Independence Realty Trust Inc. - IRT STOCK NEWS

Independence Realty Trust, Inc. (IRT) announced its fourth quarter and full year 2022 results, reporting a net income of $33.6 million for Q4 and $117.2 million for the full year, up from $28.6 million and $44.6 million respectively in 2021. Q4 earnings per diluted share were $0.15, while the full year EPS was $0.53. Same-store portfolio NOI growth was 13.0% for Q4 and 13.7% for the year. For 2023, IRT provided guidance with anticipated earnings per diluted share between $0.23 and $0.27 and CFFO per share of $1.14. The company continues a value add renovation strategy, achieving a 24.1% ROI on 1,451 renovated units in 2022.

Independence Realty Trust, Inc. (IRT) provided tax reporting information for its 2022 dividend distributions on common stock. The dividends include a total payment of $0.12000 per share on April 22, 2022, $0.14000 per share on July 22, 2022, $0.14000 per share on October 21, 2022, and $0.14000 per share on January 20, 2023. Shareholders are encouraged to consult tax advisors regarding income tax implications of these dividends. IRT operates multifamily communities in several U.S. markets, focusing on high-quality, amenity-rich areas. For more details, visit IRT's website.

Independence Realty Trust, Inc. (NYSE: IRT) is set to announce its fourth quarter and full year 2022 financial results on February 15, 2023, after market close. Following this, a live conference call will take place on February 16, 2023, at 9:00 a.m. Eastern Time. Investors can access the call via the IRT website or by calling 1.844.200.6205 with access code 513491. A replay will be available until February 23, 2023. IRT focuses on multifamily communities in non-gateway U.S. markets, aiming to provide attractive risk-adjusted returns and operate in key amenity-rich submarkets.

Independence Realty Trust, Inc. (NYSE: IRT) announced a quarterly dividend of $0.14 per share, payable on January 20, 2023, to stockholders recorded by December 30, 2022. This steady dividend demonstrates the company’s ongoing commitment to providing returns to its investors. IRT focuses on multifamily communities in non-gateway U.S. markets. The press release also mentions uncertainties due to potential economic challenges and risks associated with its merger with Steadfast Apartment REIT, Inc. (STAR).

Independence Realty Trust, Inc. (NYSE: IRT) announced the departure of Ella Neyland as Chief Operating Officer, effective December 15, 2022. She will continue in a consultancy role until June 2024. During an operational update, Scott Schaeffer, CEO, reported a 7.7% increase in average rental rates in Q4 2022 and affirmed guidance for 28% Core FFO per share growth for the full year. IRT's occupancy remained steady at 94.2%, showing resilience in the sunbelt region.

Independence Realty Trust, Inc. (IRT) reported strong third quarter 2022 results, with net income available to common shares increasing to $16.2 million from $11.5 million YoY. Earnings per diluted share decreased to $0.07, down from $0.11 last year. Significant growth was noted in same-store portfolio net operating income (NOI), which rose by 11.5%, and Core Funds from Operations (CFFO) surged to $64.3 million from $22.7 million YoY. Adjusted EBITDA also saw an increase to $89.3 million. The company has maintained its full-year guidance for NOI and increased its CFFO per share growth outlook.

Independence Realty Trust, Inc. (NYSE: IRT) plans to release its third quarter 2022 financial results on October 26, 2022, after the market close. A conference call discussing the results is scheduled for October 27, 2022, at 9:00 a.m. Eastern Time. Investors can access the call via the IRT website or by dialing 1.844.200.6205 with the access code 647671. A replay will be available on the website until the next earnings release, and telephonically until November 3, 2022.

Independence Realty Trust (NYSE: IRT) reported that its apartment communities in Tampa and Orlando, Florida remained largely undamaged following Hurricane Ian. CEO Scott Schaeffer confirmed the safety of residents and staff, thanking on-site teams for their preparedness. The company will provide updates should any significant developments occur. IRT focuses on owning and managing multifamily properties across the U.S., aiming to achieve attractive risk-adjusted returns through effective portfolio management.