Independence Realty Trust, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 30, 2023 at 04:07 pm EDT
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Independence Realty Trust, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 168.38 million compared to USD 160.3 million a year ago. Revenue was USD 168.61 million compared to USD 160.6 million a year ago. Net income was USD 3.93 million compared to USD 16.22 million a year ago. Basic earnings per share from continuing operations was USD 0.02 compared to USD 0.07 a year ago. Diluted earnings per share from continuing operations was USD 0.02 compared to USD 0.07 a year ago.
For the nine months, sales was USD 493.11 million compared to USD 464.92 million a year ago. Revenue was USD 493.94 million compared to USD 465.73 million a year ago. Net income was USD 23.29 million compared to USD 83.62 million a year ago. Basic earnings per share from continuing operations was USD 0.1 compared to USD 0.38 a year ago. Diluted earnings per share from continuing operations was USD 0.1 compared to USD 0.38 a year ago.
Independence Realty Trust, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Companyâs investment strategy is focused on gaining scale near major employment centers within submarkets that offer good school districts and retail. The Company acquires, owns, operates, improves, and manages multifamily apartment communities across non-gateway United States markets. The Company owns and operates approximately 113 multifamily apartment properties across non-gateway United States markets, including Atlanta, Columbus, Dallas, Denver, Houston, Indianapolis, Nashville, Oklahoma City, Raleigh-Durham, and Tampa, Florida. The Companyâs portfolio of properties consists primarily of apartment communities geographically concentrated in the Southeastern and Midwest United States. The Company owns all of its assets and conducts all its operations through Independence Realty Operating Partnership, LP (IROP).
INDEPENDENCE REALTY TRUST, INC. 
