---
schema_version: "secwatch.filing_event.v1"
accession: "0001466085-23-000119"
form_type: "8-K"
ticker: "IRT"
cik: "0001466085"
company_name: "INDEPENDENCE REALTY TRUST, INC."
filed_at: "2023-10-30T23:59:59+00:00"
generated_at: "2026-06-09T05:48:00.668152+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "medium"
source: SEC EDGAR
---

# IRT Q3 net income falls 76% YoY to $3.9M; plans to sell 10 properties with up to $74M impairments

## Summary
- Net income $3.9M ($0.02 diluted EPS) vs $16.2M ($0.07) YoY; Core FFO rose to $0.30/share from $0.28.
- Same-store NOI grew 4.8% YoY; value-add program delivered 14.2% ROI on 709 units.
- Board approved sale of 10 properties (2,742 units) in Denver, Houston, Chicago, others to reduce leverage.
- Q3 impairment $11.3M on a Chicago property; Q4 estimated impairments of $55M-$63M for nine other targeted properties.
- Full-year 2023 guidance updated; no specific numbers provided in the press release excerpt.

## SEC filing metadata
- accession: 0001466085-23-000119
- form_type: 8-K
- ticker: IRT
- cik: 0001466085
- company_name: INDEPENDENCE REALTY TRUST, INC.
- filed_at: 2023-10-30T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: medium
- sec_items: 2.02, 2.06, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1466085/000146608523000119/0001466085-23-000119-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1466085/000146608523000119/irt-20231026.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001466085-23-000119
- JSON: https://secwatch.observer/filing/0001466085-23-000119.json
- Plain text: https://secwatch.observer/filing/0001466085-23-000119.txt

## Key facts
- Earnings Releases
  INDEPENDENCE REALTY TRUST, INC. reported three and nine months ended September 30, 2023 results: net income Net income available to common shares of $3.9 million for the quarter ended September 30, 2023, EPS Earnings per diluted share of $0.02 for the quarter ended September 30, 2023.
  - Period: three and nine months ended September 30, 2023
  - Net income: Net income available to common shares of $3.9 million for the quarter ended September 30, 2023
  - EPS: Earnings per diluted share of $0.02 for the quarter ended September 30, 2023
  - Result: reported results
  source text: On October 30, 2023, we issued a press release announcing our financial results for the three and nine months ended September 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1466085/000146608523000119/0001466085-23-000119-index.htm
- Restructurings & Charges
  INDEPENDENCE REALTY TRUST, INC. announced a impairment with charges of $11.3 million affecting property in Chicago, Illinois held for sale as of September 30, 2023.
  - Type: impairment
  - Charge: $11.3 million
  - Affected area: property in Chicago, Illinois held for sale as of September 30, 2023
  source text: we have recorded an impairment charge for the third quarter 2023 of $11.3 million related to our property in Chicago, Illinois that was held for sale as of September 30, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1466085/000146608523000119/0001466085-23-000119-index.htm
- Restructurings & Charges
  INDEPENDENCE REALTY TRUST, INC. announced a impairment with charges of ranging between $32 and $38 million affecting six other Targeted Sales Properties.
  - Type: impairment
  - Charge: ranging between $32 and $38 million
  - Affected area: six other Targeted Sales Properties
  source text: we expect to incur impairment charges for certain of these properties in the fourth quarter 2023 ranging between $32 and $38 million, in aggregate
  evidence_url: https://www.sec.gov/Archives/edgar/data/1466085/000146608523000119/0001466085-23-000119-index.htm
- Restructurings & Charges
  INDEPENDENCE REALTY TRUST, INC. announced a impairment with charges of between $23 and $25 million affecting three other Targeted Sales Properties.
  - Type: impairment
  - Charge: between $23 and $25 million
  - Affected area: three other Targeted Sales Properties
  source text: we will be required, under GAAP, to record an impairment charge in the fourth quarter 2023 for three other Targeted Sales Properties and currently estimate the amount of the impairment charge to be between $23 and $25 million, in aggregate
  evidence_url: https://www.sec.gov/Archives/edgar/data/1466085/000146608523000119/0001466085-23-000119-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.