Independence Realty Trust

Independence Realty Trust, Inc. is a real estate investment trust, which acquires, owns, operates, improves and manages multifamily apartment communities across non-gateway U.S. markets. It aims to provide stockholders risk-adjusted returns through diligent portfolio management, operational performance and consistent return of capital through distributions and capital appreciation. The company was founded on March 26, 2009 and is headquartered in Philadelphia, PA.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Independence Realty Trust (IRT) excels in Q4 2022 earnings call, poised for growth amid market challenges

Independence Realty Trust (IRT) demonstrated robust financial performance and operational efficiency in Q4 2022, positioning the company for continued success.
While facing challenges such as market dynamics and asset dispositions, IRT remains focused on growth opportunities and enhancing shareholder value.
Opportunities in market rent growth, occupancy optimization, and resident retention provide avenues for IRT to further strengthen its position in the real estate sector.

Independence Realty Trust (IRT) excels in Q1, eyes Midwest growth

Independence Realty Trust (IRT) demonstrated robust Q1 performance with strong financial metrics and operational achievements. The company's strategic focus on value-add properties, stable Midwest markets, and competitive pricing strategies position it well for future growth.

Independence Realty Trust (IRT) reports robust Q2 performance and raises 2023 guidance

Independence Realty Trust (IRT) delivered a strong performance in Q2 2023, driven by operational improvements and strategic initiatives.
With a focus on reducing leverage, driving occupancy, and capitalizing on market trends, IRT is well-positioned for sustainable growth.
Despite potential challenges and uncertainties, IRT's proactive approach to portfolio optimization and financial management bodes well for its future prospects.

Independence Realty Trust (IRT) reports improved Q3 performance and strategic asset sales

Independence Realty Trust (IRT) Q3 earnings call highlighted improved operational performance, cost reductions, and strategic asset sales for deleveraging. Despite challenges in certain markets, the company remains focused on optimizing its portfolio and driving efficiency.

Independence Realty Trust (IRT) excels in Q4 amidst market challenges

Independence Realty Trust (IRT) demonstrated resilience and strategic foresight in navigating market challenges while delivering strong financial performance in Q4 2023.
The company's proactive approach to portfolio optimization, technology integration, and value-driven strategies positions it well for continued growth and stability in the real estate sector.
Despite the anticipated headwinds in 2024, IRT's focus on reducing debt, enhancing operational efficiency, and maximizing portfolio performance underscores its commitment to long-term success.

Independence Realty Trust excels in Q1 2024 performance and strategic planning

Independence Realty Trust (IRT) delivered a strong performance in Q1 2024, focusing on operational efficiency, asset management, and sustainability initiatives.
While facing challenges in pricing power and maintaining NOI margin, IRT is well-positioned to capitalize on opportunities in Sunbelt regions and portfolio optimization.
Overall, IRT's strategic actions in Q1 set a positive trajectory for growth, supported by a solid financial foundation and a commitment to sustainable practices.

Independence Realty Trust reports solid Q3 results and eyes growth

IRT's Q3 performance reflects stability and growth potential, supported by strong occupancy and revenue metrics.
While facing challenges like rising operating expenses and leasing declines, the company is poised to capitalize on acquisition opportunities.
Maintaining guidance and making strategic adjustments position IRT well for continued financial strength and value creation.

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Independence Realty Trust, Inc. (IRT) Q3 2024 Earnings Call Transcript

Independence Realty Trust (IRT) came out with quarterly funds from operations (FFO) of $0.29 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.30 per share a year ago.

Independence Realty Trust (IRT) Matches Q3 FFO Estimates

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (“IRT”) (NYSE: IRT), a multifamily apartment REIT, today announced its third quarter 2024 financial results and that it has received a ‘BBB' issuer credit rating and stable outlook from S&P Global Ratings. Third Quarter Highlights Net income available to common shares of $12.4 million for the quarter ended September 30, 2024 compared to $3.9 million for the quarter ended September 30, 2023. Earnings per diluted share of $0.05 fo.

Independence Realty Trust Announces Third Quarter 2024 Financial Results and ‘BBB' Investment Grade Rating from S&P

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Average REIT short interest fell 8 basis points in September to 3.7% of shares outstanding, per S&P Global Market Intelligence data. The hotel sector followed with a 60-basis point drop, while the office sector remained the most-shorted at 5.3% of shares outstanding. Wheeler Real Estate Investment Trust logged the largest increase in short interest, up 16 percentage points to 32.4% of shares outstanding.

U.S. REITs Log Dip In Short Interest In September

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) announced today that its communities in Tampa and Orlando, Florida were minimally impacted by Hurricane Milton. “We extend our heartfelt thoughts to everyone affected by Hurricane Milton,” said Scott Schaeffer, Chairman and CEO of IRT. “We are especially thankful to our on-site teams for their dedication in preparing our communities for this storm and responding quickly to ensure our residents remained safe.” Abo.

Independence Realty Trust Reports Minimal Impact on Communities from Hurricane Milton

The heavy selling pressure might have exhausted for Independence Realty Trust (IRT) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

After Plunging -5.47% in 4 Weeks, Here's Why the Trend Might Reverse for Independence Realty Trust (IRT)

Independence Realty Trust, Inc. has surged by approximately 25% year-to-date, likely driven by lower U.S. interest rates and asset class discounts. Despite boasting solid occupancy rates and rental escalation prospects, the REIT faces headwinds from a potential retracement to supply-demand equilibrium in the residential housing market. Short-term headwinds from the hurricane season and share issuances are probably material. However, the extent of their impact remains debatable.

Independence Realty Trust: Likely Priced In After Its Year-To-Date Rally

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) today announced that it expects to release its third quarter 2024 financial results after market close on Wednesday, October 30, 2024, and will hold its quarterly results conference call on Thursday, October 31, 2024 at 9:00 a.m. Eastern Time. The live conference call can be accessed from the investor relations section of the IRT website at investors.irtliving.com or by dialing 1.888.440.3307, access code 1963990.

Independence Realty Trust Announces Third Quarter 2024 Earnings Release and Conference Call Dates

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) announced today the Company's apartment communities did not incur any significant damage as a result of Hurricane Helene. “We are grateful to report that all of our residents and employees in the areas that were impacted by Hurricane Helene are safe, and that our properties have not sustained any significant damage,” said Scott Schaeffer, Chairman and CEO of IRT. “Our highest priority is the safety of our residen.

Independence Realty Trust Reports Minimal Damage to Communities from Hurricane Helene

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) announced that today IRT's board of directors declared a quarterly dividend of $0.16 per share of IRT common stock, payable on October 18, 2024 to stockholders of record at the close of business on September 30, 2024. About Independence Realty Trust, Inc. Independence Realty Trust, Inc. (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets in.

Independence Realty Trust Announces Third Quarter 2024 Dividend

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Independence Realty Trust (IRT) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

All You Need to Know About Independence Realty Trust (IRT) Rating Upgrade to Buy

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (“IRT”) (NYSE: IRT), a multifamily apartment REIT, today announced the closing of its previously announced underwritten public offering of 11,500,000 shares of common stock at a public offering price of $19.75 per share, including 1,500,000 shares sold pursuant to the exercise in full of the underwriters' option to purchase additional shares of common stock. In connection with the offering, IRT entered into forward sale agreements w.

Independence Realty Trust Announces Closing of Public Offering of 11,500,000 shares of Common Stock, Including Exercise in Full of Underwriters' Option to Purchase Additional Shares

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (“IRT”) (NYSE: IRT), a multifamily apartment REIT, today announced the pricing of its public offering of 10,000,000 shares of common stock at a price of $19.75 per share in connection with the forward sale agreement described below. The Company also granted the underwriters a 30-day option to purchase up to 1,500,000 additional shares. The offering is expected to close on or about September 5, 2024, subject to customary closing cond.

Independence Realty Trust Announces Pricing of Public Offering of 10,000,000 Shares of Common Stock

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (“IRT”) (NYSE: IRT), a multifamily apartment REIT, today announced that it is commencing an underwritten public offering of 10,000,000 shares of common stock, par value $0.01 per share, in connection with the forward sale agreements described below. IRT expects to grant the underwriters a 30-day option to purchase up to 1,500,000 additional shares of common stock. Citigroup, KeyBanc Capital Markets and RBC Capital Markets, LLC are a.

Independence Realty Trust Announces Public Offering of 10,000,000 Shares of Common Stock

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) announced today that Jim Sebra, the Company's Chief Financial Officer has been appointed to President and Chief Financial Officer. Mr. Sebra will retain his current responsibilities for overseeing the finance, accounting, tax, IT and investor relations functions, and will now also oversee the Company's operational functions. “These changes are part of good corporate governance and recognize Jim's contribution to.

Independence Realty Trust Promotes Jim Sebra to President

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) announced today that it has agreed to sell $150 million in aggregate principal amount of unsecured notes (the “Notes”), consisting of $75 million aggregate principal amount of unsecured notes due 2031 and $75 million aggregate principal amount of unsecured notes due 2034, to an institutional investor in a private placement at fixed annual interest rates of 5.32% and 5.53%, respectively. IRT expects that the fundi.

Independence Realty Trust Announces Private Placement of $150 Million of Unsecured Notes

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Equity Residential bought 11 apartments with 3572 units from Blackstone for $964 million, expanding its presence in Dallas, Denver, and Atlanta. Public apartment REITs are trading below asset value, with substantial differences in pricing based on location and quality of properties. Multifamily REITs like BSRTF, NXRT, CSR, and CPT are considered the most compelling investments in the sector, but caution is advised due to potential economic downturn.

Massive Apartment Deals Demonstrate Value Of Apartment REITs

Independence Realty Trust is a multifamily REIT with significant exposure to the Sun Belt region. The REIT has outperformed the Vanguard Real Estate Index Fund ETF by roughly 24% in 2024. Core FFO was flat Y/Y in Q2 2024 but the REIT increased its full-year outlook due to better expense control.

Independence Realty Trust: Robust Operating Performance But Time To Play Offense (Rating Downgrade)

Independence Realty Trust, Inc (NYSE:IRT ) Q2 2024 Results Conference Call August 1, 2024 9:00 AM ET Company Participants Maddy Zimba - Head of Investor Relations Scott Schaeffer - Chief Executive Officer Mike Daley - EVP, Operations and People James Sebra - Chief Financial Officer Janice Richards - SVP, Operations Conference Call Participants Nicholas Joseph - Citi Brad Heffern - RBC Capital Markets Austin Wurschmidt - KeyBanc Capital Markets John Kim - BMO capital markets Omotayo Okusanya - Deutsche Bank Mason Guell - Baird Operator Thank you for standing by. My name is Amy and I will be your conference operator for today.

Independence Realty Trust, Inc (IRT) Q2 2024 Earnings Call Transcript

Independence Realty Trust (IRT) came out with quarterly funds from operations (FFO) of $0.28 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.28 per share a year ago.

Independence Realty Trust (IRT) Q2 FFO Meet Estimates

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (“IRT”) (NYSE: IRT), a multifamily apartment REIT, today announced its second quarter 2024 financial results and raised the midpoint of its full year 2024 same store NOI, EPS, and Core FFO guidance ranges. Second Quarter Highlights Net income available to common shares of $10.4 million for the quarter ended June 30, 2024 compared to $10.7 million for the quarter ended June 30, 2023. Earnings per diluted share of $0.05 for the quarte.

Independence Realty Trust Announces Second Quarter 2024 Financial Results and Increases Midpoint of Full Year 2024 Same Store NOI, EPS, and Core FFO Guidance Ranges

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) today announced that it expects to release its second quarter 2024 financial results after market close on Wednesday, July 31, 2024, and will hold its quarterly results conference call on Thursday, August 1, 2024 at 9:00 a.m. Eastern Time. The live conference call can be accessed from the investor relations section of the IRT website at investors.irtliving.com or by dialing 1.888.440.3307, access code 1963990. A.

Independence Realty Trust Announces Second Quarter 2024 Earnings Release and Conference Call Dates

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PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) announced that today IRT's board of directors declared a quarterly dividend of $0.16 per share of IRT common stock, payable on July 19, 2024 to stockholders of record at the close of business on June 28, 2024. About Independence Realty Trust, Inc. Independence Realty Trust, Inc. (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including.

Independence Realty Trust Announces Second Quarter 2024 Dividend

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