Independence Realty Trust, Inc. Stock News

After a brutal December (-6.85%), the REIT sector averaged negative total returns again in January (-1.29%). Large cap (+0.30%) and mid cap REITs (+0.09%) averaged small gains in January, whereas small caps (-0.95%) and micro caps (-7.80%) started the year in the red. Only 42.58% of REIT securities had a positive total during the first month of 2025.

Independence Realty Trust, Inc. (NYSE:IRT ) Q4 2024 Earnings Conference Call February 13, 2025 9:00 AM ET Company Participants Maddy Zimba - Investor Relations Scott Schaeffer - Chief Executive Officer Jim Sebra - Chief Financial Officer Janice Richards - Senior Vice President, Operations Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Eric Wolfe - Citi Brad Heffern - R...

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (“IRT” and the “Company”) (NYSE: IRT), a multifamily apartment REIT, announces its fourth quarter and full year 2024 financial results and establishes full year 2025 guidance.   EPS of $0.17 for 2024   CFFO of $0.32 for Fourth Quarter and $1.16 for Full Year 2024 High-End of Guidance   Same Store Portfolio NOI Increased 5.3% and 3.2...

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (“IRT”) (NYSE: IRT) today announced the tax status of 2024 dividend distributions on its common stock. The final income allocations as they will be reported on Form 1099-DIV are set forth in the following table: Common Shares (CUSIP #45378A106) Record Date Payment Date Distribution Per Share Ordinary Dividend Total Capital Gain Dist...

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) today announced that it expects to release its fourth quarter and full year 2024 financial results after market close on Wednesday, February 12, 2025, and will hold its quarterly results conference call on Thursday, February 13, 2025 at 9:00 a.m. Eastern Time. The live conference call can be accessed from the inv...

Apartment rental rates are significantly below equilibrium due to oversupply from zero interest rate policies, with rents expected to rise 10%-20% by 2027. Investment opportunities in apartment REITs are promising; current low valuations present a buying opportunity as equilibrium is restored and rents increase. Coastal, Midwestern, and Sunbelt apartment REITs, as well as Canadian REIT BSR, off...

PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) announced that on January 8, 2025 its operating partnership, Independence Realty Operating Partnership, LP, entered into an amended and restated unsecured credit facility. The new facility increases the borrowing capacity under IRT's existing revolver from $500 million to $750 million and extends the maturity dat...

COVID-19 led to a migration to Sunbelt cities, causing a surge in apartment rents and subsequent overbuilding, which is now stabilizing. Multifamily REITs saw a decline in valuations but are now modestly valued with a P/AFFO multiple averaging 18.3x, higher than the broader REIT market. Despite suppressed rent growth and occupancy, strong job markets and reduced new supply suggest the potential...