NYSE$IRT
Independence Realty Trust Inc · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
Announced first quarter 2021 financial results, showing increased net income and same-store NOI growth.
Independence Realty Trust reported a net income available to common shares of $1.1 million, a significant improvement from the net loss of $0.4 million in the same quarter of the previous year. Same-store NOI increased by 5.3%, driven by occupancy and rental rate growth. The company is raising its 2021 guidance due to an improving outlook.
- Net income available to common shares was $1.1 million, compared to a net loss of $0.4 million in Q1 2020.
- Earnings per diluted share were $0.01, up from $0.00 in Q1 2020.
- Same store NOI grew by 5.3% compared to the same period last year.
- Core Funds from Operations (CFFO) reached $18.0 million, compared to $14.6 million in Q1 2020.
Headline financials
Revenue & EPS history
Independence Realty Trust · Revenue · Quarterly
$55.1M
Forward guidance
IRT is updating its 2021 full year guidance with EPS per diluted share projected to be in a range of $0.05 to $0.08 and CFFO per diluted share projected to be in the range of $0.72 to $0.75.
Tailwinds
- Property revenue growth is expected to be between 3.75% and 5.0%.
- Same store property NOI growth is projected to be between 3.25% and 5.0%.
- Acquisition volume is projected between $100 million and $200 million.
- EPS per diluted share is projected to be in a range of $0.05 to $0.08.
- CFFO per diluted share is projected to be in the range of $0.72 to $0.75.
Headwinds
- Controllable property operating expense growth is expected to be between 3.0% and 4.0%.
- Real estate tax and insurance expense increase is projected to be between 7.0% and 8.0%.
- Total operating expense growth is expected to be between 4.25% and 5.5%.
- General and administrative expenses are projected between $16.5 and $18.0 million.
- Property management expenses are projected between $8.25 and $8.75 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2021
+0.8%
Avg return
Earnings day
+0.8%
Avg return
5 days after
+2.3%
Avg return
30 days after
51%
26 / 51 earnings
Positive
+10.0%
Q2 2015
Best reaction
-8.7%
Q2 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2026 | -0.1% | +1.3% | -0.3% | |
| Q4 2025 | -5.3% | -2.4% | -6.0% | |
| Q3 2025 | +4.5% | +7.2% | +13.4% | |
| Q1 2025 | -1.4% | -0.3% | -4.3% | |
| Q4 2024 | +2.2% | +3.6% | +4.5% | |
| Q3 2024 | -0.5% | -2.3% | +10.8% | |
| Q2 2024 | +2.9% | +2.0% | +11.4% | |
| Q1 2024 | -0.1% | +1.9% | +5.4% | |
| Q4 2023 | +8.2% | +8.4% | +8.5% | |
| Q3 2023 | +1.6% | +11.8% | +11.0% | |
| Q2 2023 | -1.6% | -0.4% | -3.7% | |
| Q1 2023 | +4.8% | +6.2% | +8.0% | |
| Q4 2022 | -1.8% | -3.0% | -19.8% | |
| Q3 2022 | +0.2% | +2.2% | +6.7% | |
| Q2 2022 | +4.5% | +1.7% | -5.3% | |
| Q1 2022 | -2.0% | -10.1% | -7.7% | |
| Q4 2021 | +4.0% | -3.6% | +1.1% | |
| Q3 2021 | +6.6% | +5.8% | +10.5% | |
| Q2 2021 | -8.7% | -3.6% | +0.1% | |
| Q1 2021 | -1.8% | -1.7% | +0.9% | |
| Q4 2020 | +2.1% | +5.7% | +8.3% | |
| Q3 2020 | +4.1% | +3.8% | +7.2% | |
| Q2 2020 | +3.4% | -0.4% | +7.2% | |
| Q1 2020 | -3.5% | -1.3% | +19.1% | |
| Q4 2019 | +5.6% | +8.2% | -39.3% | |
| Q3 2019 | +1.7% | -1.7% | -1.4% | |
| Q2 2019 | +5.2% | +1.9% | +12.4% | |
| Q1 2019 | -0.5% | +0.7% | +3.7% | |
| Q4 2018 | -3.9% | -4.3% | -1.8% | |
| Q3 2018 | -2.4% | -2.8% | +1.9% | |
| Q2 2018 | +0.0% | -0.4% | +1.4% | |
| Q1 2018 | -1.1% | +0.0% | +0.9% | |
| Q4 2017 | -5.7% | -1.3% | +2.6% | |
| Q3 2017 | +0.6% | +1.7% | +1.1% | |
| Q2 2017 | +0.0% | +0.1% | +1.7% | |
| Q1 2017 | -0.5% | -1.3% | +7.2% | |
| Q4 2016 | -0.7% | -1.8% | -0.5% | |
| Q3 2016 | -2.8% | -8.5% | +3.9% | |
| Q2 2016 | +7.6% | +9.9% | +10.2% | |
| Q1 2016 | +4.1% | — | — | |
| Q4 2015 | +3.1% | — | — | |
| Q3 2015 | +5.2% | — | — | |
| Q2 2015 | +10.0% | — | — | |
| Q1 2015 | -5.2% | — | — | |
| Q4 2014 | -1.4% | — | — | |
| Q3 2014 | +0.6% | — | — | |
| Q2 2014 | +0.4% | — | — | |
| Q1 2014 | -1.3% | — | — | |
| Q4 2013 | +0.9% | — | — | |
| Q3 2013 | +1.0% | — | — | |
| Q2 2013 | -3.0% | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2011 | — | — | — | |
| Q1 2012 | — | — | — | |
| Q4 2009 | — | — | — | |
| Q4 2011 | — | — | — | |
| Q3 2010 | — | — | — | |
| Q3 2011 | — | — | — | |
| Q2 2011 | — | — | — | |
| Q2 2010 | — | — | — | |
| Q4 2010 | — | — | — | |
| Q1 2010 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro