flow | — | — |
| Net income | $56.6M | $378M |
| Growth | ||
| Revenue growth | 2.8% | 2.4% |
| 5-year growth | 25.4% | 6.7% |
| Share count change | 4.1% | 0.3% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | 32.3% |
| Net margin | 8.6% | 22.1% |
| FCF margin | — | — |
| Return on capital | 2.3% | 6.0% |
| Return on equity | 1.6% | 11.2% |
| Balance sheet | ||
| Net debt | $2.3B | $5.8B |
| Net debt / EBITDA | 6.0x | 4.7x |
| Dividends and buybacks | $184M | $686M |
| Valuation & quality | ||
| P/E | 83.1x | 24.4x |
| Piotroski F-score | — | — |
FY16
IRT $153M
UDR $960M
FY17
IRT $161M
UDR $996M
FY18
IRT $191M
UDR $1.0B
FY19
IRT $203M
UDR $1.2B
FY20
IRT $212M
UDR $1.2B
FY21
IRT $250M
UDR $1.3B
FY22
IRT $629M
UDR $1.5B
FY23
IRT $661M
UDR $1.6B
FY24
IRT $640M
UDR $1.7B
FY25
IRT $658M
UDR $1.7B
IRT
UDR
FY16
IRT 25.9%
UDR 41.8%
FY17
IRT 28.2%
UDR 22.9%
FY18
IRT 27.1%
UDR 33.9%
FY19
IRT —
UDR 19.2%
FY20
IRT —
UDR 20.1%
FY21
IRT —
UDR 20.8%
FY22
IRT —
UDR 16.5%
FY23
IRT —
UDR 39.0%
FY24
IRT —
UDR 17.0%
FY25
IRT —
UDR 32.3%
IRT
UDR
FY16
IRT −$18.2M
UDR —
FY17
IRT $40.0M
UDR —
FY18
IRT $67.9M
UDR —
FY19
IRT $74.8M
UDR —
FY20
IRT $74.9M
UDR —
FY21
IRT $52.1M
UDR —
FY22
IRT —
UDR —
FY23
IRT —
UDR —
FY24
IRT —
UDR —
FY25
IRT —
UDR —
IRT
UDR
FY16
IRT 2.4%
UDR 6.0%
FY17
IRT 3.4%
UDR 3.5%
FY18
IRT 3.4%
UDR 5.5%
FY19
IRT 5.3%
UDR 3.0%
FY20
IRT 3.2%
UDR 2.9%
FY21
IRT 2.0%
UDR 3.1%
FY22
IRT 3.2%
UDR 2.7%
FY23
IRT 0.9%
UDR 6.5%
FY24
IRT 1.9%
UDR 3.0%
FY25
IRT 2.3%
UDR 6.0%
IRT
UDR
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.