NYSE$IRT
Independence Realty Trust Inc · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Announced second quarter 2022 financial results.
Independence Realty Trust reported strong second-quarter results, driven by its high-quality portfolio in non-gateway markets. The company delivered 14.4% same-store NOI growth and blended lease over lease rental growth of 12.7%.
- IRT restructured its debt to secure a new $400 million term loan maturing in 2028.
- Net (loss) income available to common shares was $(7.2) million.
- (Loss) Earnings per diluted share was $(0.03).
- Combined same-store net operating income (NOI) growth of 14.4%.
Headline financials
Revenue & EPS history
Independence Realty Trust · Revenue · Quarterly
$155M
Forward guidance
IRT raised its 2022 full year guidance. Earnings per diluted share is projected to be in the range of $0.48 to $0.50 and Core FFO per share is projected to be in the range of $1.06 to $1.08.
Tailwinds
- Property revenue growth is expected to be 10.7% to 11.1%.
- Controllable operating expense growth is expected to be 4.2% to 5.2%.
- Real estate tax and insurance expense growth is expected to be 8.6% to 9.2%.
- Total operating expense growth is expected to be 5.9% to 6.7%.
- Property NOI growth is expected to be 13.25% to 14.25%.
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 Q2 2022
+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 | — | — | — |
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