IRT reports Q1 net income $8.6M, down 88% YoY; same-store NOI up 8.2%

INDEPENDENCE REALTY TRUST, INC.

2023-Q1 EPS reported $0.04 revenue$161,374,000

Net income available to common shares $8.6M ($0.04 diluted EPS) vs $74.6M ($0.34) YoY.
Same-store portfolio NOI growth of 8.2% year-over-year.
Core FFO of $62.5M ($0.27 per share) vs $57.7M ($0.25) in Q1 2022.
Adjusted EBITDA $87.6M, up from $81.4M in prior year quarter.
Value add program completed 635 unit renovations with 17.8% weighted average ROI.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

INDEPENDENCE REALTY TRUST, INC. reported three months ended March 31, 2023 results: net income $8.6 million, EPS $0.04.

Period: three months ended March 31, 2023
Net income: $8.6 million
EPS: $0.04
Result: reported results

Exact text from the filing

First Quarter Highlights • Net income available to common shares of $8.6 million for the quarter ended March 31, 2023 compared to $74.6 million for the quarter ended March 31, 2022. • Earnings per diluted share of $0.04 for the quarter ended March 31, 2023 compared to $0.34 for the quarter ended March 31, 2022.

View on SEC.gov

Browse all earnings releases →

INDEPENDENCE REALTY TRUST, INC. filing history →

Source: SEC EDGAR

accession 0001466085-23-000063

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.