Welcome to our dedicated page for Independence news (Ticker: IRT), a resource for investors and traders seeking the latest updates and insights on Independence stock.
Independence Realty Trust Inc (NYSE: IRT) operates as a multifamily REIT specializing in amenity-rich apartment communities across non-gateway U.S. markets. This page aggregates official news and press releases to help stakeholders track the company's strategic initiatives, property portfolio changes, and market positioning.
Investors and analysts will find timely updates on earnings reports, property acquisitions, and operational milestones, along with insights into IRT's focus on suburban markets with strong school districts and employment hubs. The curated collection serves as a centralized resource for monitoring the REIT's performance in less saturated markets like Atlanta, Memphis, and Raleigh.
Content spans quarterly financial disclosures, management updates, and strategic partnerships. Regular visitors can efficiently track IRT's progress in enhancing property values through targeted improvements while maintaining occupancy stability in its communities.
Bookmark this page for streamlined access to verified IRT developments. Combine these updates with broader market analysis to inform your understanding of multifamily REIT opportunities in secondary U.S. markets.
Independence Realty Trust (IRT) has released its first quarter 2023 financial results, reporting a net income available to common shares of $8.6 million, a significant decrease from $74.6 million in Q1 2022. Earnings per diluted share fell to $0.04 from $0.34. However, same-store portfolio net operating income (NOI) grew by 8.2% year-over-year, driven by an increase in rental revenue of 7.5%. Core Funds from Operations (CFFO) rose to $62.5 million with a CFFO per share of $0.27, up from $0.25 in the same quarter last year. The company completed renovations on 635 units with an average return on investment of 17.8%. IRT has maintained its EPS guidance for 2023, projecting a range of $0.23 to $0.27.
Independence Realty Trust, Inc. (NYSE: IRT) will release its first quarter 2023 financial results on April 26, 2023, after market close. A conference call is scheduled for April 27, 2023, at 9:00 a.m. Eastern Time. Investors can access the call via the IRT investor relations website or by dialing 1.833.470.1428 with access code 034663. A replay will be available until May 4, 2023. IRT operates multifamily communities in non-gateway U.S. markets like Atlanta, Dallas, and Denver, focusing on strategic locations near employment centers to provide attractive returns to shareholders.
Independence Realty Trust (IRT) announced the departure of President Farrell Ender, effective May 1, 2023, as he pursues other opportunities. Chairman and CEO Scott Schaeffer acknowledged Ender's contributions to IRT's growth as a leading public multifamily REIT. Following this transition, IRT will realign asset management, revenue management, and marketing initiatives under Operations, led by Mike Daley and Janice Richards, with Schaeffer additionally assuming the role of President. The board declared a quarterly dividend of $0.14 per share, payable on April 21, 2023, reinforcing the company's commitment to shareholders.
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