The earnings call highlighted effective cost management and strategic acquisitions as major positives, but was tempered by revenue growth challenges and market-specific pressures. The company is poised for future improvements with a robust acquisition pipeline and a favorable supply outlook. However, current market conditions have resulted in downward revisions to revenue expectations.

Company Guidance -

Q3 2025

During the Independence Realty Trust Q2 2025 earnings call, several key metrics and guidance updates were discussed. Same-store NOI grew by 2% in the quarter, driven by a 1% increase in same-store revenue and a 60 basis point decrease in operating expenses compared to the prior year. Average occupancy increased by 10 basis points, while average effective monthly rents saw a 90 basis point rise, and bad debt improved by 20 basis points. The company completed 454 value-add renovations in the quarter, achieving a 16.2% return on investment. For the full year 2025, same-store revenue growth is expected to be between 1.5% to 1.9%, with a revised core FFO per share midpoint remaining at $1.175. The updated outlook includes a 90 basis point reduction in revenue growth but is offset by a 245 basis point improvement in total operating expenses. Acquisitions are anticipated to total $315 million before year-end, supported by ample liquidity and capital recycling initiatives. The acquisition pipeline includes two communities in Orlando, expected to close in the third quarter for a combined $155 million, with a blended economic cap rate of 5.9%.

Strong Operating Expense Management

Same-store operating expenses decreased by 60 basis points from the prior year quarter due to lower repair and maintenance costs, lower real estate taxes, and a reduction in insurance premiums, fully offsetting softer revenue growth.

Value-Add Renovations and ROI

Completed 454 value-add renovations during the quarter, achieving a weighted average return on investment of 16.2%.

Successful Capital Recycling Strategy

Identified three assets for sale and under contract to acquire two new communities in Orlando for $155 million, with expectations of meaningful operating synergies.

Positive Acquisition Pipeline

Updated guidance implies an additional $315 million of acquisitions before year-end, supported by strong liquidity and leverage-neutral funding.

Improved Supply Outlook

Expecting a 43% reduction in supply growth by 2026 compared to 2024, setting up a stronger leasing environment.

Independence Realty (IRT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

IRT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 22, 2025	2025 (Q3)	0.08 / -	0.05	―	―	―
Jul 31, 2025	2025 (Q2)	0.04 / 0.03	0.05	-40.00% (-0.02)	―
Apr 30, 2025	2025 (Q1)	0.04 / 0.04	0.08	-50.00% (-0.04)	―
Feb 12, 2025	2024 (Q4)	0.06 / 0.00	-0.18	―	―
Oct 30, 2024	2024 (Q3)	0.09 / 0.05	0.02	150.00% (+0.03)	―
Jul 31, 2024	2024 (Q2)	0.06 / 0.05	0.05	0.00% (0.00)	―
Apr 24, 2024	2024 (Q1)	0.08 / 0.08	0.04	100.00% (+0.04)	―
Feb 14, 2024	2023 (Q4)	0.07 / -0.18	0.15	-220.00% (-0.33)	―
Oct 30, 2023	2023 (Q3)	0.07 / 0.02	0.07	-71.43% (-0.05)	―
Jul 26, 2023	2023 (Q2)	0.05 / 0.05	-0.03	266.67% (+0.08)	―

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

IRT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	$16.77	$16.76	-0.06%
Apr 30, 2025	$19.24	$18.98	-1.35%
Feb 12, 2025	$19.73	$20.17	+2.23%
Oct 30, 2024	$19.26	$19.13	-0.67%

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.

FAQ

When does Independence Realty (IRT) report earnings?

Independence Realty (IRT) is schdueled to report earning on Oct 22, 2025, Before Open (Confirmed).

What is Independence Realty (IRT) earnings time?

Independence Realty (IRT) earnings time is at Oct 22, 2025, Before Open (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 (Q3) is 0.08.

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