NYSE$IRT
Independence Realty Trust Inc · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Announced fourth quarter and full year 2021 financial results.
Independence Realty Trust reported strong fourth-quarter results, marked by significant growth in net income and same-store NOI. The completion of the STAR merger has doubled the property and unit count, positioning the company for continued growth in the U.S. Sunbelt region.
- Net income available to common shares was $28.6 million, compared to $13.3 million for the quarter ended December 31, 2020.
- Earnings per diluted share was $0.23, compared to $0.14 for the quarter ended December 31, 2020.
- Same store net operating income (NOI) grew by 15.1% compared to the quarter ended December 31, 2020.
- The strategic merger with Steadfast Apartment REIT (STAR) was completed on December 16, 2021, adding 68 properties with 21,394 rentable units and two development properties with 621 rentable units.
Headline financials
Revenue & EPS history
Independence Realty Trust · Revenue · Quarterly
$76.8M
Forward guidance
IRT introduced 2022 full year guidance with earnings per diluted share projected to be in the range of $0.32 to $0.36 and Core FFO per share in the range of $1.00 to $1.04.
Tailwinds
- Property revenue growth of 8.1% to 9.1%
- Controllable operating expense growth of 2.5% to 3.5%
- Property NOI growth of 10.0% to 12.0%
- Disposition volume of $157 million
- Recurring Capital Expenditures of $18.5 million to $21.5 million
Headwinds
- Real estate tax and insurance expense growth of 6.5% to 8.5%
- Total operating expense growth of 4.0% to 5.5%
- General and administrative & Property management expenses of $48.0 million to $51.0 million
- Interest expense of $100.0 million to $103.0 million
- Acquisition volume None assumed
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 Q4 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 |
|---|---|---|---|---|
| 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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