Is Independence Realty Trust, Inc. overvalued or undervalued?

As of 31 October 2025, the valuation grade for Independence Realty Trust, Inc. has moved from expensive to fair. The company appears to be fairly valued based on its current metrics. Key ratios include a P/E ratio of 138, an EV to EBITDA of 12.27, and a PEG ratio of 0.28, which indicates potential for growth relative to its price.
In comparison to peers, Vornado Realty Trust has a P/E of 9.71, while Essential Properties Realty Trust, Inc. shows a P/E of 25.37. These figures suggest that Independence Realty Trust, Inc. is trading at a premium compared to some peers, despite its fair valuation grade. Additionally, the company's stock has underperformed against the S&P 500 across multiple periods, with a year-to-date return of -19.35% compared to the S&P 500's 16.30%, reinforcing the notion that the stock may not be as attractive as it appears.