INDEPENDENCE REALTY TRUST, INC.

Listed Company

IRTCIK 0001466085NYSELarge AcceleratedReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$657.70M

Net Income

$56.56M

Total Assets

$6.02B

Equity

$3.46B

Shares Out

235.71M

Op. Cash Flow

$282.15M

IRT$16.63−3.79% · past yearDBEQ Basic

Daily closing prices

Business

Independence Realty Trust, Inc. is a self-administered and self-managed REIT that acquires, owns, operates, improves, and manages multifamily apartment properties in non-gateway U.S. markets, primarily in Southeastern and Midwestern states. The company owns and operates 114 multifamily properties containing approximately 33,462 units, with additional development and unconsolidated joint venture interests. IRT's investment strategy focuses on non-gateway markets with strong demand, value-add renovations to drive rental rate growth, disciplined acquisitions in submarkets with limited new construction, and capital recycling through selective asset dispositions. The company also provides in-house property management services through its wholly owned subsidiary, IRT Management, LLC.

Summary from 10-K filed 2026-02-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Rental and other property revenue	656	639	660	—	—
Other revenue	1	1	1	1	760,000
Total revenue	658	640	661	629	250
Property operating expenses	239	236	244	—	—
Property management expenses	30	30	27	24	10
General and administrative expenses	24	24	23	26	19
Depreciation and amortization expense	243	221	219	253	77
Casualty losses	1	4	925,000	—	—
Total expenses	538	515	514	527	199
Interest expense	−79	−76	−90	−87	—
Gain on sale (loss on impairment) of real estate assets, net	6	−10	−67	112	88
(Loss) gain on extinguishment of debt	−67,000	200,000	−124,000	0	−10
Other Nonoperating Income (Expense)	−352,000	−1,000	−427,000	2	0
Income (loss) from investments in unconsolidated real estate entities	11	347,000	−4	−2	0
Restructuring costs	0	0	−3	—	—
Net income (loss)	58	40	−18	121	46
(Income) loss allocated to noncontrolling interest	−1	−742,000	580,000	−3	−940,000
Net income (loss) allocable to common shares	57	39	−17	117	45
Basic (in dollars per share)	0.24	0.17	−0.08	0.53	0.41
Diluted (in dollars per share)	0.24	0.17	−0.08	0.53	0.41
Basic (in shares)	234	225	224	222	109
Diluted (in shares)	235	226	224	223	110

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Investments in real estate, at cost	6,596	6,364	—	—	—
Accumulated depreciation	−915	−741	—	—	—
Investments in real estate, net	5,681	5,623	—	—	—
Real estate, held for sale	76	110	296	36	62
Investments in real estate under development	60	117	—	—	—
Cash and cash equivalents	24	21	23	16	36
Restricted Cash	24	22	28	—	—
Investments in unconsolidated real estate entities	98	92	—	—	—
Other Assets	46	40	39	35	38
Derivative assets	10	29	30	41	2
Intangible assets, net of accumulated amortization of $3,257 and $1,305, respectively	3	4	66,000	399,000	53
Total Assets	6,022	6,058	6,280	6,532	6,507
Accounts payable and accrued expenses	92	95	—	—	—
Accrued interest payable	8	9	8	8	7
Dividends payable	41	38	37	32	17
Derivative liabilities	346,000	0	—	0	12
Other Liabilities	8	8	10	13	17
Total Liabilities	2,432	2,483	2,713	2,794	2,865
Preferred stock, $0.01 par value; 50,000,000 shares authorized, 0 and 0 shares issued and outstanding, respectively	0	0	0	0	0
Common stock, $0.01 par value; 500,000,000 shares authorized, 237,234,750 and 230,838,006 shares issued and outstanding, including 382,337 and 360,561 unvested restricted common share awards, respectively	2	2	2	2	2
Additional paid-in capital	4,005	3,868	—	—	—
Accumulated other comprehensive income	8	26	26	35	−12
Accumulated deficit	−555	−454	−348	−192	−188
Total stockholders equity	3,460	3,442	3,431	3,597	3,481
Noncontrolling interests	129	133	136	141	161
Total Equity	3,589	3,575	3,567	3,738	3,642
Total Liabilities and Equity	6,022	6,058	6,280	6,532	6,507

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	243	221	219	—	—
Accretion of loan discounts and premiums, net	−8	−9	−11	−11	−501,000
Amortization of deferred financing costs, net	4	3	3	4	2
Stock compensation expense	8	7	8	8	7
Amortization related to derivative instruments	986,000	1	1	—	—
Non-cash casualty losses	589,000	3	925,000	—	—
Other non-cash loss	103,000	1,000	1	−1	0
Other assets	−8	−8	−8	−33,000	−523,000
Accounts payable and accrued expenses	2	−7	−3	−2	−4
Accrued interest payable	−253,000	713,000	−79,000	538,000	2
Other liabilities	−1	−1	−2	−4	−699,000
Net cash provided by operating activities	282	260	262	250	52
Acquisition of real estate properties	−153	−239	0	−202	−140
Escrow deposits for pending real estate acquisitions	−590,000	0	0	—	—
Cash acquired from consolidation of previously unconsolidated real estate entity	0	0	2	0	0
Investments in unconsolidated real estate entities	−36	−12	−26	—	—
Return of investment in unconsolidated real estate entities	41	9	0	3	0
Proceeds from dispositions of real estate properties, net	158	391	231	254	177
Capital expenditures	−136	−118	−147	—	—
Real estate development expenditures	−18	−57	−66	−62	0
Proceeds from insurance claims	2	5	4	16	0
Net cash used in investing activities	−143	−21	−2	−136	−216
Proceeds (costs) from issuance of common stock, net	162	111	−421,000	—	—
Proceeds from unsecured revolver and term loan	480	450	270	708	595
Proceeds from unsecured notes	0	150	0	0	—
Unsecured revolver and secured credit facility repayments	−478	−491	−250	—	—
Mortgage principal repayments and payoffs	−101	−314	−130	−53	−313
Payment for deferred financing costs	−6	−2	−60,000	—	—
Distributions on common stock	−154	−144	−135	−106	−50
Distributions to noncontrolling interests	−4	−4	−4	−3	−294,000
Payment for debt extinguishment	0	−666,000	−124,000	—	—
Repurchase of shares related to equity award tax withholding	−3	−3	−5	−6	−3
Repurchase of common stock, including repurchase costs	−30	0	0	—	—
Net cash used in financing activities	−135	−246	−254	−135	216
Net change in cash, cash equivalents, and restricted cash	4	−7	7	−22	52
Cash paid for interest	83	81	96	96	29
Decrease in noncontrolling interest from conversion of common limited partnership units to shares of common stock	0	33,000	1	21	858,000
Distributions declared but not paid	41	38	37	32	17
Real estate under development placed in service	68	34	78	0	0
Initial measurement of operating lease right of use assets	1	0	0	753,000	672,000
Initial measurement of operating lease liabilities	1	0	0	753,000	672,000
Accrued capital expenditures and real estate under development	6	12	20	19	5
Assets recognized upon consolidation of previously unconsolidated real estate entity	0	0	53	0	0
Liabilities recognized upon consolidation of previously unconsolidated real estate entity	0	0	40	0	0
Derecognition of equity method investment upon consolidation of previously unconsolidated real estate entity	0	0	13	0	0
Value of non-controlling interest upon consolidation of previously unconsolidated real estate entity	0	0	256,000	0	0
Assumption of mortgage notes payable to acquire real estate	60	0	0	—	—
Assets acquired from loan assumption	924,000	0	0	—	—
Preferred return on unconsolidated real estate entity	31,000	0	0	—	—

Filings

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Frequently asked questions

What is INDEPENDENCE REALTY TRUST, INC.'s CIK number?

INDEPENDENCE REALTY TRUST, INC.'s SEC CIK number is 0001466085 (1466085). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find INDEPENDENCE REALTY TRUST, INC.'s SEC filings?

All of INDEPENDENCE REALTY TRUST, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did INDEPENDENCE REALTY TRUST, INC. last report earnings?

INDEPENDENCE REALTY TRUST, INC. (IRT) most recently filed an earnings 8-K with the SEC on Apr 29, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001437749-26-013863). This is INDEPENDENCE REALTY TRUST, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is INDEPENDENCE REALTY TRUST, INC.'s most recent earnings 8-K?

INDEPENDENCE REALTY TRUST, INC.'s latest earnings 8-K (Item 2.02) was filed Apr 29, 2026 under accession 0001437749-26-013863. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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