Independence Realty Trust, Inc is an equity real estate investment trust launched by RAIT Financial Trust. It is managed by Independence Realty Advisors, LLC. The fund invests in the real estate markets of the United States. It makes investments in apartment properties to create its portfolio. Independence Realty Trust, Inc was formed on March 26, 2009 and is domiciled in the United States.
2929 Arch Street
Philadelphia, PA 19104
Founded in 2009
Independence Realty Trust, Inc. Declares Cash Dividend for the Month of January, February and March 2016, Payable on February 16, 2016, March 15, 2016 and April 15, 2016 Respectively
Jan 14 16
Independence Realty Trust, Inc. announced that, on January 14, 2016, IRT’s Board of Directors declared monthly cash dividends for the first quarter of 2016 on IRT’s shares of common stock in the amount of $0.06 per share per month. The monthly dividends total $0.18 per share for the first quarter. The company announced cash dividend of $0.06 per share for the month of January 2016, February 2016 and March 2016, payable on February 16, 2016, March 15, 2016 and April 15, 2016 respectively to the recorded shareholders on January 29, 2016, February 29, 2016 and March 31, 2016 respectively.
Independence Realty Trust, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015
Oct 30 15
Independence Realty Trust, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported total revenue of $25,492,000 compared to $13,049,000 a year ago. Operating income was $13,547,000 compared to $6,905,000 a year ago. Adjusted EBITDA was $11,742,000 compared to $6,212,000 a year ago. Net income attributable to common stock was $24,015,000 compared to net loss allocable to common stock of $56,000 a year ago. Earnings per share-diluted was $0.68. Funds from operations was $30,340,000 or $0.86 per share compared to $3,253,000 or $0.14 per share a year ago. Core funds from operations was $7,004,000 or $0.20 per share compared to $4,039,000 or $0.17 per share a year ago. Recurring capital expenditures for the total portfolio was $1.5 million, or $140 per unit.
For the nine months, the company reported total Net income attributable to common stock was $24,119,000 compared to $2,751,000 a year ago. Same-store net operating income was $10,260,000 compared to $9,735,000 a year ago. Adjusted EBITDA was $32,111,000 compared to $15,230,000 a year ago. EPS was $0.71 for the nine-months ended September 30, 2015 as compared to $0.14 for the nine-months ended September 30, 2014. Funds from operations were $42,210,000 or $1.25 per share compared to $11,415,000 or $0.60 per share a year ago. Core funds from operations was $19,392,000 or $0.57 per share compared to $10,079,000 or $0.53 per share a year ago. Recurring capital expenditures for the total portfolio was $3.4 million, or $354 per unit.
Independence Realty Mulls Acquisitions
Oct 30 15
Independence Realty Trust, Inc. (AMEX:IRT) intends to pursue acquisitions. "There is about $17 million of cash that we have available that we could invest into further acquisitions. But as we continue to monitor the capital markets in the Company what we're going to do is what's best either to use that to retire debt, possibly buy back shares in the future if they remain at current levels or continue with acquisitions," said, Scott Schaeffer, Chairman and Chief Executive Officer.