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Independence Realty Trust Inc. - IRT STOCK NEWS

Welcome to our dedicated page for Independence Realty Trust news (Ticker: IRT), a resource for investors and traders seeking the latest updates and insights on Independence Realty Trust stock.

Independence Realty Trust Inc. (IRT) is a prominent real estate investment trust (REIT) headquartered at Cira Centre, 2929 Arch Street, 17th Floor, Philadelphia, PA 19104, United States. Specializing in the acquisition, ownership, operation, improvement, and management of multifamily apartment communities, IRT has a substantial presence in non-gateway U.S. markets. These markets include vibrant cities such as Louisville, Memphis, Atlanta, and Raleigh.

IRT focuses on expanding its portfolio within key submarkets that are rich in amenities. These areas feature excellent school districts, robust retail sectors, and various employment centers, making them attractive locations for residents. The company's strategic approach aims to enhance its scale and efficiency in these sought-after neighborhoods.

Recent achievements for IRT include successful acquisitions and the strategic repositioning of properties to enhance value and tenant satisfaction. In addition to property management, IRT continuously works on improving its existing assets, ensuring they meet modern standards and residents' expectations.

Financially, Independence Realty Trust maintains a solid balance sheet and a diversified portfolio, which helps mitigate risks associated with regional economic fluctuations. The company also boasts partnerships with various stakeholders, further strengthening its market position and operational capabilities.

  • Headquarters: Philadelphia, PA, USA
  • Core Business: Multifamily apartment communities
  • Key Markets: Louisville, Memphis, Atlanta, Raleigh
  • Focus: Amenity-rich submarkets
News

Independence Realty Trust Announces First Quarter 2024 Dividend

Rhea-AI Summary
Independence Realty Trust, Inc. (IRT) declares a quarterly dividend of $0.16 per share of common stock, payable on April 19, 2024, to stockholders of record on March 29, 2024.
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Independence Realty Trust Receives Investment Grade Credit Rating from Fitch

Rhea-AI Summary
Independence Realty Trust, Inc. (IRT) received an investment grade rating of 'BBB' from Fitch Ratings, a significant milestone for the company. The rating reflects IRT's solid balance sheet, stable property performance, and successful execution of its Portfolio Optimization and Deleveraging Strategy. This achievement will enhance IRT's cost of capital, provide access to additional capital sources, and support the company's business plan and portfolio investments.
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Independence Realty Trust to Present at Citi’s 2024 Global Property CEO Conference

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Independence Realty Trust, Inc. (NYSE: IRT) announced the participation of its CEO and CFO in Citi's 2024 Global Property CEO Conference. The Company also shared its updated Investor Presentation on its website. The event will take place on March 5, 2024, with a live webcast available for investors.
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Independence Realty Trust Announces Fourth Quarter and Full Year 2023 Financial Results

Rhea-AI Summary
Independence Realty Trust, Inc. (IRT) announces full year 2024 guidance, highlighting financial results for Q4 and FY 2023. Despite a net loss in 2023, IRT shows growth in same-store NOI and CFFO. The company's 2024 guidance includes EPS of $0.42, CFFO per share of $1.14, and same-store NOI growth of 2.5%. Management focuses on portfolio optimization and deleveraging strategy to drive value and increase financial flexibility.
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Independence Realty Trust Announces Tax Treatment of Dividends in 2023

Rhea-AI Summary
Independence Realty Trust, Inc. (IRT) (NYSE: IRT) has announced the tax status of 2023 dividend distributions on its common stock. The final income allocations as reported on Form 1099-DIV are detailed in the press release. The company encourages shareholders to consult with their tax advisors regarding the tax effects of these dividends.
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Independence Realty Trust Announces Fourth Quarter and Full Year 2023 Earnings Release and Conference Call Dates

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Independence Realty Trust, Inc. (NYSE: IRT) plans to release its Q4 and full year 2023 financial results on February 14, 2024, followed by a conference call on February 15, 2024. The live call can be accessed on the IRT website or by phone, with a replay available after the call. Investors can access the call and replay on the IRT website or by phone until February 22, 2024.
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Independence Realty Trust Completes Sale of Four Properties, Advancing Portfolio Optimization and Deleveraging Strategy

Rhea-AI Summary
Independence Realty Trust, Inc. (NYSE: IRT) announced the successful sale of four properties for a total gross sales price of $200.7 million as part of the Company's Portfolio Optimization and Deleveraging Strategy. The sales allowed IRT to repay $196.8 million of debt, reducing leverage and increasing financial flexibility. Five of the six remaining assets under the strategy are also under contract, expected to generate gross sales proceeds of approximately $521 to $533 million.
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Independence Realty Trust Announces Fourth Quarter 2023 Dividend

Rhea-AI Summary
Independence Realty Trust, Inc. (NYSE: IRT) declares 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.
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Independence Realty Trust Scheduled to Participate in Nareit’s REITworld Annual Conference

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Independence Realty Trust, Inc. (NYSE: IRT) Announces Participation in Nareit's REITworld 2023 Annual Conference and Release of November Investor Presentation
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Independence Realty Trust Announces Third Quarter 2023 Financial Results

Rhea-AI Summary
Independence Realty Trust, Inc. (IRT) announced its Q3 2023 financial results, including a net income of $3.9 million and earnings per diluted share of $0.02. They also initiated a portfolio optimization strategy and updated their full year 2023 guidance. The strategy includes selling approximately 10 properties, generating gross sales proceeds of $521 to $533 million, and reducing outstanding debt by $516 to $528 million. The company expects these initiatives to strengthen their balance sheet and improve their presence in the multifamily sector in 2024.
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FAQ

What is the current stock price of Independence Realty Trust (IRT)?

The current stock price of Independence Realty Trust (IRT) is $20.19 as of December 20, 2024.

What is the market cap of Independence Realty Trust (IRT)?

The market cap of Independence Realty Trust (IRT) is approximately 4.5B.

What does Independence Realty Trust Inc. do?

IRT acquires, owns, operates, improves, and manages multifamily apartment communities in non-gateway U.S. markets.

Where is Independence Realty Trust Inc. headquartered?

The company is headquartered at Cira Centre, 2929 Arch Street, 17th Floor, Philadelphia, PA 19104, United States.

In which markets does Independence Realty Trust Inc. operate?

IRT operates in non-gateway U.S. markets, including Louisville, Memphis, Atlanta, and Raleigh.

What is IRT's focus in terms of property locations?

IRT focuses on gaining scale within key amenity-rich submarkets that offer school districts, retail, and various employment centers.

What are some recent achievements of Independence Realty Trust Inc.?

Recent achievements include successful acquisitions and the strategic repositioning of properties to enhance value and tenant satisfaction.

How does IRT ensure the quality of its properties?

IRT continuously works on improving its existing assets, ensuring they meet modern standards and residents' expectations.

How is IRT's financial condition?

IRT maintains a solid balance sheet and a diversified portfolio, which helps mitigate risks associated with regional economic fluctuations.

Does Independence Realty Trust Inc. have any partnerships?

Yes, IRT boasts partnerships with various stakeholders, further strengthening its market position and operational capabilities.

What type of properties does Independence Realty Trust Inc. specialize in?

IRT specializes in multifamily apartment communities.

Why are IRT's chosen markets attractive for residents?

IRT's chosen markets are attractive due to excellent school districts, robust retail sectors, and various employment centers.

Stock IRT logo
Independence Realty Trust Inc.

NYSE:IRT

IRT Rankings

#1357 Ranked by Market Cap
#1018 Ranked by Dividends

IRT Stock Data

4.49B
223.45M
0.73%
101.95%
12.53%
REIT - Residential
Real Estate Investment Trusts
Link
United States of America
PHILADELPHIA