IRT Q2 net income $10.7M vs loss; raises FY2023 EPS and Core FFO guidance

INDEPENDENCE REALTY TRUST, INC.

2023-Q2 EPS reported $0.09 revenue$325,330,000

Net income available to common shares of $10.7M ($0.05 diluted EPS) vs $(7.2M) loss ($(0.03) EPS) YoY.
Core FFO of $63.7M ($0.28/share) vs $58.6M ($0.26) YoY; same-store NOI grew 6.3%.
Adjusted EBITDA $89.2M vs $83.2M YoY; value-add renovations at 625 units with 16.2% ROI.
Increased midpoint of full year 2023 EPS and Core FFO guidance ranges.

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 0.9

INDEPENDENCE REALTY TRUST, INC. reported three and six months ended June 30, 2023 results: net income Net income (loss) available to common shares of $10.7 million for the quarter ended June 30, 2023, EPS Earnings (loss) per diluted share of $0.05 for the quarter ended June 30, 2023. Guidance raised.

Period: three and six months ended June 30, 2023
Net income: Net income (loss) available to common shares of $10.7 million for the quarter ended June 30, 2023
EPS: Earnings (loss) per diluted share of $0.05 for the quarter ended June 30, 2023
Guidance: raised
Result: reported results

Exact text from the filing

On July 26, 2023, IRT issued a press release regarding its earnings for the three and six months ended June 30, 2023.

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INDEPENDENCE REALTY TRUST, INC. filing history →

Source: SEC EDGAR

accession 0001466085-23-000099

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