Independence Stock Price, News & Analysis

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.

Independence Realty Trust, Inc. (NYSE: IRT) announced that Chairman and CEO Scott Schaeffer and CFO Jim Sebra will attend the Nareit’s REITweek 2022 Investor Conference on June 7-8 in New York City. A management presentation is scheduled for June 7 at 2:15 PM ET, with a live webcast available on IRT's investor relations website. An updated Investor Presentation has also been published. IRT operates multifamily properties across key U.S. markets, focusing on delivering attractive returns through effective portfolio management and operational performance.

Independence Realty Trust, Inc. (IRT) has authorized a $250 million stock repurchase program, reflecting confidence in its financial position. Additionally, a 17% increase in quarterly dividends to $0.14 per share was announced, payable on July 22, 2022. This strong capital allocation strategy aims to enhance shareholder value while balancing growth initiatives and leverage optimization. The repurchase program has no set timeframe and may be adjusted based on market conditions.

Independence Realty Trust, Inc. (IRT) reported first-quarter 2022 results, showing a significant net income of $74.6 million and earnings per diluted share of $0.34, compared to just $1.1 million and $0.01 respectively in Q1 2021. The same-store net operating income (NOI) experienced a robust growth of 16.2%. The company raised its full-year EPS guidance to $0.50-$0.52, reflecting an optimistic outlook. Notably, IRT achieved annual synergies of $31 million from its merger. Additionally, IRT completed renovations on 143 units with a 32% ROI, showcasing an efficient value-add program.

Independence Realty Trust, Inc. (NYSE: IRT) will release its first quarter 2022 financial results on May 3, 2022, post-market. A conference call is scheduled for May 4, 2022, at 9:00 a.m. Eastern Time. Investors can access the call via the investor relations section of IRT's website or by dialing 1.844.200.6205 with access code 594917. A replay will be available for playback until May 11, 2022.

Independence Realty Trust, Inc. (IRT) declared a quarterly dividend of $0.12 per share, payable on April 22, 2022, to stockholders of record by April 1, 2022. Following its merger with STAR, IRT positions itself to invest excess cash flow into value-add renovations and development projects, enhancing returns for shareholders. The board emphasizes a commitment to maximize shareholder value through an effective capital allocation strategy.

Independence Realty Trust, Inc. (NYSE: IRT) announced participation by its executives in Citi’s 2022 Global Property CEO Conference in Hollywood, FL, scheduled for March 8, 2022, at 9:45 AM ET. The company has updated its Investor Presentation, which is available on the IRT website. The live webcast of the presentation can be accessed through a provided link. IRT operates multifamily apartment properties in 119 U.S. markets, focusing on amenity-rich submarkets to deliver attractive returns to shareholders.

Independence Realty Trust (IRT) reported strong fourth quarter and full year 2021 results, highlighting a net income of $28.6 million for Q4 and $44.6 million for the year. Earnings per diluted share improved to $0.23 in Q4 and $0.41 for the full year. The company achieved a same-store NOI growth of 15.1% in Q4 and 11.4% for the full year. IRT introduced 2022 guidance projecting CFFO per share at $1.02 and same-store NOI growth of 11.0%. The merger with STAR was completed in December 2021, significantly expanding IRT’s portfolio.