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Independence Realty (IRT)
NYSE:IRT
Earnings Data
Report Date
Apr 23, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.04Last Year’s EPS
0.08Same Quarter Last Year
Moderate Buy
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 12, 2025
|% Change Since: 4.63%
|Next Earnings Date:Apr 23, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial performance with significant achievements in FFO growth, occupancy rates, and strategic acquisitions. While there are challenges related to supply pressures in specific markets and declining new lease rates, the overall outlook remains positive with strategic initiatives in place to drive future growth.Company Guidance
During the Independence Realty Trust Q4 earnings call, guidance for 2025 highlighted expectations for core FFO per share to range between $1.16 and $1.19, driven by same-store NOI growth of 2.1% at the midpoint. The company plans to renovate 2,500 to 3,000 units, aiming for a 1.6% blended rental rate growth, with the majority occurring in the second half of the year. Investment plans include acquiring approximately $240 million in properties, supported by nearly three-quarters of a billion dollars in liquidity. The company also aims to further reduce its net debt to adjusted EBITDA ratio to the mid-5s by year-end, enhancing financial flexibility and capitalizing on a forecasted decline in new supply and strong demand fundamentals in their markets.Strong Core FFO Growth
Core FFO per share for 2024 was $1.16, at the high end of guidance, driven by solid same-store NOI growth of 3.2%.
High Occupancy and Rent Growth
Same-store average occupancy increased by 110 basis points to 95.2%, with a 1.3% increase in average effective rental rates.
Successful Value-Add Program
Completed 1,671 renovations, driving a $239 average increase in monthly rent per unit and a 15% return on investment.
Investment-Grade Rating Achievement
Achieved triple B flat rating with a stable outlook from both S&P and Fitch, improving financial flexibility and reducing cost of debt.
Strategic Acquisitions
Invested $240 million at a blended economic cap rate of 5.7% in high-growth markets, expanding presence in Charlotte, Tampa, and Indianapolis.
Improved Debt Metrics
Reduced net debt to adjusted EBITDA nearly a full turn to 5.9 times, with plans to further improve this ratio in 2025.
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IRT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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IRT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 12, 2025 | $20.07 | $20.52 | +2.24% |
| Oct 30, 2024 | $19.60 | $19.46 | -0.71% |
| Jul 31, 2024 | $18.35 | $18.89 | +2.94% |
| Apr 24, 2024 | $15.38 | $15.28 | -0.65% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Independence Realty (IRT) report earnings?
Independence Realty (IRT) is schdueled to report earning on Apr 23, 2025, TBA Not Confirmed.
What is Independence Realty (IRT) earnings time?
Independence Realty (IRT) earnings time is at Apr 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IRT EPS forecast?
IRT EPS forecast for the fiscal quarter 2025 (Q1) is 0.04.
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