Should I buy Irish Residential Properties REIT stock in 2025?

What is the Irish Residential Properties REIT?

How much is the Irish Residential Properties REIT stock?

The price of Irish Residential Properties REIT stock is rising this week. Currently trading at €1.08, the stock has gained 6.09% in the last 24 hours and is up 2.86% over the past week. Market capitalisation stands at €566.29 million, with an average three-month trading volume of 1.26 million shares. The P/E ratio is not applicable due to recent net losses, while the dividend yield is an attractive 3.78%. With a low beta of 0.65, investors can expect below-average volatility compared to the wider market, making this stock particularly appealing for those seeking stability in the Irish property sector.

Our full analysis on the Irish Residential Properties REIT stock

After analysing the latest financial results and cross-referencing the stock’s three-year performance against sector benchmarks, Irish Residential Properties REIT (I-RES) emerges as a compelling focal point for investors seeking defensive growth in Ireland’s dynamic real estate sector. Our proprietary methodology—synthesising financial metrics, technical analysis, and market intelligence—discerns robust underlying fundamentals and a suite of positive structural catalysts. So, why might Irish Residential Properties REIT stock once again become a strategic entry point into the Irish property sector in 2025?

Recent Performance and Market Context

Over the past year, I-RES has proven its capacity for recovery and resilience within an inflationary and rate-volatile market. The stock price stands at €1.08 as of 30 May 2025, reflecting a weekly gain of +2.86%, a six-month advance of +18.68%, and an impressive twelve-month growth of +11.57%. These numbers distinctly outpace the regional REIT average, solidifying the stock’s position as a sector outperformer in recent quarters.

Several notable events have buoyed recent sentiment:

• February 2025: Preliminary 2024 results disclosed a return to adjusted profit growth, re-instilling confidence.
• March 2025: The Board declared a dividend of 2.20 cent per share, underscoring management’s commitment to shareholder returns.
• May 2025: The AGM saw unanimous adoption of board resolutions and, critically, the announcement of a share buyback programme targeting up to 15% of issued share capital, a move that often catalyses renewed investor interest and bolsters price dynamics.

Macro conditions further reinforce the context: The Irish residential rental market remains structurally tight, with undersupply and strong urbanisation trends supporting landlord pricing power. Ireland’s continued employment growth and inward migration sustain rental demand, while central Dublin and Cork—the focus of I-RES’s portfolio—are seeing occupancy rates approach historical peaks.

Technical Analysis

I-RES currently exhibits a technical profile that is difficult to ignore for investors seeking timely entries:

• RSI (14 days) is at 56.01—close to neutral, but tilting towards the upper half, indicating that there is residual buying appetite before any overbought conditions present.
• MACD (12,26,9) stands at +0.03, just above the trigger, suggesting building bullish momentum after a recent consolidation.
• Moving Averages: The share price is trading above all closely-tracked averages (20, 50, 100, 200 days), with current levels at €1.08 well above the 200-day average at €0.89. Each of these averages has shifted to a ‘buy’ signal, supporting the case for medium-term strength.
• Key Support and Resistance: Strong support is confirmed at €1.06–€1.08, with immediate resistance at €1.10 (the 52-week high), indicating limited downside and clear near-term breakout potential.
• The aggregated technical consensus is “Strong Buy”, with 15 bullish vs. just 2 bearish signals—a rare and compelling alignment across timeframes.

The technical landscape, taken in concert, implies traders and investors are injecting fresh capital in anticipation of further gains.

Fundamental Analysis

Foundations for optimism on I-RES lie squarely in its operating fundamentals:

• Revenue Growth: 2024 revenues reached €85.27 million, with adjusted EPRA earnings up +1.4% to €28.9 million, a testament to robust operational execution despite a challenging property market.
• Profitability: EBITDA is a very solid €52.67 million; although the IFRS net result is slightly negative (-€6.68 million), this reflects predominantly non-cash items—while adjusted earnings show meaningful, sustainable growth. Adjusted EPRA earnings per share of 5.5 cent further reinforce this.
• Valuation: The stock trades at a price below estimated NAV, offering a rare margin of safety. While the P/E ratio is not calculable due to TTM net losses, the price-to-book and yield metrics remain attractive—especially in the context of a 3.78% dividend yield well above both sovereign bond and domestic deposit averages.
• Structural Strengths: The company controls a dominant portfolio of 3,668 modern units in prime locations (Dublin, Cork), valued at €1.23 billion, with a staggering 99.4% occupancy. This not only reduces cash flow volatility but also reinforces pricing power in a supply-constrained market. The I-RES Living platform leverages digital efficiency, differentiating I-RES from legacy landlords and ensuring higher retention and lower service costs.

Strategic expansion has been methodical and value-focused, with recent acquisitions and developments prioritising yield and ESG compliance—a mark of both quality and prudence.

Volume and Liquidity

Healthy, sustained trading volumes should not be underestimated as markers of market confidence:

• Average Daily Volume: 1.26 million shares over three months—considerably high for a Dublin-listed REIT.
• Float: At 449.95 million shares, the liquid float is deep enough to facilitate institutional and retail positioning, without risking sudden, liquidity-driven swings in valuation.

Crucially, the recent announcement of a buyback programme up to 15% of issued capital not only demonstrates management’s confidence in the underlying value but also creates immediate technical support for the share price by reducing free-float and amplifying demand for remaining shares.

Catalysts and Positive Outlook

Where I-RES truly stands out is its suite of imminent and structural catalysts:

• Operational Leverage: With a near-maximal occupancy rate (99.4%) and strong expected rental renewals, any incremental revenue flows almost directly to the bottom line.
• Dividend Policy: The commitment to a 3.78% yield, underpinned by stable rental income and regulatory obligation for high payout ratios, gives the stock broad appeal in a yield-hungry environment.
• Projected Earnings Growth: Consensus estimates forecast a 47.8% annual growth in EPS, on the back of higher rents, improved margin efficiency, and continued demand for Irish residential units—even with regulatory caps in place.
• Portfolio Modernisation and ESG Integration: I-RES is accelerating digital tenant services and energy efficiency upgrades, giving it a competitive edge both with tenants and ESG-driven capital flows.
• Buyback Programme: The 15% buyback signals a belief in undervaluation and acts as a buffer against downside surprises.
• Favourable Sector Dynamics: Nationally, the Irish private rental market presents strong demand, modest new supply, and a regulatory environment that, while capping rental increases, nonetheless favours high-occupancy, well-financed landlords.

As macro conditions stabilise and interest rates approach a peak, defensive, high-cashflow property assets are set to re-rate upwards—of which I-RES is a leading example.

Investment Strategies

I-RES’s current technical and fundamental profile favours tactical and strategic positioning alike:

• Short-Term: Investors may target positions at current levels (€1.08), anticipating a near-term test of the €1.10 breakout resistance and, upon success, accelerated technical flows towards the €1.27 consensus target.
• Medium-Term: The alignment of bullish technical signals, expected positive trading updates, and the buyback momentum create a window for medium-term appreciation. Investors with a 6–12 month horizon can see I-RES as a way to capture compounding income and capital gains, especially as new rental contracts reset at higher rates.
• Long-Term: For those seeking defensive, inflation-protected exposure, I-RES’s combination of a securely-financed, high-occupancy portfolio, strategic urban focus, and growing dividend yield position it as a core portfolio holding. As demographic and housing demand trends persist, the company’s dominant market share and modern asset base should translate into sustainable asset and earnings growth.

Crucially, the recent return to adjusted earnings growth and management's capital allocation discipline suggest I-RES may be at the cusp of a durable rerating by institutional investors.

Is it the Right Time to Buy Irish Residential Properties REIT?

Synthesising the above, several compelling themes emerge:

• The share price is demonstrating sustained momentum, buttressed by technical “Strong Buy” signals and a sequence of supportive corporate actions (dividend, buyback, AGM resolutions).
• Core fundamentals remain robust: structural leadership in the Irish residential market, best-in-class occupancy (99.4%), and a modern, €1.23 billion portfolio concentrated in high-demand urban centres.
• The dividend yield (3.78%) and consensus target (€1.27, or +17.6% upside) offer a combination rare in defensive income stocks.
• With EPS growth forecast at nearly 48% annually and clear operational visibility, the backdrop for rerating is firmly in place.
• Institutional and retail volume is strong, the float is ample, and management has stepped in with a significant buyback—aligning interests across the shareholder base.
• Macro and sector tailwinds are likely to persist, including continued rental demand, constrained new supply, and likely stabilisation in interest rates.

In summary, the Irish Residential Properties REIT stock seems to represent an excellent opportunity at a pivotal moment for both the Irish property sector and diversified portfolios seeking income and defensiveness with medium-term growth. Amid solid technical foundations, returned profitability on an adjusted basis, and new catalysts on the horizon, the fundamentals justify renewed interest.

For discerning investors, I-RES’s unique blend of yield, defensive growth, and market dominance may well make it a strategic building block for 2025 and beyond—a compelling answer to the demand for resilient, income-generating assets in the current climate.

How to buy Irish Residential Properties REIT stock in Ireland?

Buying Irish Residential Properties REIT (IRES) shares online is straightforward and secure when you choose a regulated broker in Ireland. You can own IRES shares directly with a spot purchase or trade on price movements through contracts for difference (CFDs). Both approaches offer distinct advantages depending on your investment goals, with strong investor protection ensured by regulatory oversight. If you’re unsure which method suits you best, you’ll find a broker comparison tool further down the page to help select the platform that matches your needs.

Cash buying

A cash purchase means you buy Irish Residential Properties REIT (IRES) shares outright on the Euronext Dublin exchange. You become a direct shareholder, benefit from any dividend payments, and have voting rights if eligible. Irish brokers typically charge a small fixed commission per trade, often around €5-€10 for online orders.

Example

Suppose the IRES share price is €1.08. With a €1,000 stake, you can buy approximately 925 shares (€1,000 - €5 commission = €995; €995/€1.08 ≈ 921 shares).
✔️ Gain scenario:
If the share price rises by 10%, your shares are worth €1,100.
Result: +€100 gross gain, i.e. +10% on your investment (before taxes and excluding other possible fees).

Trading via CFD

CFD (Contract for Difference) trading allows you to speculate on the price of IRES shares without physically owning them. With CFDs, you can both go long (profit if the price rises) or short (profit if it falls). Fees include the spread (the broker’s markup on the buy/sell price) and overnight financing charges if you hold positions for more than a day.

Example

You open a CFD position on IRES shares using €1,000 of your own capital and apply 5x leverage. This means your position controls €5,000 worth of IRES shares.
✔️ Gain scenario:
If the price of IRES rises by 8%, your position grows by 8% × 5 = 40%.
Result: +€400 gain on your €1,000 stake (before fees and overnight charges).

Final advice

Before investing, make sure to carefully compare brokers’ commissions, spreads, and account conditions, as these can significantly impact your returns. The right choice—cash share purchase or CFD trading—depends on your individual objectives, risk profile, and investment horizon. You’ll find a broker comparison tool further down the page to help you make the best decision for your investment journey.

Our 7 tips for buying Irish Residential Properties REIT stock

The latest news about Irish Residential Properties REIT

IRES shares rose 6.09% intraday and 2.86% over the last week, continuing a steady upward trend. This robust performance is underpinned by a strong local demand in the Irish residential rental market and reinforced by a 12-month gain of 11.57%, with a six-month rally of 18.68%. The recent surge in trading volumes—averaging 1.26 million shares daily—reflects renewed investor interest after the announcement of key corporate actions and the confirmation of growth across strategic financial metrics. The stock remains listed on Euronext Dublin, affirming its high relevance to Irish market participants.

The company formally launched a share buyback programme representing 15% of its issued capital this week. This substantial buyback, confirmed at the Annual General Meeting at the end of May, signals management’s confidence in the intrinsic value of IRES and is expected to accrete value for existing shareholders. The move aligns with the interests of long-term investors and boosts market sentiment by reducing the free float, potentially increasing earnings per share in the coming quarters. This is viewed positively in local financial circles, offering an additional layer of support for the stock price in the near term.

IRES’ fundamental financial results for 2024 showed a return to growth in adjusted EPRA earnings, up 1.4% year-on-year. Despite a reported net loss, the REIT delivered EPRA earnings of €28.9 million and Adjusted EPRA EPS of 5.5 cents in line with expectations, signaling operational stability and resilience. The company declared a final 2024 dividend of 2.20 cents per share, further underlining its commitment to shareholder returns, which is particularly attractive to Irish income-focused investors. This financial turnaround enhances the REIT’s defensive profile amid lingering macroeconomic uncertainties.

Technical analysis is overwhelmingly bullish, with the stock trading above key moving averages for 20, 50, 100, and 200 days. The RSI sits at a balanced 56.01 and the technical consensus is “Strong Buy” with fifteen bullish signals versus just two bearish ones, offering additional comfort to investors monitoring short-term entry and exit points. The current price of €1.08 is close to the key resistance of €1.10, while consensus analyst price targets suggest a potential upside of 17.6%, reinforcing IRES’s position as a preferred vehicle for exposure to Irish residential real estate.

The company’s strategic focus on the Dublin and Cork rental markets, with a 99.4% portfolio occupancy rate, secures its leadership in Ireland. With 3,668 residential units valued at €1.23 billion and a gross yield of 7%, IRES benefits directly from Ireland’s persistent housing demand and supply constraints—an ongoing structural advantage. The modernized property platform, I-RES Living, and its eligibility for Irish and EU investment vehicles further cement its appeal to both domestic and regional investors, positioning the REIT as a cornerstone entity in the Irish residential REIT landscape.

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.