Independence Realty Trust, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 26, 2023 at 09:05 pm
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Independence Realty Trust, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 163.6 million compared to USD 154.64 million a year ago. Revenue was USD 163.96 million compared to USD 154.76 million a year ago. Net income was USD 10.71 million compared to net loss of USD 7.21 million a year ago. Basic earnings per share from continuing operations was USD 0.05 compared to basic loss per share from continuing operations of USD 0.03 a year ago. Diluted earnings per share from continuing operations was USD 0.05 compared to diluted loss per share from continuing operations of USD 0.03 a year ago.
For the six months, sales was USD 324.74 million compared to USD 304.62 million a year ago. Revenue was USD 325.33 million compared to USD 305.13 million a year ago. Net income was USD 19.36 million compared to USD 67.4 million a year ago. Basic earnings per share from continuing operations was USD 0.09 compared to USD 0.3 a year ago. Diluted earnings per share from continuing operations was USD 0.09 compared to USD 0.3 a year ago.
Independence Realty Trust, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Companyâs investment strategy is focused on gaining scale near major employment centers within submarkets that offer good school districts and retail. The Company acquires, owns, operates, improves, and manages multifamily apartment communities across non-gateway United States markets. The Company owns and operates approximately 113 multifamily apartment properties across non-gateway United States markets, including Atlanta, Columbus, Dallas, Denver, Houston, Indianapolis, Nashville, Oklahoma City, Raleigh-Durham, and Tampa, Florida. The Companyâs portfolio of properties consists primarily of apartment communities geographically concentrated in the Southeastern and Midwest United States. The Company owns all of its assets and conducts all its operations through Independence Realty Operating Partnership, LP (IROP).
INDEPENDENCE REALTY TRUST, INC. 
