Independence Realty Trust: Poised To Outperform Thanks To Low Leverage And Improving Occupancy [Seeking Alpha]
Independence Realty Trust, Inc. (IRT)
NASDAQ:AMEX Investor Relations:
irtliving.com/page.aspx/contentid/7/investor-relations
Company Research
Source: Seeking Alpha
Net debt accounts for just 38% of enterprise value, with the company largely completing its non-core disposal program. Weighted average cost of debt is only 4.2% thanks to hedging, with limited maturities until 2028. Underlying property-level growth is in the low single digits, which coupled with a 6.8% market cap rate offers a high single-digit return on enterprise value. Occupancy improved by 0.9% Y/Y to 95% at the end of Q1 2024, with further improvements key to strengthen the company's negotiating position with tenants. Introduction Independence Realty Trust ( NYSE: IRT ) is one of the few REITs to deliver a positive return in 2024, easily outperforming the Vanguard Real Estate Index Fund ETF ( VNQ Looking at the Recommended For You Recommended For You
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News
- Independence Realty Trust, Inc. (NYSE:IRT) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Independence Realty Trust Announces First Quarter 2024 Financial Results [Yahoo! Finance]Yahoo! Finance
- Independence Realty Trust Announces First Quarter 2024 Financial ResultsBusiness Wire
- Independence Realty Trust Announces First Quarter 2024 Earnings Release and Conference Call DatesBusiness Wire
- Camden Property Trust, Sachem Capital among real estate movers [Seeking Alpha]Seeking Alpha
IRT
Earnings
- 4/24/24 - Miss
IRT
Sec Filings
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- IRT's page on the SEC website