Independence Realty Trust Director Gebert Sells 500 Shares at $16.9/Share on August 1, 2023.

Independence Realty Trust, Inc. (IRT) has announced that Director Gebert Richard D has sold 500 shares at a price of $16.9 per share on August 1, 2025.

Independence Realty Trust, Inc. (IRT) has reported its second quarter 2025 financial results, highlighting a 2.0% increase in same-store net operating income (NOI) and a core funds from operations (CFFO) per share of $0.28. The company also announced that Director Gebert Richard D sold 500 shares at a price of $16.9 per share on August 1, 2025 [1].

The company's second quarter net income available to common shares was $8.0 million, compared to $10.4 million in the same period last year. Earnings per diluted share (EPS) were $0.03, down from $0.05 in the same period last year. The CFFO per share remained unchanged at $0.28 [1].

The company's same-store portfolio NOI grew by 2.0%, driven by stable occupancy rates and rental rate growth. The portfolio's average occupancy rate increased by 10 basis points to 95.3%, while the average rental rate increased by 0.9% to $1,575. The NOI margin also improved by 60 basis points to 62.4% [1].

IRT completed 454 renovations as part of its value-add program during the quarter, achieving an average return on investment of 16.2%. The company also announced plans to acquire two communities in Orlando, FL, for an aggregate purchase price of approximately $155 million. These acquisitions are expected to close during the third quarter of 2025 [1].

In addition, the company identified three communities for disposition in the second half of 2025 as part of its capital recycling program. The company's balance sheet remains strong, with a net debt to Adjusted EBITDA ratio of 6.3x and ample liquidity to fund growth [1].

The company's quarterly dividend was increased to $0.17 per share, a 6.3% increase over the prior quarterly rate. The second quarter dividend was paid on July 18, 2025 [1].

References:
[1] https://investors.irtliving.com/press-releases/press-release/2025/Independence-Realty-Trust-Announces-Second-Quarter-2025-Financial-Results/default.aspx