The earnings call presented a balanced view of the company's performance. While there were notable achievements in terms of core FFO growth, successful renovations, and strategic acquisitions, the company faced challenges with rent growth, market conditions, and supply pressures. The revised outlook reflects these challenges, but operational efficiencies and investment strategies provide a positive long-term outlook.

Company Guidance -

Q3 2025

During the Independence Realty Trust Q2 2025 Earnings Conference Call, the company provided detailed guidance and updates on its financial performance and strategic initiatives. Core FFO per share increased to $0.28 in Q2 from $0.27 in Q1. Same-store NOI grew by 2% due to a 1% increase in same-store revenue and a 60 basis point decrease in operating expenses compared to the previous year. The occupancy rate improved by 10 basis points, while average effective monthly rents increased by 90 basis points. Additionally, operating expenses saw a 3% decline in noncontrollable expenses. The company revised its 2025 guidance, with expected full-year same-store revenue growth adjusted to between 1.5% to 1.9% and a marginal increase in NOI growth to 2.1%. The company expects to complete $315 million in acquisitions by the end of the year, including two communities in Orlando for $155 million. The updated outlook also reflects a reduction in new lease growth expectations but anticipates strong retention and renewal rates to drive performance.

Core FFO Per Share Increase

Core FFO per share was $0.28 in the second quarter of 2025, up from $0.27 per share in Q1 of this year.

Same-Store NOI Growth

Same-store NOI grew 2% in the quarter, driven by a 1% increase in same-store revenue and a 60 basis point decrease in operating expenses over the prior year.

Successful Value-Add Renovations

Completed 454 value-add renovations during the quarter and a total of 729 completions for the first 6 months of the year, achieving a weighted average return on investment of 16.2%.

Operating Expense Reduction

Same-store operating expenses decreased 60 basis points over the prior year quarter, driven by lower repair and maintenance costs, real estate taxes, and a reduction in insurance premiums.

Acquisition and Investment Strategy

Under contract to acquire 2 communities in Orlando for an aggregate purchase price of $155 million, with a strong acquisition pipeline and $315 million of acquisitions planned before year-end.

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 Trust (IRT) report earnings?

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

What is Independence Realty Trust (IRT) earnings time?

Independence Realty Trust (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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