Apartment REITs are one of the most popular REIT sectors for investors who seek stable rent checks that are generally recession-resistant, all while being able to avoid the hassle of the three Ts (tenants, toilets, and trash). Also, for most households, the rental or mortgage payment holds top priority compared to other expense items. In other words, households can generally forgo some discretionary spend such as taking vacations and dining out, but cannot forgo the three necessities of food, water and shelter. In this article, I intent to evaluate whether Apartment REIT Independence Realty Trust