Independence Realty Trust, Inc. (NYSE: IRT) is a real estate investment trust that owns and operates multifamily apartment properties across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers. IRT aims to provide stockholders attractive risk-adjusted returns through diligent portfolio management, strong operational performance, and a consistent return on capital through distributions and capital appreciation.
IPO Year: 2013
Exchange: NYSE
Website: irtliving.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/17/2024 | $23.00 | Equal Weight | Barclays |
| 11/15/2024 | $19.00 → $21.00 | Underperform → Market Perform | BMO Capital Markets |
| 1/30/2024 | $18.00 | Buy | Deutsche Bank |
| 12/15/2023 | $14.00 → $15.00 | Market Perform → Underperform | BMO Capital Markets |
| 7/18/2023 | $19.00 | Outperform → Market Perform | BMO Capital Markets |
| 5/8/2023 | $20.00 | Mkt Perform → Mkt Outperform | JMP Securities |
| 1/30/2023 | Mkt Perform | JMP Securities | |
| 1/4/2023 | $22.00 → $19.00 | Buy → Hold | Deutsche Bank |
| 1/3/2023 | $20.00 → $17.00 | Buy → Hold | Jefferies |
| 10/19/2022 | $26.00 → $20.00 | Buy | Jefferies |
8-K - INDEPENDENCE REALTY TRUST, INC. (0001466085) (Filer)
8-K - INDEPENDENCE REALTY TRUST, INC. (0001466085) (Filer)
8-K - INDEPENDENCE REALTY TRUST, INC. (0001466085) (Filer)
10-Q - INDEPENDENCE REALTY TRUST, INC. (0001466085) (Filer)
8-K - INDEPENDENCE REALTY TRUST, INC. (0001466085) (Filer)
8-K - INDEPENDENCE REALTY TRUST, INC. (0001466085) (Filer)
8-K - INDEPENDENCE REALTY TRUST, INC. (0001466085) (Filer)
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8-K - INDEPENDENCE REALTY TRUST, INC. (0001466085) (Filer)
10-Q - INDEPENDENCE REALTY TRUST, INC. (0001466085) (Filer)
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 date of the revolver from January 2026 to January 2029. As of closing, the amount outstanding under the revolver was $214 million. Proceeds from the expanded revolver will be used for general corporate purposes. The amended and restated unsecured credit facility also reduces the margin on IRT's existing $200 million term loan. Borrow
Independence Realty Trust, Inc. (NYSE:IRT) ("IRT") announced that today IRT's board of directors declared a quarterly dividend of $0.16 per share of IRT common stock, payable on January 17, 2025 to stockholders of record at the close of business on December 31, 2024. About Independence Realty Trust, Inc. Independence Realty Trust, Inc. (NYSE:IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL. IRT's investment strategy is focused on gaining scale near major employ
Independence Realty Trust, Inc. (NYSE:IRT) ("IRT") today announced that Scott Schaeffer, Chairman and Chief Executive Officer, Jim Sebra, Chief Financial Officer and President, Jason Delozier, Chief Accounting Officer and Janice Richards, SVP of Operations are scheduled to host meetings with investors and analysts at Nareit's REITworld 2024 Annual Conference in Las Vegas on November 19 and 20. The company has posted its November Investor Presentation on its website at www.irtliving.com in the Investor Relations section under Presentations. About Independence Realty Trust, Inc. Independence Realty Trust, Inc. (NYSE:IRT) is a real estate investment trust that owns and operates multifami
Independence Realty Trust, Inc. ("IRT") (NYSE:IRT), a multifamily apartment REIT, today announced its third quarter 2024 financial results and that it has received a ‘BBB' issuer credit rating and stable outlook from S&P Global Ratings. Third Quarter Highlights Net income available to common shares of $12.4 million for the quarter ended September 30, 2024 compared to $3.9 million for the quarter ended September 30, 2023. Earnings per diluted share of $0.05 for the quarter ended September 30, 2024 compared to $0.02 for the quarter ended September 30, 2023. Same-store portfolio net operating income ("NOI") growth of 2.2% for the quarter ended September 30, 2024 compared to the quarter
Independence Realty Trust, Inc. (NYSE:IRT) ("IRT") announced today that its communities in Tampa and Orlando, Florida were minimally impacted by Hurricane Milton. "We extend our heartfelt thoughts to everyone affected by Hurricane Milton," said Scott Schaeffer, Chairman and CEO of IRT. "We are especially thankful to our on-site teams for their dedication in preparing our communities for this storm and responding quickly to ensure our residents remained safe." About Independence Realty Trust, Inc. Independence Realty Trust, Inc. (NYSE:IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Den
Independence Realty Trust, Inc. (NYSE:IRT) ("IRT") today announced that it expects to release its third quarter 2024 financial results after market close on Wednesday, October 30, 2024, and will hold its quarterly results conference call on Thursday, October 31, 2024 at 9:00 a.m. Eastern Time. The live conference call can be accessed from the investor relations section of the IRT website at investors.irtliving.com or by dialing 1.888.440.3307, access code 1963990. A replay of the conference call will be available shortly following the live call on the investor relations section of IRT's website and telephonically until Thursday, November 7, 2024 at 11:59 p.m. Eastern Time by dialing 1.800.
Independence Realty Trust, Inc. (NYSE:IRT) ("IRT") announced today the Company's apartment communities did not incur any significant damage as a result of Hurricane Helene. "We are grateful to report that all of our residents and employees in the areas that were impacted by Hurricane Helene are safe, and that our properties have not sustained any significant damage," said Scott Schaeffer, Chairman and CEO of IRT. "Our highest priority is the safety of our residents and employees, and we thank our on-site teams for their support in preparing for and responding to the storm. We will keep our stakeholders updated if there is a change in the status of our communities as we assess any residual
Independence Realty Trust, Inc. (NYSE:IRT) ("IRT") announced that today IRT's board of directors declared a quarterly dividend of $0.16 per share of IRT common stock, payable on October 18, 2024 to stockholders of record at the close of business on September 30, 2024. About Independence Realty Trust, Inc. Independence Realty Trust, Inc. (NYSE:IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL. IRT's investment strategy is focused on gaining scale near major employm
Independence Realty Trust, Inc. ("IRT") (NYSE:IRT), a multifamily apartment REIT, today announced the closing of its previously announced underwritten public offering of 11,500,000 shares of common stock at a public offering price of $19.75 per share, including 1,500,000 shares sold pursuant to the exercise in full of the underwriters' option to purchase additional shares of common stock. In connection with the offering, IRT entered into forward sale agreements with Citigroup. Citigroup, KeyBanc Capital Markets Inc., RBC Capital Markets, LLC, BofA Securities, Barclays, BMO Capital Markets Corp., Baird, Capital One Securities, Inc., Citizens JMP Securities, LLC, Jefferies LLC, Regions Secu
Independence Realty Trust, Inc. ("IRT") (NYSE:IRT), a multifamily apartment REIT, today announced the pricing of its public offering of 10,000,000 shares of common stock at a price of $19.75 per share in connection with the forward sale agreement described below. The Company also granted the underwriters a 30-day option to purchase up to 1,500,000 additional shares. The offering is expected to close on or about September 5, 2024, subject to customary closing conditions. Citigroup, KeyBanc Capital Markets and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. IRT has entered into a forward sale agreement with Citigroup (the "forward purchaser") with resp
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Waives Option to Classify Board Under Maryland Law Independence Realty Trust, Inc. (NYSE:IRT) ("IRT" or the "Company") today announced the appointment of Craig Macnab to its Board of Directors (the "Board"), effective February 29, 2024. Mr. Macnab brings over 20 years of experience to IRT's Board after serving in various executive and board roles in the REIT industry, including most recently as CEO of National Retail Properties, Inc. (NYSE:NNN) for 13 years. Mr. Macnab's appointment increases the size of IRT's Board to 10 members, including 8 independent directors. In connection with this announcement, the Company has entered into a cooperation agreement with Argosy-Lionbridge Management,
PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (“IRT”) (NYSE: IRT), a multifamily apartment REIT, today announced its fourth quarter and full year 2020 financial results. Fourth Quarter Highlights Net income available to common shares of $13.3 million for the quarter ended December 31, 2020 compared to $23.8 million for the quarter ended December 31, 2019. Earnings per diluted share of $0.14 for the quarter ended December 31, 2020 compared to $0.26 for the quarter ended December 31, 2019. The quarter ended December 31, 2020 included $9.4 million of gains on sale of real estate assets, net, whereas the quarter ended December 31, 2019 included $20.7 million of gains
PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) announced today the appointment of Lisa Washington as an independent director to IRT’s Board of Directors, effective January 5, 2021. The appointment increases the size of the Board from six to seven directors. “Lisa brings to IRT her expertise as an accomplished legal executive and corporate officer,” said Scott Schaeffer, IRT’s Chairman and CEO. “Lisa has more than 25 years of experience in corporate governance and public company compliance. She will add a valuable perspective to our company and be an important contributor as IRT continues to grow and deliver value for our stakeholders.” “The appo
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Independence Realty Trust, Inc. (NYSE:IRT) ("IRT") announced that today IRT's board of directors declared a quarterly dividend of $0.16 per share of IRT common stock, payable on January 17, 2025 to stockholders of record at the close of business on December 31, 2024. About Independence Realty Trust, Inc. Independence Realty Trust, Inc. (NYSE:IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL. IRT's investment strategy is focused on gaining scale near major employ
Independence Realty Trust, Inc. (NYSE:IRT) ("IRT") today announced that it expects to release its third quarter 2024 financial results after market close on Wednesday, October 30, 2024, and will hold its quarterly results conference call on Thursday, October 31, 2024 at 9:00 a.m. Eastern Time. The live conference call can be accessed from the investor relations section of the IRT website at investors.irtliving.com or by dialing 1.888.440.3307, access code 1963990. A replay of the conference call will be available shortly following the live call on the investor relations section of IRT's website and telephonically until Thursday, November 7, 2024 at 11:59 p.m. Eastern Time by dialing 1.800.
Independence Realty Trust, Inc. (NYSE:IRT) ("IRT") announced that today IRT's board of directors declared a quarterly dividend of $0.16 per share of IRT common stock, payable on October 18, 2024 to stockholders of record at the close of business on September 30, 2024. About Independence Realty Trust, Inc. Independence Realty Trust, Inc. (NYSE:IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL. IRT's investment strategy is focused on gaining scale near major employm
Independence Realty Trust, Inc. (NYSE:IRT) ("IRT") today announced that it expects to release its second quarter 2024 financial results after market close on Wednesday, July 31, 2024, and will hold its quarterly results conference call on Thursday, August 1, 2024 at 9:00 a.m. Eastern Time. The live conference call can be accessed from the investor relations section of the IRT website at investors.irtliving.com or by dialing 1.888.440.3307, access code 1963990. A replay of the conference call will be available shortly following the live call on the investor relations section of IRT's website and telephonically until Thursday, August 8, 2024 at 11:59 p.m. Eastern Time by dialing 1.800.770.2
Independence Realty Trust, Inc. (NYSE:IRT) ("IRT") announced that today IRT's board of directors declared a quarterly dividend of $0.16 per share of IRT common stock, payable on July 19, 2024 to stockholders of record at the close of business on June 28, 2024. About Independence Realty Trust, Inc. Independence Realty Trust, Inc. (NYSE:IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL. IRT's investment strategy is focused on gaining scale near major employment ce
Independence Realty Trust, Inc. ("IRT") (NYSE:IRT), a multifamily apartment REIT, today announced its first quarter 2024 financial results. First Quarter Highlights Net income available to common shares of $17.6 million for the quarter ended March 31, 2024 compared to $8.6 million for the quarter ended March 31, 2023. Earnings per diluted share of $0.08 for the quarter ended March 31, 2024 compared to $0.04 for the quarter ended March 31, 2023. Same-store portfolio net operating income ("NOI") growth of 2.4% for the quarter ended March 31, 2024 compared to the quarter ended March 31, 2023. Disposed of nine properties under our Portfolio Optimization and Deleveraging Strategy f
Independence Realty Trust, Inc. (NYSE:IRT) ("IRT") today announced that it expects to release its first quarter 2024 financial results after market close on Wednesday, April 24, 2024, and will hold its quarterly results conference call on Thursday, April 25, 2024 at 9:00 a.m. Eastern Time. The live conference call can be accessed from the investor relations section of the IRT website at investors.irtliving.com or by dialing 1.888.440.3307, access code 1963990. A replay of the conference call will be available shortly following the live call on the investor relations section of IRT's website and telephonically until Thursday, May 2, 2024 at 11:59 p.m. Eastern Time by dialing 1.800.770.2030
Independence Realty Trust, Inc. (NYSE:IRT) ("IRT") announced that today IRT's board of directors declared a quarterly dividend of $0.16 per share of IRT common stock, payable on April 19, 2024 to stockholders of record at the close of business on March 29, 2024. About Independence Realty Trust, Inc. Independence Realty Trust, Inc. (NYSE:IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL. IRT's investment strategy is focused on gaining scale near major employment ce
Introduces Full Year 2024 Guidance Independence Realty Trust, Inc. ("IRT") (NYSE:IRT), a multifamily apartment REIT, today announced its fourth quarter and full year 2023 financial results and provided its full year 2024 guidance. Fourth Quarter Highlights Net loss available to common shares of $40.5 million for the quarter ended December 31, 2023 compared to net income available to common shares of $33.6 million for the quarter ended December 31, 2022. Loss per diluted share of $0.18 for the quarter ended December 31, 2023 compared to earnings per diluted share of $0.15 for the quarter ended December 31, 2022. Same-store portfolio net operating income ("NOI") growth of 3.3% fo
Independence Realty Trust, Inc. ("IRT") (NYSE:IRT) today announced the tax status of 2023 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 Distr. Unrecap- tured Sec. 1250 Gain Section 897 Capital Gain Return of Capital Section 199A 3/31/23 4/21/23 $0.14000 $0.03647 $0.10353 $0.05599 $0.10353 $0.00000 $0.03647 6/30/23 7/21/23 $0.16000 $0.04
Barclays initiated coverage of Independence Realty Trust with a rating of Equal Weight and set a new price target of $23.00
BMO Capital Markets upgraded Independence Realty Trust from Underperform to Market Perform and set a new price target of $21.00 from $19.00 previously
Deutsche Bank initiated coverage of Independence Realty Trust with a rating of Buy and set a new price target of $18.00
BMO Capital Markets downgraded Independence Realty Trust from Market Perform to Underperform and set a new price target of $15.00 from $14.00 previously
BMO Capital Markets downgraded Independence Realty Trust from Outperform to Market Perform and set a new price target of $19.00
JMP Securities upgraded Independence Realty Trust from Mkt Perform to Mkt Outperform and set a new price target of $20.00
JMP Securities initiated coverage of Independence Realty Trust with a rating of Mkt Perform
Deutsche Bank downgraded Independence Realty Trust from Buy to Hold and set a new price target of $19.00 from $22.00 previously
Jefferies downgraded Independence Realty Trust from Buy to Hold and set a new price target of $17.00 from $20.00 previously
Jefferies resumed coverage of Independence Realty Trust with a rating of Buy and set a new price target of $20.00 from $26.00 previously