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
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.
Independence Realty Trust, Inc. (IRT) has announced a quarterly dividend of
Independence Realty Trust, Inc. (IRT) announced its second quarter 2022 financial results, featuring a net loss of $7.2 million compared to a gain of $3.4 million in Q2 2021. Despite this, the company reported a 14.4% increase in same-store net operating income (NOI) and a significant rise in Core Funds from Operations (CFFO) to $58.6 million. IRT also raised its full-year 2022 EPS guidance to $0.48-$0.50. Notably, the company secured a new $400 million term loan and completed renovations on 195 units with a 34.6% return on investment.
Independence Realty Trust, Inc. (NYSE: IRT) will release its Q2 2022 financial results after market close on Wednesday, July 27, 2022. Following the release, a conference call is set for Thursday, July 28, 2022, at 9:00 a.m. Eastern Time. Investors can access the call via the investor relations section at irtliving.com or by dialing 1.844.200.6205 (access code: 994624). A replay will be available on the website and via telephone until August 4, 2022.
Independence Realty Trust, Inc. (NYSE: IRT) announced that Chairman and CEO Scott Schaeffer and CFO Jim Sebra will attend the Nareit’s REITweek 2022 Investor Conference on June 7-8 in New York City. A management presentation is scheduled for June 7 at 2:15 PM ET, with a live webcast available on IRT's investor relations website. An updated Investor Presentation has also been published. IRT operates multifamily properties across key U.S. markets, focusing on delivering attractive returns through effective portfolio management and operational performance.
Independence Realty Trust, Inc. (IRT) has authorized a $250 million stock repurchase program, reflecting confidence in its financial position. Additionally, a 17% increase in quarterly dividends to $0.14 per share was announced, payable on July 22, 2022. This strong capital allocation strategy aims to enhance shareholder value while balancing growth initiatives and leverage optimization. The repurchase program has no set timeframe and may be adjusted based on market conditions.
Independence Realty Trust, Inc. (IRT) reported first-quarter 2022 results, showing a significant net income of $74.6 million and earnings per diluted share of $0.34, compared to just $1.1 million and $0.01 respectively in Q1 2021. The same-store net operating income (NOI) experienced a robust growth of 16.2%. The company raised its full-year EPS guidance to $0.50-$0.52, reflecting an optimistic outlook. Notably, IRT achieved annual synergies of $31 million from its merger. Additionally, IRT completed renovations on 143 units with a 32% ROI, showcasing an efficient value-add program.
Independence Realty Trust, Inc. (NYSE: IRT) will release its first quarter 2022 financial results on May 3, 2022, post-market. A conference call is scheduled for May 4, 2022, at 9:00 a.m. Eastern Time. Investors can access the call via the investor relations section of IRT's website or by dialing 1.844.200.6205 with access code 594917. A replay will be available for playback until May 11, 2022.
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