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Independence Realty ( (IRT) ) has shared an announcement.
Independence Realty Trust, Inc. announced an amended and restated unsecured credit facility, increasing its revolving credit capacity from $500 million to $750 million and extending its maturity to 2029. This move, supported by investment-grade ratings, aims to enhance IRT’s financial flexibility, decrease interest costs, and provide long-term value for stakeholders, with interest rate margins reflecting a reduction of approximately 34 basis points.
More about Independence Realty
Independence Realty Trust, Inc. (IRT) is a real estate investment trust that owns and operates multifamily communities across non-gateway U.S. markets, including cities like Atlanta, Dallas, and Denver. The company’s investment strategy focuses on scaling near major employment centers within submarkets offering quality amenities, aiming to provide stockholders with attractive risk-adjusted returns through diligent management and strong operational performance.
YTD Price Performance: -4.86%
Average Trading Volume: 1,968,836
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $4.34B
See more insights into IRT stock on TipRanks’ Stock Analysis page.
