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Independence Realty Trust vs Essential Properties Realty Trust: IRT and EPRT compared
Independence Realty Trust is the larger company: $172M of revenue in its latest quarter (Q3 2026) against $169M for Essential Properties Realty Trust (Q3 2026). Essential Properties Realty Trust is growing faster (+16% against +3% a year earlier). Essential Properties Realty Trust is more profitable, with an operating margin of 56.0% against 16.7%.
Where the money goes: IRT and EPRT
Independence Realty Trust (IRT) · Q3 2026
Independence Realty Trust, Q3 2026: revenue $172M (+3% year over year), operating margin 16.7%, net earnings $25.1M, operating cash flow $81.2M. The chart follows the revenue to costs, profit and cash.
Essential Properties Realty Trust (EPRT) · Q3 2026
Essential Properties Realty Trust, Q3 2026: revenue $169M (+16% year over year), operating margin 56.0%, net earnings $60.2M, operating cash flow $118M. The chart follows the revenue to costs, profit and cash.
| Independence Realty Trust (IRT) | Essential Properties Realty Trust (EPRT) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $172M | $169M |
| Revenue growth, Y/Y | +3% | +16% |
| Operating margin | 16.7% | 56.0% |
| Net earnings | $25.1M | $60.2M |
| Net margin | 14.6% | 35.7% |
| Operating cash flow | $81.2M | $118M |
| Free cash flow | $79.6M | — |
| Market value | $3.5B | $5.6B |
| P/E | 57.0× | 20.6× |
| Analysts’ mean target | $18.46 | $33.24 |
Questions
Which is bigger, Independence Realty Trust or Essential Properties Realty Trust?
Independence Realty Trust is the larger company: $172M of revenue in its latest quarter (Q3 2026) against $169M for Essential Properties Realty Trust (Q3 2026).
Is Independence Realty Trust or Essential Properties Realty Trust growing faster?
Essential Properties Realty Trust is growing faster (+16% against +3% a year earlier).
Which is more profitable, Independence Realty Trust or Essential Properties Realty Trust?
Essential Properties Realty Trust is more profitable, with an operating margin of 56.0% against 16.7%.
More: Independence Realty Trust earnings · how Independence Realty Trust makes money · Essential Properties Realty Trust earnings · how Essential Properties Realty Trust makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 3, 2026; 10-Q filed Oct 21, 2026). Fiscal quarters can end on different dates. Not investment advice.