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Independence Realty Trust (NYSE:IRT) is a real estate investment trust that owns and operates multifamily communities across non-gateway U.S. markets.

It is set to report its Q1 2025 earnings on April 23. Wall Street analysts expect the company to post EPS of $0.29, up from $0.27 in the prior-year period. According to Benzinga Pro, quarterly revenue is expected to reach $165.07 million, up from $160.33 million a year earlier.

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If You Bought Independence Realty Stock 10 Years Ago

The company's stock traded at approximately $9.33 per share 10 years ago. If you had invested $10,000, you could have bought roughly 1,072 shares. Currently, shares trade at $21.23, meaning your investment's value could have grown to $22,755 from stock price appreciation alone. However, Independence Realty Trust also paid dividends during these 10 years. 

Independence Realty's dividend yield is currently 3.01%. Over the last 10 years, it has paid about $5.58 in dividends per share, which means you could have made $5,980 from dividends alone. 

Summing up $22,755 and $5,980, we end up with the final value of your investment, which is $28,735. This is how much you could have made if you had invested $10,000 in Independence Realty stock 10 years ago. This means a total return of 187.35%. However, this figure is less than the S&P 500 total return for the same period, which was 226.70%.

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What Could The Next 10 Years Bring? 

Independence Realty Trust has a consensus rating of "Buy" and a price target of $21.43 based on the ratings of 14 analysts. The price target implies less than 1% potential upside from the current stock price.

On Feb. 12, the company announced its Q4 2024 earnings, posting core FFO of $0.32 per share, in line with expectations, while revenues of $160.62 million came in below the consensus estimate of $163.40 million, as reported by Benzinga.

"2024 was another strong year for IRT as we achieved the high-end of our guidance, with CFFO per share of $1.16 and NOI growth of 3.2%," said CEO Scott Schaeffer. "This performance is a reflection of our continued focus on balancing occupancy and rental rate growth, underpinned by accomplishing strategic milestones. Looking ahead to 2025, we believe we are well-positioned to grow CFFO as we capitalize on rebounding market fundamentals to create value for shareholders."

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The company provided its full-year 2025 guidance, expecting earnings per diluted share in the range of $0.19 to $0.22 and CFFO per share of $1.16 to $1.19.

Check out this article by Benzinga for six analysts' insights on Independence Realty Trust.

Given less than 1% expected upside potential, growth-focused investors may not find Independence Realty stock attractive. Conversely, the stock can be a good option for income-focused investors, who can benefit from the company's solid dividend yield of 3.01%.

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This article If You Invested $10K In Independence Realty Stock 10 Years Ago, How Much Would You Have Now? originally appeared on Benzinga.com