Independence Realty Trust Earnings Reports

IRT reported strong same-store NOI growth of 5.3% in Q4, driven by rental rate increases and improved occupancy. CFFO per share rose 6.7% year-over-year. The company strengthened its balance sheet with a lower net debt-to-EBITDA ratio and an expanded credit facility.

Independence Realty Trust reported a net income of $12.4 million, representing an EPS of $0.05. The company's same-store portfolio NOI grew by 2.2%. They also received a 'BBB' investment grade credit rating from S&P Global Ratings.

Independence Realty Trust reported a net income of $10.4 million and EPS of $0.05 for Q2 2024. They experienced same-store NOI growth of 2.8%. The company also raised the midpoint of its full year 2024 same store NOI, EPS, and Core FFO guidance ranges.

Independence Realty Trust reported a net income of $17.6 million, or $0.08 per diluted share, for Q1 2024, compared to $8.6 million, or $0.04 per diluted share, for Q1 2023. The company achieved same-store NOI growth of 2.4% and improved average occupancy by 120 basis points to 94.4%. IRT also made significant progress in its Portfolio Optimization and Deleveraging Strategy, selling nine properties for $496.8 million and repaying $488.9 million of debt.

Independence Realty Trust reported a net loss of $40.5 million for Q4 2023, compared to a net income of $33.6 million in Q4 2022. Same-store NOI increased by 3.3%.

Independence Realty Trust reported a net income of $3.9 million and a same-store NOI growth of 4.8% for the third quarter of 2023. The company has initiated a portfolio optimization and deleveraging strategy to sell non-core assets and reduce debt.

Independence Realty Trust reported a net income of $10.7 million, a same-store NOI growth of 6.3%, and a Core FFO of $63.7 million for the second quarter of 2023. The company also completed renovations at 625 units during the quarter, achieving a weighted average return on investment of 16.2%.

Independence Realty Trust reported a net income of $8.6 million and an EPS of $0.04 for Q1 2023. The company achieved an 8.2% increase in same-store NOI, driven by a 4.0% blended lease over lease rental growth. They renovated 635 units in their value add program with a 17.8% return on investment.

Independence Realty Trust reported a net income of $33.6 million for Q4 2022, compared to $28.6 million for Q4 2021. The company's combined same-store portfolio net operating income (NOI) grew by 13.0%. Core Funds from Operations (CFFO) reached $66.8 million, or $0.29 per share.

Independence Realty Trust (IRT) announced strong Q3 2022 results with double-digit revenue and NOI growth. The company's same-store portfolio NOI increased by 11.5%, driven by blended lease over lease rental growth of 12.7%. IRT is maintaining its full year NOI and increasing its Core FFO per share growth guidance.

Independence Realty Trust reported strong second-quarter results, driven by its high-quality portfolio in non-gateway markets. The company delivered 14.4% same-store NOI growth and blended lease over lease rental growth of 12.7%.

Independence Realty Trust reported a strong first quarter in 2022, marked by a significant increase in net income, earnings per share, and combined same-store NOI growth. The company also completed its merger integration and secured $31 million in annual synergies.

Independence Realty Trust reported strong fourth-quarter results, marked by significant growth in net income and same-store NOI. The completion of the STAR merger has doubled the property and unit count, positioning the company for continued growth in the U.S. Sunbelt region.

Independence Realty Trust reported a net income of $11.5 million, representing an EPS of $0.11. Same store NOI grew by 14.7% and the company updated its full year 2021 same store NOI guidance to a midpoint of 10.25% and full year 2021 CFFO guidance to a midpoint of $0.81 per share.

Independence Realty Trust reported a net income of $3.4 million for the second quarter of 2021, with same-store NOI growth of 9.6% and core FFO of $20.2 million. The company also announced a strategic merger with Steadfast Apartment REIT.

Independence Realty Trust reported a net income available to common shares of $1.1 million, a significant improvement from the net loss of $0.4 million in the same quarter of the previous year. Same-store NOI increased by 5.3%, driven by occupancy and rental rate growth. The company is raising its 2021 guidance due to an improving outlook.

Independence Realty Trust reported a net income available to common shares of $13.3 million for Q4 2020, with Core Funds from Operations (CFFO) at $20.8 million, or $0.22 per share, and Adjusted EBITDA of $28.5 million.

Independence Realty Trust (IRT) reported a resilient performance in Q3 2020, characterized by a strong portfolio of assets in non-gateway markets and a focus on middle-market communities. The company maintained a solid occupancy rate and average effective rent, while also making progress in its value-add program. IRT's strategic initiatives and strong balance sheet have positioned it well to navigate the current environment.

Independence Realty Trust reported a net income of $0.8 million, with diluted earnings per share of $0.01. Core Funds from Operations (CFFO) was $18.0 million, with CFFO per share at $0.19. The company's same-store net operating income (NOI) grew by 1.2%.

Independence Realty Trust reported a net loss allocable to common shares of $0.4 million, with earnings per diluted share of $0.00. However, the company demonstrated strong performance with same-store NOI growth of 7.0%.

Independence Realty Trust reported a strong Q4 2019, driven by same-store NOI growth of 9.6%. The company covered its dividend on an AFFO basis as of year-end and is focusing on non-gateway markets and value-add initiatives.