Real Estate Investment Trusts (REITs)
Company Overview of Independence Realty Trust, Inc.
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
Key Executives for Independence Realty Trust, Inc.
Chairman and Chief Executive Officer
Chief Financial Officer and Treasurer
Compensation as of Fiscal Year 2015.
Independence Realty Trust, Inc. Key Developments
Independence Realty Trust Inc Declares Monthly Common Stock Dividends for April, May and June Payable on May 16, 2015, June 15, 2016 and July 15, 2016 Respectively
Apr 14 16
Independence Realty Trust, Inc. announced that its Board of Directors declared monthly cash dividends for the second quarter of 2016 on its shares of common stock in the amount of $0.06 per share per month. The monthly dividends total $0.18 per share for the second quarter. The dividends will be paid on May 16, 2015, June 15, 2016 and July 15, 2016 to all shareholders of record on April 29, 2016, May 31, 2016 and June 30, 2016.
Independence Realty Trust, Inc. Announces Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Provides Earnings Guidance for the Year 2016
Feb 18 16
Independence Realty Trust, Inc. announced unaudited earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company's total revenue was $39.7 million compared with $16.3 million a year ago. Net operating income was $22.3 million compared with $8.7 million a year ago. Adjusted EBITDA was $19.7 million compared with $7.7 million a year ago. Net income available to common share was $4.1 million or $0.09 per diluted share compared with $0.19 million or $0.01 per diluted share a year ago. FFO diluted per share was $0.19 compared with $0.14 a year ago. CFFO diluted per share was $0.22 compared with $0.17 a year ago. Funds from operations were $9.6 million compared with $4.0 million a year ago. Core funds from operations were $10.8 million compared with $4.8 million a year ago. Recurring capital expenditures for the total portfolio was $1.6 million, or $118 per unit.
For the year, the company's net income was $30.2 million compared with $2.9 million a year ago. Diluted EPS was $0.78 for the year as compared to $0.14 for the year-ended December 31, 2014. Funds from operations were $51.8 million compared with $15.5 million a year ago. FFO diluted per share was $1.37 compared with $0.72 a year ago. Core funds from operations were $30.3 million compared with $14.98 million a year ago. CFFO diluted per share was $0.80 compared with $0.70 a year ago. Adjusted EBITDA was $51.8 million compared with $22.9 million a year ago. Recurring capital expenditures for the total portfolio was $5.1 million, or $472 per unit.
The company estimates that its 2016 full year CFFO per diluted share will be in a range of $0.82-$0.88 per common share. The company expects net income available to common shares in the range of $0.34-$0.39.
Independence Realty Trust May Sell Assets
Feb 18 16
Scott Schaeffer, Chief Executive Officer of Independence Realty Trust, Inc. (AMEX:IRT) said, "we are going to continue to run the portfolio, increase rents, grow NOI and we will be looking at alternatives to create shareholder value in the future. And if it means selling off assets then that's what we'll do."
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