NYSE$IRT

Independence Realty Trust Inc · Q3 2025 earnings

Q3 2025 earnings · · After market close · Investor relations

Briefing

Independence Realty Trust reported Q3 2025 revenue of $156.0M, net income of $25.0M, diluted EPS of $0.18.

For Q3 2025, Independence Realty Trust reported Revenue was $156.0M, net income was $25.0M, diluted EPS was $0.18. Management discusses segment trends, liquidity, and outlook in the quarterly filing.

  • Revenue $156.0M for Q3 2025.
  • Net income $25.0M.
  • Diluted EPS $0.18.

Headline financials

Total Revenue

$167M

Previous: $160M+4.4%
EPS (adj)

$0.18

Previous: $0.29-37.9%
Same-Store NOI Growth

2.7%

No prior period
Portfolio Average Occupancy

95.3%

No prior period
NOI Margin

63.0%

No prior period
Resident Retention Rate

60.4%

No prior period
Value Add Units Renovated

788

No prior period
Value Add ROI

14.8%

No prior period
Lease Over Lease New Leases Growth

-3.5%

No prior period
Lease Over Lease Renewal Leases Growth

2.6%

No prior period
Lease Over Lease Blended Growth

0.1%

No prior period
Total Debt

$2.3B

No prior period
Net Debt to Adjusted EBITDA

6

No prior period
Interest Coverage

4.5

No prior period
Number of Operating Properties

115

No prior period
Total Units

33.8K

No prior period
Portfolio Period End Occupancy

95.1%

No prior period
Portfolio Average Effective Monthly Rent per Unit

$1.59K

No prior period
Same-Store Portfolio Period End Occupancy

95.6%

No prior period
Same-Store Portfolio Average Effective Monthly Rent per Unit

$1.58K

No prior period
Capital Expenditures

-$169M

Previous: -$123M-37.3%
Net Income

$6.89M

Previous: $12.4M-44.3%
Operating Income

$105M

Previous: $30.9M+239.9%

Revenue & EPS history

Independence Realty Trust · Revenue · Quarterly

$167M

Q3 2025+4.4%vs Q3 2024
Beat estimate in 6 of 15 quarters(40%)
ActualEstimate

Forward guidance

REIT outlook focuses on occupancy, rent growth, financing costs, and capital recycling.

Tailwinds

  • Portfolio cash flows and same-store trends support dividends.
  • Development and acquisition pipelines add growth optionality.

Headwinds

  • Interest rates and cap rates affect NAV and refinancing.
  • New supply and affordability can pressure rent growth.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2025

Historical avgQ3 2025

+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

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
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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