I-RES Maintains High Occupancy and Stable Finances

Irish Residential Properties REIT (GB:0QT8) has released an update.

Irish Residential Properties REIT plc (I-RES) reported a robust operational performance for Q1 2024, with high occupancy rates at 99.5%, signaling strong demand for rental housing in Ireland. Despite a slight decline in total revenue due to strategic asset disposals, the company’s financial health remains solid with steady net rental income margins and rent collections over 99%. I-RES’s focus on balance sheet resilience is evident with a Loan-To-Value ratio of 44.7%, ensuring compliance with banking and REIT regulations.

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