10 Cheap REITs with Huge Upside

7. Independence Realty Trust Inc. (NYSE:IRT)

Independence Realty Trust Inc. (NYSE:IRT) is one of the 10 cheap REITs with huge upside.

On March 6, Barclays decreased the target price for Independence Realty Trust Inc. (NYSE:IRT) from $21 to $18. The firm maintained an Equal Weight rating on the stock, which now offers an adjusted upside potential of almost 14%. The update is based on the firm’s downward revisions across the residential REIT segment.

Back on February 12, Independence Realty Trust Inc. (NYSE:IRT) reported its fourth quarter results. The company shared its outlook for the coming year, pointing to easing supply pressures in the apartment market and steps taken to strengthen its financial position, including securing a new term loan that covers upcoming debt obligations. Commenting on the results and outlook, the company stated:

“Our solid full year 2025 results were in line with expectations. With supply pressure receding, we expect stable occupancy and stronger leasing rates. That combined with our continued focus toward managing expenses will allow us drive growth in same-store results in 2026. Additionally, our new term loan satisfies all debt maturities through the end of 2027 and increases our number of unencumbered assets.”

Independence Realty Trust Inc. (NYSE:IRT) is a self-managed REIT that acquires and manages multifamily apartment communities to generate optimal risk-adjusted returns. They target areas surrounding employment & retail centers, and schools across the expanding non-gateway U.S. market. The company aims to deliver a strong return on capital to investors in the form of dividends and capital gains.