Independence Realty Trust Announces Fourth Quarter and Full Year 2025 Financial Results

About this update from Independence Realty Trust, Inc.

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("IRT") (NYSE: IRT), a multifamily apartment REIT, announces its fourth quarter and full year 2025 financial results.","length":209,"tagName":"p"},{"type":"text","content":" EPS of $0.24 for Full Year 2025 ","length":31,"tagName":"p","attribs":{}},{"type":"text","content":" CFFO Per Share of $0.32 for Fourth Quarter and $1.17 for Full Year 2025 In Line with Expectations ","length":97,"tagName":"p","attribs":{}},{"type":"text","content":" Same-Store Portfolio NOI Growth of 1.8% and 2.4% for the Fourth Quarter and Full Year 2025 Driven by 2.0% and 1.7% Same-Store Revenue Growth in the Fourth Quarter and Full Year ","length":176,"tagName":"p","attribs":{}},{"type":"text","content":" 95.6% Same Store Portfolio Occupancy at End of Fourth Quarter 95.4% Average Occupancy for the Full Year, a 30 Basis Point Increase Over 2024 ","length":140,"tagName":"p","attribs":{}},{"type":"text","content":" 61.4% Resident Retention Rate in Fourth Quarter and 59.8% for the Full Year 2025 ","length":80,"tagName":"p","attribs":{}},{"type":"text","content":" Completed 2,003 Renovations in Value Add Program for the Full Year 2025 Achieved Average ROI of 15.3% During the Year ","length":117,"tagName":"p","attribs":{}},{"type":"text","content":" Balance Sheet Remains Strong Conservative Leverage and Ample Liquidity to Fund Growth Net Debt to Adjusted EBITDA of 5.7x at Year End Repurchased 1.9 Million Shares of Our Common Stock for $30.0 Million 2026 and 2027 Maturities Refinanced with New Unsecured Term Loan in February 2026 ","length":284,"tagName":"p","attribs":{}},{"type":"text","content":" Management Commentary ","length":21,"tagName":"p"},{"type":"text","content":""Our solid full year 2025 results were in line with expectations" said Scott Schaeffer, Chairman and CEO of IRT. "With supply pressure receding, we expect stable occupancy and stronger leasing rates. That combined with our continued focus toward managing expenses will allow us drive growth in same-store results in 2026. Additionally, our new term loan satisfies all debt maturities through the end of 2027 and increases our number of unencumbered assets."","length":477,"tagName":"p"},{"type":"text","content":" Fourth Quarter Summary ","length":22,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net income available to common shares of $33.3 million for the quarter ended December 31, 2025 compared to net loss available to common shares of $1.0 million for the quarter ended December 31, 2024. Earnings per diluted share ("EPS") of $0.14 for the quarter ended December 31, 2025 compared to $0.00 for the quarter ended December 31, 2024.","length":352,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Same-store portfolio NOI growth of 1.8% for the quarter ended December 31, 2025 compared to the quarter ended December 31, 2024.","length":128,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Core Funds from Operations ("CFFO") of $78.9 million for the quarter ended December 31, 2025 compared to $75.0 million for the quarter ended December 31, 2024. CFFO per share was $0.32 for the fourth quarter of 2025 and for the fourth quarter of 2024.","length":261,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Adjusted EBITDA of $98.5 million for the quarter ended December 31, 2025 compared to $94.5 million for the quarter ended December 31, 2024.","length":139,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Value Add program completed renovations of 486 units during the quarter ended December 31, 2025, achieving a weighted average return on investment during the quarter of 15.1%.","length":175,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":1055,"olType":false},{"type":"readMore"},{"type":"text","content":" Full Year Summary ","length":17,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net income available to common shares of $56.6 million for the year ended December 31, 2025 compared to $39.3 million for the year ended December 31, 2024. EPS of $0.24 for the year ended December 31, 2025 compared to $0.17 for the year ended December 31, 2024.","length":261,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Same-store portfolio NOI growth of 2.4% for the year ended December 31, 2025 compared to the year ended December 31, 2024.","length":122,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"CFFO of $279.8 million for the year ended December 31, 2025 compared to $266.9 million for the year ended December 31, 2024. CFFO per share was $1.17 for the year ended December 31, 2025, as compared to $1.16 for the year ended December 31, 2024.","length":246,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Adjusted EBITDA of $364.5 million for the year ended December 31, 2025 compared to $350.3 million for the year ended December 31, 2024.","length":135,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Value Add program completed renovations of 2,003 units during the year ended December 31, 2025, achieving a weighted average return on investment during the year of 15.3%.","length":171,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":935,"olType":false},{"type":"text","content":" Full Year 2026 Guidance Summary ","length":31,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Earnings per diluted share of $0.21 to $0.28","length":44,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"CFFO per share of $1.12 to 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