The earnings call reflects a mixed outlook for Independence Realty Trust. While the company reported strong same-store NOI growth and successful asset transactions, challenges such as flat Core FFO per share and negative new lease rates indicate areas of concern. Supply pressures in certain markets also pose a risk. However, the strong acquisition pipeline and improved financial liquidity provide a positive counterbalance.

Company Guidance -

Q2 2025

In the first quarter of 2025, Independence Realty Trust (IRT) reported a 2.7% growth in same-store net operating income (NOI), driven by a 100-basis-point increase in average occupancy and a rise in average effective rents compared to the first quarter of the previous year. The company achieved a core funds from operations (FFO) per share of $0.27, flat year-over-year, despite ongoing portfolio optimization efforts. IRT successfully completed 275 value-add unit renovations, yielding an average return on investment (ROI) of 16.2%, and plans to renovate between 2,500 and 3,000 units by year-end. The company exited the Birmingham market with a $111 million asset sale and expanded in Indianapolis with a $59.5 million acquisition at a 5.6% economic cap rate. Additionally, IRT initiated a joint venture in Charleston, South Carolina, to develop 324 units. The company anticipates positive net absorption of 8.5% in its submarkets in 2025, bolstered by a decrease in new apartment deliveries, strong population growth, and favorable homeownership affordability factors, while maintaining a stable resident rent-to-income ratio of approximately 21%.

Solid Same-Store NOI Growth

Independence Realty Trust delivered 2.7% same-store NOI growth driven by a 100-basis-point increase in average occupancy and an increase in average effective rent year-over-year.

Successful Asset Transactions

The company sold its final asset in Birmingham, Alabama for $111 million, completing its exit from that market, and expanded in Indianapolis by purchasing a 280-unit community for $59.5 million.

Strong Acquisition Pipeline

IRT is under contract on two additional communities with a combined purchase price of approximately $155 million, with expected economic cap rates in the high 5s during year one.

Improved Financial Liquidity

IRT has nearly $750 million of liquidity to fund accretive investments and entered into a new $100 million SOFR swap, resulting in 100% of its debt being fixed and/or hedged.

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
Jul 30, 2025	2025 (Q2)	0.04 / -	0.05	―	―	―
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)	―
Apr 26, 2023	2023 (Q1)	0.05 / 0.04	0.34	-88.24% (-0.30)	―

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
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%
Jul 31, 2024	$18.04	$18.56	+2.88%

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 Jul 30, 2025, Before Open (Confirmed).

What is Independence Realty (IRT) earnings time?

Independence Realty (IRT) earnings time is at Jul 30, 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 (Q2) is 0.04.

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