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

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Earnings data Q4 2021

Earnings data Q1 2022

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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. (NYSE: IRT) (“IRT”) today announced that it expects to release its second quarter 2023 financial results after market close on Wednesday, July 26, 2023, and will hold its quarterly results conference call on Thursday, July 27, 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 r.

Independence Realty Trust Announces Second Quarter 2023 Earnings Release and Conference Call Dates

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The Chilton REIT Team attended the REITWeek annual conference in New York City, participating in 39 meetings and gaining insights into potential new ideas and the diverse landscape of REIT properties. Amid rising interest rates and a sluggish debt/transaction market, the importance of robust balance sheets was a central theme. Participants noted sustained demand despite potential economic downturn and escalating construction and financing costs.

Equity REITs: Takeaways From NAREIT REITWeek 2023

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Apartment REITs have been the fourth-best performing REIT sector this year, outperforming the S&P 400 and 600. Despite outstanding operating performance, apartment REITs have taken a beating on share prices over the past 12 months, creating an abundance of bargains. Although multifamily housing starts and permits have increased sharply, the supply-demand picture remains favorable for apartment REITs.

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Left for dead in late 2022 on expectations of a "hard landing" across rental markets, Apartment REITs are the third-best-performing property sector this year, lifted by surprisingly buoyant property-level fundamentals. Recent industry data has shown a reacceleration in rental rate and occupancy trends since bottoming in January, with rent growth appearing to stabilize in its typical "inflation-plus" range between 4-5%. This "inflation-plus" level of rent growth was the norm in the pre-pandemic era as housing demand outpaced new home development. Housing is back to being the primary driver of inflation.

Apartment REITs: Rents Are Rising, Again

Independence Realty Trust is a multi-family residential REIT with a strong balance sheet and robust liquidity. IRT recently increased its dividend, which is well-covered and has room for further growth. I rate the company as a "Hold" due to valuation concerns, though the company is still a good one.

Independence Realty Trust: A Solid Residential REIT Despite Valuation Concerns

The Zacks Equity REIT - Residential industry constituents are poised to benefit from the healthy demand amid the high cost of homeownership and a focus on technology, aiding Independence Realty Trust (IRT), Elme Communities (ELME) and BRT Apartments Corp. (BRT).

3 Residential REITs Set to Gain From Upbeat Industry Fundamentals

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) today announced that Scott Schaeffer, Chairman and CEO, Jim Sebra, CFO, Mike Daley, EVP of Operations and People, and Janice Richards, SVP of Operations will be meeting with investors and analysts at Nareit's REITweek 2023 Investor Conference on June 6-7 at the New York Hilton Midtown in New York City. There will also be a management presentation on Wednesday, June 7th at 2:45pm ET. The link to the webcast can be.

Independence Realty Trust to Participate in Nareit's REITweek 2023 Investor Conference

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The homebuilding market is crashing even as we are dealing with a massive housing shortage. This should create a nice catalyst for homebuilding companies down the road, but perhaps the more interesting catalyst involves REITs that lease properties out.

Pain In The Housing Market Is Setting The Stage For Significant Value Creation

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) announced today that IRT's board of directors approved a quarterly dividend of $0.16 per share of IRT common stock, which represents a 14% increase in the dividend over the prior quarterly rate of $0.14 per share. The second quarter dividend is payable on July 21, 2023 to stockholders of record at the close of business on June 30, 2023. IRT also announced that it is scheduled to host meetings with investors at BM.

Independence Realty Trust Increases Quarterly Dividend By 14%

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REITs can be very rewarding investments. But many investors fail to fully appreciate their returns.

Important Message For REIT Investors

A macro look at the population shows growing Sunbelt popularity. Apartment dwellers are a big market for real estate investors there.

Renters Are Heading for Cheaper Metros. What's the Takeaway for REIT Investors?

Independence Realty Trust, Inc. (IRT) Q1 2023 Earnings Call Transcript.

Independence Realty Trust, Inc. (IRT) Q1 2023 Earnings Call Transcript

Independence Realty Trust (IRT) came out with quarterly funds from operations (FFO) of $0.27 per share, missing the Zacks Consensus Estimate of $0.28 per share. This compares to FFO of $0.25 per share a year ago.

Independence Realty Trust (IRT) Lags Q1 FFO and Revenue Estimates

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (“IRT”) (NYSE: IRT), a multifamily apartment REIT, today announced its first quarter 2023 financial results. First Quarter Highlights Net income available to common shares of $8.6 million for the quarter ended March 31, 2023 compared to $74.6 million for the quarter ended March 31, 2022. Earnings per diluted share of $0.04 for the quarter ended March 31, 2023 compared to $0.34 for the quarter ended March 31, 2022. Same-store portfol.

Independence Realty Trust Announces First Quarter 2023 Financial Results

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) today announced that it expects to release its first quarter 2023 financial results after market close on Wednesday, April 26, 2023, and will hold its quarterly results conference call on Thursday, April 27, 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 1.833.470.1428, access code 034663.

Independence Realty Trust Announces First Quarter 2023 Earnings Release and Conference Call Dates

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Independence Realty Trust: An Affordable Multifamily REIT

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The recent collapse of Silicon Valley Bank and the launch of the Federal Reserve's Bank Term Funding Program (“BTFP”) have sent markets on a roller-coaster ride. Recent housing data continues to show signs of home prices moving lower, and sequential asking rents in several major apartment markets has been moving lower as well.

Residential REITs: Stability In An Unstable World

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) announced today that Farrell Ender, President of IRT, will be leaving the company effective May 1, 2023, to pursue other opportunities. “We would like to thank Farrell for his dedication and commitment to IRT, while leading our operations through transformational growth,” said Scott Schaeffer, IRT's Chairman and CEO.

Independence Realty Trust Announces Leadership Update and First Quarter 2023 Dividend

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) today announced that Scott Schaeffer, Chairman and Chief Executive Officer, and Jim Sebra, Chief Financial Officer will be participating next week in Citi's 2023 Global Property CEO Conference held in Hollywood, FL. The Company published its updated Investor Presentation in the investor relations section of the IRT website.

Independence Realty Trust to Present at Citi's 2023 Global Property CEO Conference

Independence Realty Trust, Inc. (NYSE:IRT ) Q4 2022 Earnings Conference Call February 16, 2023 9:00 AM ET Company Participants Lauren Torres - IR, Edelman Smithfield Scott Schaeffer - Chairman and CEO Mike Daley - EVP of Operations and People Farrell Ender - President Jim Sebra - CFO Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Brad Heffern - RBC Capital Markets John Kim - BMO Capital Markets Nick Joseph - Citi Anthony Powell - Barclays Linda Tsai - Jefferies Operator Thank you for standing by. And welcome to the Independence Realty Trust Inc. Q4 Earnings Conference Call.

Independence Realty Trust, Inc. (IRT) Q4 2022 Earnings Call Transcript

Independence Realty Trust (IRT) delivered FFO and revenue surprises of 0% and 0.52%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Independence Realty Trust (IRT) Meets Q4 FFO Estimates

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (“IRT”) (NYSE: IRT), a multifamily apartment REIT, today announced its fourth quarter and full year 2022 financial results and introduced its full year 2023 guidance. Fourth Quarter Highlights Net income available to common shares of $33.6 million for the quarter ended December 31, 2022 compared to $28.6 million for the quarter ended December 31, 2021. Earnings per diluted share of $0.

Independence Realty Trust Announces Fourth Quarter and Full Year 2022 Financial Results

PHILADELPHIA--( BUSINESS WIRE )--Independence Realty Trust, Inc. (“IRT”) (NYSE: IRT) today announced the tax reporting information for the 2022 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:

Independence Realty Trust Announces Tax Treatment of Dividends in 2022

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News for Independence Realty Trust Stock (IRT)