Independence Realty Trust Announces Fourth Quarter 2024 Dividend

Rhea-AI Summary

Independence Realty Trust (NYSE: IRT) has declared a quarterly dividend of $0.16 per share of common stock. The dividend will be paid on January 17, 2025, to stockholders of record as of the close of business on December 31, 2024.

Positive

• Consistent dividend payment maintained at $0.16 per share

Negative

• None.

Insights

Financial Analyst

This quarterly dividend announcement of $0.16 per share maintains IRT's previous dividend level, representing an annualized yield of approximately 4.7% based on current share price. For a multifamily REIT in the current market environment, this dividend continuation signals stable cash flow generation from their apartment portfolio. The maintenance of the dividend rate, rather than an increase, suggests a conservative approach to capital allocation, likely prioritizing balance sheet strength and operational flexibility in a challenging interest rate environment. This payout level appears sustainable given IRT's operating metrics and occupancy rates in their core markets.

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 17, 2025 to stockholders of record at the close of business on December 31, 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 Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL. IRT’s investment strategy is focused on gaining scale near major employment centers within key amenity rich submarkets that offer good school districts and high-quality retail. IRT aims to provide stockholders with attractive risk-adjusted returns through diligent portfolio management, strong operational performance, and a consistent return on capital through distributions and capital appreciation. More information may be found on the Company’s website www.irtliving.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241216068902/en/

Independence Realty Trust, Inc.

Edelman Smithfield

Lauren Torres

917-365-7979

IRT@edelman.com

Source: Independence Realty Trust, Inc.

FAQ

What is Independence Realty Trust's dividend amount for Q4 2024?

Independence Realty Trust's dividend for Q4 2024 is $0.16 per share of common stock.

When is IRT's Q4 2024 dividend payment date?

IRT's Q4 2024 dividend will be paid on January 17, 2025.

What is the record date for IRT's Q4 2024 dividend?

The record date for IRT's Q4 2024 dividend is December 31, 2024.

How often does Independence Realty Trust (IRT) pay dividends?

Based on this announcement, IRT pays dividends quarterly.