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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PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (“IRT”) (NYSE: IRT) today announced the tax status of 2023 dividend distributions on its common stock. The final income allocations as they will be reported on Form 1099-DIV are set forth in the following table: Common Shares (CUSIP #45378A106) Record Date Payment Date Distribution Per Share Ordinary Dividend Total Capital Gain Distr. Unrecap- tured Sec. 1250 Gain Section 897 Capital Gain Return of Capital Section 199A 3/31/23 4/21/.

Independence Realty Trust Announces Tax Treatment of Dividends in 2023

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) today announced that it expects to release its fourth quarter and full year 2023 financial results after market close on Wednesday, February 14, 2024, and will hold its quarterly results conference call on Thursday, February 15, 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 1.888.660.9916, ac.

Independence Realty Trust Announces Fourth Quarter and Full Year 2023 Earnings Release and Conference Call Dates

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Apartment REITs were among the weakest-performing property sectors for a second-straight year in 2023 - lagging even the battered office sector - despite delivering another year of mid-single-digit earnings growth. Following two years of record-setting rent growth, residential rents decelerated in 2023 alongside a broader cooling of inflationary pressures, with multifamily rents seeing a particularly sharp cooldown amid supply headwinds. The wave of pandemic-era development - started at a time when rents were rising double-digits - resulted in a record year of new deliveries in 2023 with similarly elevated supply levels.

Apartment REITs: A Renter's Market

Independence Realty's (IRT) recent property sales underscore the company's dedication to its strategic objectives, including portfolio optimization and debt reduction.

Independence Realty (IRT) Advances on Strategy With Asset Sales

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) announced today the sale of four properties in four markets, as part of the Company's Portfolio Optimization and Deleveraging Strategy. The total gross sales price of the four properties was $200.7 million, with each property sale closing in December 2023. As a result of these sales, IRT repaid $196.8 million of debt, comprised of $112.3 million of property level debt associated with the sold properties and $84.5.

Independence Realty Trust Completes Sale of Four Properties, Advancing Portfolio Optimization and Deleveraging Strategy

Independence Realty Trust is a REIT focused on multi-family apartment communities in secondary markets. The portfolio is spread across many markets in the attractive Sunbelt region. The REIT has shown strong performance with high occupancy rates and growth in revenue and operating income.

Independence Realty: Steep Discount Overshadows The Yield

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 January 19, 2024 to stockholders of record at the close of business on December 29, 2023. 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 inc.

Independence Realty Trust Announces Fourth Quarter 2023 Dividend

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Buried Treasures: 10 Dramatically Undervalued REITs Yielding Over 5%

Independence Realty Trust, Inc. (NYSE:IRT ) Q3 2023 Earnings Conference Call October 31, 2023 9:00 AM ET Company Participants Lauren Torres - Investor Relations Scott Schaeffer - Chairman, President and Chief Executive Officer Mike Daley - Executive Vice President of Operations and People Jim Sebra - Chief Financial Officer Janice Richards - Senior Vice President of Operations Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets John Kim - BMO Capital Markets Bradley Heffern - RBC Capital Markets Anthony Powell - Barclays Eric Wolfe - Citigroup Wes Golladay - Baird Merrill Ross - Compass Point Linda Tsai - Jefferies Operator Good morning. My name is Audra, and I will be your conference operator today.

Independence Realty Trust, Inc. (IRT) Q3 2023 Earnings Call Transcript

Independence Realty Trust (IRT) came out with quarterly funds from operations (FFO) of $0.30 per share, beating the Zacks Consensus Estimate of $0.29 per share. This compares to FFO of $0.28 per share a year ago.

Independence Realty Trust (IRT) Tops Q3 FFO and Revenue Estimates

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (“IRT”) (NYSE: IRT), a multifamily apartment REIT, today announced its third quarter 2023 financial results, initiated its portfolio optimization strategy and updated its full year 2023 guidance. Third Quarter Highlights Net income available to common shares of $3.9 million for the quarter ended September 30, 2023 compared to $16.2 million for the quarter ended September 30, 2022. Earnings per diluted share of $0.02 for the quarter.

Independence Realty Trust Announces Third Quarter 2023 Financial Results

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REITs have been experiencing a prolonged period of decline, with some portfolios down 64% from their early 2022 highs. The variations in price movements among different REITs are worth probing to find opportunities. The number of candidates for high upside from here has roughly doubled recently, but the number of quality opportunities has increased much less.

New Opportunities Amidst Crashing REITs

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) today announced that it expects to release its third quarter 2023 financial results after market close on Monday, October 30, 2023, and will hold its quarterly results conference call on Tuesday, October 31, 2023 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 Third Quarter 2023 Earnings Release and Conference Call Dates

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Investors interested in stocks from the REIT and Equity Trust - Residential sector have probably already heard of Office Properties Income Trust (OPI) and Independence Realty Trust (IRT). But which of these two stocks offers value investors a better bang for their buck right now?

OPI or IRT: Which Is the Better Value Stock Right Now?

Independence Realty Trust has benefited from the migration of people from expensive coastal cities to the Sunbelt and Midwest during the pandemic. IRT's financial management has improved, with lower leverage ratios and a rebounding dividend following the 2020 dividend cut. The Midwest market is expected to hold up well, positioning IRT's portfolio favorably compared to oversupplied markets in the Sunbelt.

Independence Realty Trust: Well-Positioned Due To Midwest Exposure (Rating Upgrade)

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Commercial real estate market is just beginning to experience the pain of the correction, according to billionaire investor Jeff Greene. Office buildings are expected to be the hardest hit, with declining leasing volume and potential defaults on loans. Retail, industrial, and residential real estate are expected to fare better, with little risk of oversupply and high occupancy rates.

Billionaire Commercial Real Estate Investor Says 'The Worst Is Yet To Come'

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 20, 2023 to stockholders of record at the close of business on September 29, 2023. 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 2023 Dividend

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) today announced that Jim Sebra, IRT's Chief Financial Officer and Mike Daley, IRT's Executive Vice President, Operations and People are scheduled to host meetings with investors at the Bank of America Securities 2023 Global Real Estate Conference in New York City on September 12th. The company has posted its September Investor Presentation on its website at www.irtliving.com in the Investor Relations section unde.

Independence Realty Trust Scheduled to Host Investor Meetings at Bank of America Securities 2023 Global Real Estate Conference on September 12

Apartment REITs have outperformed the Equity REIT Index but lag behind the Nasdaq 100 and S&P 500. Rent growth has stabilized slightly above inflation, defying expectations of negative growth. Apartment supply pressures are expected to ease by 2024 due to challenging financing for new development.

Independence Realty Trust: What's Not To Like?

Real estate is one of the backbones of the American economy. As the latter begins to pivot into a cycle of uncertainty amid FED rate hikes and inflationary concerns, the housing market will surely receive its fair share of the money flow.

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Independence Realty Trust, Inc. (NYSE:IRT ) Q2 2023 Earnings Conference Call July 27, 2023 9:00 AM ET Company Participants Lauren Torres - IR Scott Schaeffer - President, CEO & Chairman Mike Daley - EVP, Operations & People James Sebra - CFO & Treasurer Conference Call Participants Eric Wolfe - Citi Bradley Heffern - RBC Capital Markets Austin Wurschmidt - KeyBanc Capital Markets John Kim - BMO Capital Markets Anthony Powell - Barclays Bank Operator Thank you for standing by. My name is Briana, and I will be your conference operator today.

Independence Realty Trust, Inc. (IRT) Q2 2023 Earnings Call Transcript

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