Independence Realty Trust (IRT) is an actively managed multifamily REIT concentrated in the Southeastern and Midwestern United States. Due to its strong and stable growth runway, healthy balance sheet, and relatively cheap valuation, I believe it is the top bargain in the publicly traded multifamily real estate sector today.
Strong And Stable Growth Runway
With over 15,000 apartment units, IRT enjoys considerable economies of scale, facilitating accretive acquisition-fueled growth. This enables it to leverage its fixed costs to minimize incremental expenses for new acquisitions while also using its pricing power to drive down