Independence Stock Price, News & Analysis

Independence Realty Trust, Inc. (NYSE: IRT) announced a quarterly dividend of $0.14 per share, payable on January 20, 2023, to stockholders recorded by December 30, 2022. This steady dividend demonstrates the company’s ongoing commitment to providing returns to its investors. IRT focuses on multifamily communities in non-gateway U.S. markets. The press release also mentions uncertainties due to potential economic challenges and risks associated with its merger with Steadfast Apartment REIT, Inc. (STAR).

Independence Realty Trust, Inc. (NYSE: IRT) announced the departure of Ella Neyland as Chief Operating Officer, effective December 15, 2022. She will continue in a consultancy role until June 2024. During an operational update, Scott Schaeffer, CEO, reported a 7.7% increase in average rental rates in Q4 2022 and affirmed guidance for 28% Core FFO per share growth for the full year. IRT's occupancy remained steady at 94.2%, showing resilience in the sunbelt region.

Independence Realty Trust, Inc. (IRT) reported strong third quarter 2022 results, with net income available to common shares increasing to $16.2 million from $11.5 million YoY. Earnings per diluted share decreased to $0.07, down from $0.11 last year. Significant growth was noted in same-store portfolio net operating income (NOI), which rose by 11.5%, and Core Funds from Operations (CFFO) surged to $64.3 million from $22.7 million YoY. Adjusted EBITDA also saw an increase to $89.3 million. The company has maintained its full-year guidance for NOI and increased its CFFO per share growth outlook.

Independence Realty Trust, Inc. (NYSE: IRT) plans to release its third quarter 2022 financial results on October 26, 2022, after the market close. A conference call discussing the results is scheduled for October 27, 2022, at 9:00 a.m. Eastern Time. Investors can access the call via the IRT website or by dialing 1.844.200.6205 with the access code 647671. A replay will be available on the website until the next earnings release, and telephonically until November 3, 2022.

Independence Realty Trust (NYSE: IRT) reported that its apartment communities in Tampa and Orlando, Florida remained largely undamaged following Hurricane Ian. CEO Scott Schaeffer confirmed the safety of residents and staff, thanking on-site teams for their preparedness. The company will provide updates should any significant developments occur. IRT focuses on owning and managing multifamily properties across the U.S., aiming to achieve attractive risk-adjusted returns through effective portfolio management.

Independence Realty Trust, Inc. (IRT) has announced a quarterly dividend of $0.14 per share, payable on October 21, 2022, to shareholders recorded by September 30, 2022. Additionally, IRT's leadership will meet with investors at the Bank of America Securities 2022 Global Real Estate Conference in New York City on September 13 and 14. The company's latest investor presentation is available on its website, reinforcing its commitment to providing attractive returns through effective portfolio management.

Independence Realty Trust, Inc. (IRT) announced its second quarter 2022 financial results, featuring a net loss of $7.2 million compared to a gain of $3.4 million in Q2 2021. Despite this, the company reported a 14.4% increase in same-store net operating income (NOI) and a significant rise in Core Funds from Operations (CFFO) to $58.6 million. IRT also raised its full-year 2022 EPS guidance to $0.48-$0.50. Notably, the company secured a new $400 million term loan and completed renovations on 195 units with a 34.6% return on investment.

Independence Realty Trust, Inc. (NYSE: IRT) will release its Q2 2022 financial results after market close on Wednesday, July 27, 2022. Following the release, a conference call is set for Thursday, July 28, 2022, at 9:00 a.m. Eastern Time. Investors can access the call via the investor relations section at irtliving.com or by dialing 1.844.200.6205 (access code: 994624). A replay will be available on the website and via telephone until August 4, 2022.