STOCK TITAN

Independence Realty Trust Inc - IRT STOCK NEWS

Welcome to our dedicated news page for Independence Realty Trust (Ticker: IRT), a resource for investors and traders seeking the latest updates and insights on Independence Realty Trust.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Independence Realty Trust's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Independence Realty Trust's position in the market.

Rhea-AI Summary
Independence Realty Trust, Inc. (IRT) reported strong first quarter 2024 financial results with a net income of $17.6 million, earnings per diluted share of $0.08, and a 2.4% growth in same-store portfolio NOI. The company disposed of nine properties for $496.8 million, significantly reducing debt. Despite a slight decrease in Core Funds from Operations (CFFO) and Adjusted EBITDA, IRT's value add program achieved an 18.0% return. Management highlighted a 3.4% increase in same-store revenue and a focus on driving occupancy. The Portfolio Optimization and Deleveraging Strategy led to an investment grade rating from Fitch Ratings. The company confirmed its 2024 EPS, FFO, and CFFO guidance ranges, with updated earnings per share projected at $0.34 to $0.38.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.63%
Tags
-
Rhea-AI Summary
Independence Realty Trust, Inc. (NYSE: IRT) announces the release of its first quarter 2024 financial results on April 24, 2024, followed by a conference call on April 25, 2024. Investors can access the live call through the IRT website or by phone. A replay will be available until May 2, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.46%
Tags
-
Rhea-AI Summary
Independence Realty Trust, Inc. (NYSE: IRT) has successfully sold three properties for a total of $168.1 million as part of its Portfolio Optimization and Deleveraging Strategy. With a total of nine properties sold since October 2023, generating $496.8 million, the company aims to reach $525.3 million in gross sales proceeds to reduce debt and improve financial health by the end of 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.09%
Tags
none
Rhea-AI Summary
Independence Realty Trust, Inc. (NYSE: IRT) released its 2023 Sustainability Report, showcasing progress in sustainability strategies and initiatives for a sustainable future. Key pillars include enhancing residential living, supporting associates, reducing environmental impact, and promoting good governance.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.09%
Tags
none
-
Rhea-AI Summary
Independence Realty Trust, Inc. (IRT) declares a quarterly dividend of $0.16 per share of common stock, payable on April 19, 2024, to stockholders of record on March 29, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.68%
Tags
dividends earnings
-
Rhea-AI Summary
Independence Realty Trust, Inc. (IRT) received an investment grade rating of 'BBB' from Fitch Ratings, a significant milestone for the company. The rating reflects IRT's solid balance sheet, stable property performance, and successful execution of its Portfolio Optimization and Deleveraging Strategy. This achievement will enhance IRT's cost of capital, provide access to additional capital sources, and support the company's business plan and portfolio investments.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.69%
Tags
none
Rhea-AI Summary
Independence Realty Trust, Inc. (NYSE: IRT) announced the participation of its CEO and CFO in Citi's 2024 Global Property CEO Conference. The Company also shared its updated Investor Presentation on its website. The event will take place on March 5, 2024, with a live webcast available for investors.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.33%
Tags
conferences
-
Rhea-AI Summary
Independence Realty Trust, Inc. (IRT) announces full year 2024 guidance, highlighting financial results for Q4 and FY 2023. Despite a net loss in 2023, IRT shows growth in same-store NOI and CFFO. The company's 2024 guidance includes EPS of $0.42, CFFO per share of $1.14, and same-store NOI growth of 2.5%. Management focuses on portfolio optimization and deleveraging strategy to drive value and increase financial flexibility.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.74%
Tags
-
Rhea-AI Summary
Independence Realty Trust, Inc. (IRT) (NYSE: IRT) has announced the tax status of 2023 dividend distributions on its common stock. The final income allocations as reported on Form 1099-DIV are detailed in the press release. The company encourages shareholders to consult with their tax advisors regarding the tax effects of these dividends.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.46%
Tags
dividends
Rhea-AI Summary
Independence Realty Trust, Inc. (NYSE: IRT) plans to release its Q4 and full year 2023 financial results on February 14, 2024, followed by a conference call on February 15, 2024. The live call can be accessed on the IRT website or by phone, with a replay available after the call. Investors can access the call and replay on the IRT website or by phone until February 22, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.21%
Tags
Independence Realty Trust Inc

NYSE:IRT

IRT Rankings

IRT Stock Data

3.70B
222.74M
0.75%
90.86%
4.11%
Other Financial Vehicles
Finance and Insurance
Link
US
Philadelphia

About IRT

independence realty trust inc (irt) is a real estate company located in cira centre, 2929 arch street 17th floor, philadelphia, pa 19104, united states, philadelphia, pennsylvania, united states.