Independence Realty Trust Inc. - IRT STOCK NEWS

Independence Realty Trust (NYSE: IRT) has announced its participation in Nareit's REITworld 2024 Annual Conference in Las Vegas on November 19 and 20. The company's senior leadership team, including Chairman and CEO Scott Schaeffer, CFO and President Jim Sebra, CAO Jason Delozier, and SVP of Operations Janice Richards, will host meetings with investors and analysts during the conference. IRT has made its November Investor Presentation available on their website at www.irtliving.com under the Investor Relations section's Presentations area.

Independence Realty Trust (NYSE: IRT) reported Q3 2024 financial results and received a 'BBB' investment grade rating from S&P. Net income reached $12.4M ($0.05 per share), up from $3.9M ($0.02 per share) in Q3 2023. Same-store NOI grew 2.2%, while Core FFO was $66.8M ($0.29 per share), down from $69.0M ($0.30 per share) due to asset sales. The company completed 578 unit renovations with a 14.9% ROI and entered forward equity sale transactions for 13M shares, expecting to raise $246M for acquisitions. Portfolio occupancy increased 90bps to 95.4% with a 1.2% rise in rental rates.

Independence Realty Trust (NYSE: IRT) reported minimal impact on its communities in Tampa and Orlando, Florida from Hurricane Milton. The company's CEO, Scott Schaeffer, expressed gratitude towards the on-site teams for their efforts in preparing the communities for the storm and ensuring the safety of residents. Schaeffer also extended thoughts to all those affected by the hurricane.

Independence Realty Trust (NYSE: IRT) has announced the dates for its third quarter 2024 earnings release and conference call. The company plans to release its financial results after market close on Wednesday, October 30, 2024. A conference call to discuss the results is scheduled for Thursday, October 31, 2024, at 9:00 a.m. Eastern Time.

Investors can access the live conference call through the investor relations section of IRT's website or by dialing 1.888.440.3307 with access code 1963990. A replay of the call will be available on the company's website and by phone until Thursday, November 7, 2024, at 11:59 p.m. Eastern Time, using the number 1.800.770.2030 and the same access code.

Independence Realty Trust (NYSE: IRT) reported minimal impact from Hurricane Helene on its apartment communities. The company's CEO, Scott Schaeffer, confirmed that all residents and employees in affected areas are safe, and properties have not sustained significant damage. IRT prioritized safety and praised on-site teams for their preparation and response efforts. The company will continue to assess any residual impact and provide updates if there are changes to the status of their communities.

Independence Realty Trust (NYSE: IRT) has declared a quarterly dividend of $0.16 per share for the third quarter of 2024. The dividend will be payable on October 18, 2024 to stockholders of record as of the close of business on September 30, 2024. This announcement demonstrates IRT's commitment to providing regular returns to its shareholders, maintaining its dividend policy in the real estate investment trust (REIT) sector.

Independence Realty Trust (NYSE: IRT) has closed its public offering of 11,500,000 shares of common stock at $19.75 per share, including the full exercise of the underwriters' option for 1,500,000 additional shares. The company entered into forward sale agreements with Citigroup. IRT will not initially receive proceeds from the sale but expects to contribute future cash proceeds to its operating partnership, IROP. The funds are intended for potential acquisitions, investment opportunities, or general corporate purposes, including reducing outstanding borrowings under IRT's unsecured credit facility.

Independence Realty Trust (NYSE: IRT) has priced a public offering of 10,000,000 shares of common stock at $19.75 per share. The offering, expected to close around September 5, 2024, includes a 30-day option for underwriters to purchase up to 1,500,000 additional shares. IRT has entered into a forward sale agreement with Citigroup for the shares. The company plans to use the proceeds to fund potential acquisitions, investment opportunities, or reduce outstanding borrowings on its unsecured credit facility. The offering is made through an effective shelf registration statement filed with the SEC.

Independence Realty Trust (NYSE: IRT), a multifamily apartment REIT, has announced a public offering of 10,000,000 shares of common stock. The company may grant underwriters an option to purchase up to 1,500,000 additional shares. IRT plans to enter into forward sale agreements with Citigroup or its affiliate. The company will not initially receive proceeds from the sale but expects to settle the agreements for cash in the future. IRT intends to use the net proceeds to fund potential acquisitions, investment opportunities, or reduce outstanding borrowings on its unsecured credit facility. The offering is being made through an effective shelf registration statement filed with the SEC.