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Independence Realty ( (IRT) ) has shared an announcement.
Independence Realty Trust reported strong financial results for the fourth quarter and full year of 2024, achieving the high end of its guidance with a core funds from operations (CFFO) per share of $1.16 and net operating income (NOI) growth of 3.2%. The company saw a significant improvement in its financial position with a net debt-to-Adjusted EBITDA ratio decrease to 5.9x and a renewed and expanded unsecured line of credit. These achievements were supported by strategic renovations in their value-add program, leading to a 15.7% return on investment, and an improved S&P credit rating to BBB. As the company looks forward to 2025, it is poised for further growth by capitalizing on positive market trends.
More about Independence Realty
Independence Realty Trust, Inc. is a multifamily apartment real estate investment trust (REIT) that focuses on acquiring, owning, operating, improving, and managing apartment communities in the United States.
YTD Price Performance: 2.07%
Average Trading Volume: 1,630,031
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $4.63B
See more insights into IRT stock on TipRanks’ Stock Analysis page.
