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Irish Residential Properties REIT ( (GB:0QT8) ) has issued an update.
For the year ended December 31, 2024, I-RES reported an increase in adjusted earnings by 8.7% to €30.5 million, driven by its asset recycling program which yielded strong sales premiums. The company plans to return excess capital through a share buyback of up to €5 million, reflecting its strategic focus on enhancing shareholder returns. Despite a slight decline in net rental income due to asset disposals, I-RES maintained effective occupancy at 99.4% and stable yields in the second half of the year. The firm also completed a strategic exit from the Cork market, emphasizing its operational focus on Dublin. Looking forward, I-RES is positioned to leverage long-term demand for rental accommodation and aims to continue growth through strategic initiatives and cost reduction measures.
More about Irish Residential Properties REIT
Irish Residential Properties REIT plc (I-RES) is a leading provider of rental homes in Ireland, specializing in high-quality residential properties, primarily in the Dublin area. The company focuses on maximizing shareholder value through strategic asset recycling, portfolio optimization, and engaging with government on rental regulations.
YTD Price Performance: 9.45%
Average Trading Volume: 36,855
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €526.9M
See more insights into 0QT8 stock on TipRanks’ Stock Analysis page.
