Independence Stock Price, News & Analysis

Independence Realty Trust (IRT) reported solid Q1 2025 financial results with earnings per share of $0.04 and Core FFO per share of $0.27. The company's same-store portfolio NOI increased by 2.7%, driven by improved occupancy rates reaching 95.4%.

Key highlights include:

• Completed 275 unit renovations with 16.2% ROI
• Sold Ridge Crossings in Birmingham for $111 million
• Acquired Autumn Breeze in Indianapolis for $59.5 million
• Expanded unsecured revolver from $500 million to $750 million
• Net debt to Adjusted EBITDA at 6.3x

The company maintains its 2025 guidance with CFFO per share projected at $1.16-$1.19. IRT's strategy focuses on market expansion, with two additional communities under contract for Q2 acquisition totaling $154.8 million. The quarterly dividend was declared at $0.16 per share, paid on April 21, 2025.

Independence Realty Trust (NYSE: IRT) has scheduled its first quarter 2025 earnings release and conference call. The company will release its financial results on Wednesday, April 30, 2025, after market close. Management will host a conference call to discuss the results on Thursday, May 1, 2025, at 9:00 a.m. Eastern Time.

Investors can access the live conference call via telephone at (888) 440-3307 using conference ID 1963990, or through the investor relations section of IRT's website. A replay will be available on the company's website and by phone until May 8, 2025, at 11:59 p.m. Eastern Time.

Independence Realty Trust (NYSE: IRT) has declared its quarterly dividend for the first quarter of 2025. The company's board of directors approved a dividend payment of $0.16 per share of IRT common stock. The dividend will be paid on April 21, 2025, to shareholders who are recorded as stockholders as of the close of business on March 28, 2025.

Independence Realty Trust (IRT) reported its Q4 and full-year 2024 financial results, achieving the high end of guidance with CFFO per share of $1.16 and NOI growth of 3.2%. The company posted EPS of $0.17 for 2024, with same-store portfolio NOI increasing 5.3% in Q4 and 3.2% for the full year.

Key highlights include completing 1,671 renovations with a 15.7% ROI, improving net debt-to-adjusted EBITDA to 5.9x, and achieving a BBB credit rating from S&P. The company expanded its unsecured credit facility from $500M to $750M in January 2025.

For 2025 guidance, IRT projects EPS of $0.19-$0.22, CFFO per share of $1.16-$1.19, and same-store NOI growth of 0.8-3.3%. The company completed strategic acquisitions in Charlotte and Orlando, expanding its portfolio presence in these markets.

Independence Realty Trust (IRT) has disclosed the tax treatment of its 2024 dividend distributions for common stock shareholders. The company will distribute a total of $0.64 per share throughout 2024, paid in four equal quarterly installments of $0.16 each.

The distributions are broken down as follows: $0.07812 classified as ordinary dividend, $0.56188 as capital gain distribution, with $0.28780 being unrecaptured Section 1250 gain. Each quarterly payment maintains consistent tax treatment components. The company reports zero return of capital and confirms that One Year and Three Year Amounts Disclosure under section 1061 are $0.00 for all payment dates.

Independence Realty Trust (NYSE: IRT) has announced its schedule for the release of fourth quarter and full year 2024 financial results. The company will release its earnings after market close on Wednesday, February 12, 2025, followed by a quarterly results conference call on Thursday, February 13, 2025 at 9:00 a.m. Eastern Time.

Investors can access the live conference call through IRT's investor relations website at investors.irtliving.com or by phone at 1.888.440.3307 using access code 1963990. A replay will be available on the company's website and by phone until February 20, 2025, at 11:59 p.m. Eastern Time.

Independence Realty Trust (NYSE: IRT) has secured an expanded unsecured credit facility, increasing its revolver capacity from $500 million to $750 million and extending the maturity date from January 2026 to January 2029. The facility includes reduced margins on both the revolver and the existing $200 million term loan. Current outstanding amount under the revolver is $214 million.

The term loan now bears interest at SOFR plus 0.80% to 1.60%, while the revolver bears interest at SOFR plus 0.725% to 1.40%. Based on IRT's BBB investment grade rating, current rates are SOFR plus 0.85% for the term loan and SOFR plus 0.775% for the revolver, representing a weighted average reduction in margin of approximately 34 basis points.

Independence Realty Trust (NYSE: IRT) has declared a quarterly dividend of $0.16 per share of common stock. The dividend will be paid on January 17, 2025, to stockholders of record as of the close of business on December 31, 2024.

Independence Realty Trust (NYSE: IRT) has announced its participation in Nareit's REITworld 2024 Annual Conference in Las Vegas on November 19 and 20. The company's senior leadership team, including Chairman and CEO Scott Schaeffer, CFO and President Jim Sebra, CAO Jason Delozier, and SVP of Operations Janice Richards, will host meetings with investors and analysts during the conference. IRT has made its November Investor Presentation available on their website at www.irtliving.com under the Investor Relations section's Presentations area.