Independence Realty Trust, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 14, 2024 at 04:07 pm EST
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Independence Realty Trust, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 166.73 million compared to USD 162.49 million a year ago. Revenue was USD 167.05 million compared to USD 162.8 million a year ago. Net loss was USD 40.52 million compared to net income of USD 33.63 million a year ago. Basic loss per share from continuing operations was USD 0.18 compared to basic earnings per share from continuing operations of USD 0.15 a year ago. Diluted loss per share from continuing operations was USD 0.18 compared to diluted earnings per share from continuing operations of USD 0.15 a year ago.
For the full year, sales was USD 659.84 million compared to USD 627.41 million a year ago. Revenue was USD 660.98 million compared to USD 628.53 million a year ago. Net loss was USD 17.23 million compared to net income of USD 117.25 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to basic earnings per share from continuing operations of USD 0.53 a year ago. Diluted loss per share from continuing operations was USD 0.08 compared to diluted earnings per share from continuing operations of USD 0.53 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. 
