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. 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.
Independence Realty Trust, Inc. Declares Dividend for the Months Ended October 2015, November 2015 and December 2015, Payable on November 16, 2015, December 15, 2015 and January 15, 2016 Respectively
Oct 19 15
Independence Realty Trust, Inc. announced that, on October 19, 2015, the company’s Board of Directors declared monthly cash dividends for the fourth quarter of 2015 on the company’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 fourth quarter. The company announced cash dividend of $0.06 per share for the month of October 2015, November 2015 and December 2015, payable on November 16, 2015, December 15, 2015 and January 15, 2016 respectively to the recorded shareholders on October 30, 2015, November 30, 2015 and December 31, 2015 respectively.