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Independence Realty Trust

🇺🇸 NYSE:IRT

View Company

Overview Earnings Dividends

May 06, 2020

•

Mar 31, 2020

Independence Realty Trust Q1 2020 Earnings Report

Announced first quarter 2020 financial results, showing a net loss but strong same-store NOI growth.

Key Takeaways

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%.

Net loss allocable to common shares was $0.4 million.

Earnings per diluted share was $0.00.

Same store net operating income grew by 7.0%.

Core Funds from Operations (CFFO) was $17.6 million, or $0.19 per share.

Total Revenue

$51.2M

Previous year: $49.5M

+3.4%

EPS

$0.19

Previous year: $0.18

+5.6%

Same-store avg rental rate

$1.1K

Same-store avg occupancy

92.5%

NOI Margin

61.5%

Previous year: 59.8%

+2.8%

Cash and Equivalents

$57.4M

Previous year: $9.03M

+536.1%

Total Assets

$1.76B

Previous year: $1.66B

+6.1%

Independence Realty Trust

Forward Guidance

IRT suspended its fiscal 2020 guidance, given the uncertainty around the length and depth of the coronavirus crisis and its impact on the economy.

Company Overview

Full financial data and analysis

View Independence Realty Trust