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 reports news as a multifamily apartment REIT that owns and operates communities across non-gateway U.S. markets. Company updates commonly cover quarterly financial results, same-store net operating income, rent and occupancy trends, recurring capital expenditures, value-add spending, and selective apartment-community acquisitions in markets such as Columbus.
IRT news also includes REIT-specific capital and shareholder matters, including quarterly common-stock dividends, dividend tax treatment, unsecured credit facilities, term loans, debt maturities, and investor presentation materials tied to portfolio management and balance-sheet activity.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
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.