Independence Realty Trust Q4 2024 Earnings Report

Key Takeaways

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.

Total Revenue

$161M

Previous year: $167M

-3.8%

EPS

$0.32

Previous year: $0.3

+6.7%

Avg Rent per Unit

$1.57K

Previous year: $1.56K

+0.8%

Avg Occupancy

95.5%

Previous year: 94.6%

+1.0%

Number of Properties

113

Previous year: 116

-2.6%

Independence Realty Trust Revenue

Independence Realty Trust EPS

Independence Realty Trust Revenue by Segment

Forward Guidance

IRT expects stable growth in 2025, with a focus on maintaining occupancy levels, rental rate growth, and continued financial flexibility.

Positive Outlook

EPS expected to grow to $0.19 - $0.22
CFFO per share projected at $1.16 - $1.19
Same-store NOI growth forecasted between 0.8% - 3.3%
Strengthened balance sheet with lower net debt-to-EBITDA
Expanded credit facility provides increased liquidity

Challenges Ahead

Lower projected NOI growth range compared to prior periods
Potential increases in property operating expenses
Challenges in lease-over-lease rental rate growth
Higher interest expense expectations
Market conditions may impact acquisition strategy