The latest update is out from Independence Realty ( (IRT) ).
Independence Realty Trust (IRT) reported a significant increase in net income for Q3 2024, reaching $12.4 million, compared to $3.9 million in the same period of 2023. The company achieved a ‘BBB’ investment-grade rating from S&P, reflecting stable financial health. Despite a slight decline in Core Funds from Operations and Adjusted EBITDA, IRT’s strategic asset sales and portfolio optimization efforts have strengthened its balance sheet. Additionally, a robust renovation program has delivered a 14.9% return on investment, enhancing property value and rental income.
See more insights into IRT stock on TipRanks’ Stock Analysis page.
