Independence Realty Trust Inc
IRT
ISIN US45378A1060 / Valor 21423892
Independence Realty Trust Inc
UMushroom community rating:
About company
Independence Realty Trust Inc (NYSE: IRT) is a real estate investment trust specializing in multifamily apartment properties in non-gateway U.S. markets such as Atlanta, Louisville, Memphis, and Raleigh. The company's investment strategy focuses on acquiring properties in key amenity-rich submarkets with good school districts, high-quality retail, and major employment centers. Independence Realty Trust aims to provide stockholders with attractive risk-adjusted returns through diligent portfolio management, strong operational performance, and consistent distribution of capital.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (20.08.2024):
Net Income
Independence Realty Trust Inc. reported a net income available to common shares of $17.6 million for the first quarter of 2024, a significant increase from $8.6 million in the first quarter of 2023. This improvement reflects the company's successful execution of its strategic initiatives.
Earnings Per Share
The earnings per diluted share for Independence Realty Trust Inc. in the first quarter of 2024 were $0.08, doubling from $0.04 in the same period of the previous year. This growth indicates enhanced profitability and operational efficiency.
Core Funds from Operations
Independence Realty Trust Inc. reported Core Funds from Operations (CFFO) of $61.5 million for the first quarter of 2024, compared to $62.5 million in the first quarter of 2023. The CFFO per share remained steady at $0.27 for both periods, demonstrating consistent financial performance.
Debt Repayment and Liquidity
During the first quarter of 2024, Independence Realty Trust Inc. disposed of nine properties for a total gross sales price of $496.8 million. The proceeds were used to repay $488.9 million of debt, significantly improving the company's liquidity position to $412 million as of March 31, 2024.
Dividend Distribution
Independence Realty Trust Inc. declared a quarterly dividend of $0.16 per share of common stock on March 11, 2024. The dividend was paid on April 19, 2024, to stockholders of record at the close of business on March 29, 2024, reflecting the company's commitment to returning value to its shareholders.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
4574 M
Market cap (USD)
200,045
Daily traded volume (Shares)
20.345 / 20.1
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
Est P/E ratio
EPS (USD)
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Ratings & reviews
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