Independence Realty Trust (IRT) Reports In-Line Q2 EPS

Independence Realty Trust (NYSE: IRT) reported Q2 EPS of $0.03, in-line with the analyst estimate of $0.03.

• Net income available to common shares of $3.4 million for the quarter ended June 30, 2021 compared to a net income of $0.8 million for the quarter ended June 30, 2020.
• Earnings per diluted share of $0.03 for the quarter ended June 30, 2021 compared to $0.01 for the quarter ended June 30, 2020.
• Same store net operating income (“NOI”) growth of 9.6% for the quarter ended June 30, 2021 compared to the quarter ended June 30, 2020.
• Core Funds from Operations (“CFFO”) of $20.2 million for the quarter ended June 30, 2021 compared to $16.4 million for the quarter ended June 30, 2020. CFFO per share was $0.20 for the second quarter of 2021, as compared to $0.17 for the second quarter of 2020.
• Adjusted EBITDA of $28.7 million for the quarter ended June 30, 2021 compared to $25.6 million for the quarter ended June 30, 2020.
• Collected 98.4% of rents billed during the quarter ended June 30, 2021.
• Company increases fiscal year 2021 same store NOI and CFFO guidance targets.

For earnings history and earnings-related data on Independence Realty Trust (IRT) click here.

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