Independence Realty Trust Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Independence Realty Trust Inc reported revenue of $657.7M (+2.8% year on year) and net income of $57.7M (+44.1% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Rental and other property revenue | $656.5M | $638.9M | $659.8M | $627.4M |
| Other revenue | $1.2M | $1.1M | $1.1M | $1.1M |
| Total revenue | $657.7M | $640.0M | $661.0M | $628.5M |
| Property operating expenses | $239.2M | $235.6M | $244.3M | $232.3M |
| Property management expenses | $30.1M | $29.9M | $27.1M | $24.0M |
| General and administrative expenses | $24.0M | $24.2M | $22.8M | $26.3M |
| Depreciation and amortization expense | $243.2M | $220.9M | $219.0M | $252.8M |
| Casualty losses | $1.3M | — | — | — |
| Total expenses | $537.8M | $514.5M | $514.1M | $526.6M |
| Interest expense | ($79.0M) | ($76.1M) | ($89.9M) | ($87.0M) |
| Gain on sale (loss on impairment) of real estate assets, net | $6.1M | ($9.9M) | ($66.5M) | $111.8M |
| (Loss) gain on extinguishment of debt | ($67.0K) | $200.0K | ($124.0K) | $0 |
| Other Nonoperating Income (Expense) | ($352.0K) | ($1.0K) | ($427.0K) | $1.6M |
| Income (loss) from investments in unconsolidated real estate entities | $11.1M | $347.0K | ($4.5M) | ($2.2M) |
| Restructuring costs | $0 | $0 | ($3.2M) | — |
| Net income (loss) | $57.7M | $40.0M | ($17.8M) | $120.7M |
| (Income) loss allocated to noncontrolling interest | ($1.1M) | ($742.0K) | $580.0K | ($3.4M) |
| Net income (loss) allocable to common shares | 56.6M | 39.3M | -17.2M | 117.2M |
| Basic (in dollars per share) | $0.24 | $0.17 | -$0.08 | $0.53 |
| Diluted (in dollars per share) | $0.24 | $0.17 | -$0.08 | $0.53 |
| Basic (in shares) | 233.9M | 224.8M | 224.4M | 222.0M |
| Diluted (in shares) | 234.8M | 225.6M | 224.4M | 223.1M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Rental and other property revenue | $167.1M | $165.2M | $166.9M | $161.9M |
| Other revenue | $115.0K | $109.0K | $250.0K | $297.0K |
| Total revenue | $167.2M | $165.3M | $167.1M | $162.2M |
| Property operating expenses | $63.4M | $62.1M | $61.7M | $60.9M |
| Property management expenses | $7.9M | $8.2M | $7.9M | $7.7M |
| General and administrative expenses | $5.7M | $8.5M | $4.9M | $6.0M |
| Depreciation and amortization expense | $64.9M | $64.6M | $61.7M | $59.8M |
| Casualty (gains) losses, net | ($553.0K) | $77.0K | $419.0K | $255.0K |
| Total expenses | $141.3M | $143.6M | $136.6M | $134.7M |
| Interest expense | ($21.6M) | ($20.7M) | ($20.5M) | ($18.8M) |
| Gain on sale of real estate assets, net | $0 | $0 | ($12.8M) | $0 |
| Loss on extinguishment of debt | $0 | $0 | $0 | $0 |
| Other Nonoperating Income (Expense) | ($105.0K) | ($86.0K) | ($12.0K) | $0 |
| Loss from unconsolidated real estate entities | ($836.0K) | ($1.0M) | $9.8M | ($562.0K) |
| Net income (loss) | $3.4M | ($127.0K) | $7.0M | $8.2M |
| (Income) loss allocated to noncontrolling interest | ($27.0K) | $59.0K | ($102.0K) | ($126.0K) |
| Net income allocable to common shares | 3.4M | -68.0K | 6.9M | 8.0M |
| Basic (in dollars per share) | $0.01 | $0.00 | $0.03 | $0.03 |
| Diluted (in dollars per share) | $0.01 | $0.00 | $0.03 | $0.03 |
| Basic (in shares) | 235.4M | 236.4M | 233.6M | 233.5M |
| Diluted (in shares) | 236.0M | 236.4M | 234.3M | 234.1M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Investments in real estate, at cost | $6.6B | $6.4B | $6.3B | $6.6B |
| Accumulated depreciation | ($915.2M) | ($741.0M) | ($582.8M) | ($425.0M) |
| Investments in real estate, net | $5.7B | $5.6B | $5.7B | $6.2B |
| Real estate, held for sale | $76.5M | $110.1M | $296.3M | $35.8M |
| Investments in real estate under development | $60.1M | $116.9M | $98.4M | — |
| Cash and cash equivalents | $23.6M | $21.2M | $22.9M | $16.1M |
| Restricted Cash | $24.1M | $22.2M | $27.9M | $27.9M |
| Investments in unconsolidated real estate entities | $98.3M | $92.0M | $89.0M | $80.2M |
| Other Assets | $45.7M | $39.6M | $39.2M | $34.8M |
| Derivative assets | $9.8M | $29.3M | $29.9M | $41.1M |
| Intangible assets, net of accumulated amortization of $3,257 and $1,305, respectively | $3.0M | $3.6M | $66.0K | $399.0K |
| Total Assets | $6.0B | $6.1B | $6.3B | $6.5B |
| Indebtedness, net | $2.3B | $2.3B | $2.4B | $2.6B |
| Accounts payable and accrued expenses | $92.4M | $94.7M | $109.1M | $109.7M |
| Accrued interest payable | $8.4M | $8.6M | $7.9M | $7.7M |
| Dividends payable | $41.3M | $37.8M | $36.9M | $32.2M |
| Derivative liabilities | $346.0K | — | — | $0 |
| Other Liabilities | $8.5M | $8.0M | $9.7M | $13.0M |
| Total Liabilities | $2.4B | $2.5B | $2.7B | $2.8B |
| Preferred stock, $0.01 par value; 50,000,000 shares authorized, 0 and 0 shares issued and outstanding, respectively | 0 | 0 | 0 | 0 |
| Common stock, $0.01 par value; 500,000,000 shares authorized, 237,234,750 and 230,838,006 shares issued and outstanding, including 382,337 and 360,561 unvested restricted common share awards, respectively | 2.4M | 2.3M | 2.2M | 2.2M |
| Additional paid-in capital | $4.0B | $3.9B | $3.8B | $3.8B |
| Accumulated other comprehensive income | $7.7M | $26.1M | $25.5M | $35.1M |
| Accumulated deficit | ($555.3M) | ($454.1M) | ($348.4M) | ($191.7M) |
| Total stockholders’ equity | $3.5B | $3.4B | $3.4B | $3.6B |
| Noncontrolling interests | $129.5M | $132.8M | $135.9M | $141.2M |
| Total Equity | $3.6B | $3.6B | $3.6B | $3.7B |
| Total Liabilities and Equity | $6.0B | $6.1B | $6.3B | $6.5B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Investments in real estate, at cost | $6.8B | $6.7B | $6.6B | $6.4B |
| Accumulated depreciation | ($1.0B) | ($972.7M) | ($861.4M) | ($810.0M) |
| Investments in real estate, net | $5.8B | $5.7B | $5.7B | $5.5B |
| Real estate, held for sale | $77.8M | $76.9M | $107.2M | $119.9M |
| Investments in real estate under development | $67.8M | $127.8M | $65.6M | $91.8M |
| Cash and cash equivalents | $22.5M | $23.3M | $23.3M | $19.5M |
| Restricted Cash | $24.2M | $19.9M | $27.6M | $23.0M |
| Investments in unconsolidated real estate entities | $70.0M | $66.6M | $94.0M | $106.9M |
| Other Assets | $45.1M | $44.2M | $47.8M | $38.4M |
| Derivative assets | $14.8M | $11.6M | $11.9M | $14.6M |
| Intangible assets, net of accumulated amortization of $335 and $3,257, respectively | $418.0K | $1.6M | $5.5M | $1.6M |
| Total Assets | $6.1B | $6.1B | $6.1B | $6.0B |
| Indebtedness, net | $2.4B | $2.4B | $2.3B | $2.2B |
| Accounts payable and accrued expenses | $101.7M | $84.2M | $119.5M | $105.6M |
| Accrued interest payable | $8.3M | $10.6M | $10.3M | $7.8M |
| Dividends payable | $43.4M | $41.0M | $41.6M | $40.7M |
| Derivative liabilities | $0 | $0 | $737.0K | $233.0K |
| Other Liabilities | $8.2M | $8.3M | $9.0M | $7.5M |
| Total Liabilities | $2.6B | $2.6B | $2.5B | $2.4B |
| Preferred stock, $0.01 par value; 50,000,000 shares authorized, 0 and 0 shares issued and outstanding, respectively | 0 | 0 | 0 | 0 |
| Common stock, $0.01 par value; 500,000,000 shares authorized, 235,742,658 and 237,234,750 shares issued and outstanding, including 428,346 and 382,337 unvested restricted common share awards, respectively | 2.4M | 2.4M | 2.4M | 2.3M |
| Additional paid-in capital | $4.0B | $4.0B | $4.0B | $3.9B |
| Accumulated other comprehensive income | $13.4M | $10.0M | $9.1M | $12.0M |
| Accumulated deficit | ($634.7M) | ($595.7M) | ($548.3M) | ($514.6M) |
| Total stockholders’ equity | $3.4B | $3.4B | $3.5B | $3.4B |
| Noncontrolling interests | $127.5M | $128.5M | $129.8M | $130.8M |
| Total Equity | $3.5B | $3.5B | $3.6B | $3.6B |
| Total Liabilities and Equity | $6.1B | $6.1B | $6.1B | $6.0B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income (loss) | $57.7M | $40.0M | ($17.8M) | $120.7M |
| Depreciation and amortization | $243.2M | $220.9M | $219.0M | $252.8M |
| Accretion of loan discounts and premiums, net | ($8.0M) | ($9.2M) | ($10.9M) | ($11.0M) |
| Amortization of deferred financing costs, net | $3.7M | $2.8M | $3.3M | $3.7M |
| Stock compensation expense | $7.9M | $7.1M | $7.7M | $7.9M |
| (Gain on sale) loss on impairment of real estate assets, net | ($6.1M) | $9.9M | $66.5M | ($111.8M) |
| Loss (gain) on extinguishment of debt | $67.0K | ($200.0K) | $124.0K | $0 |
| Amortization related to derivative instruments | $986.0K | $1.2M | $1.3M | $1.3M |
| Non-cash casualty losses | $589.0K | — | — | — |
| Equity in (income) loss from investments in unconsolidated real estate entities | ($11.1M) | ($347.0K) | $4.5M | $2.2M |
| Other non-cash loss | $103.0K | $1.0K | $1.3M | ($1.1M) |
| Other assets | ($8.0M) | ($7.9M) | ($8.1M) | ($33.0K) |
| Accounts payable and accrued expenses | $2.5M | ($7.1M) | ($3.2M) | ($2.5M) |
| Accrued interest payable | ($253.0K) | $713.0K | ($79.0K) | $538.0K |
| Other liabilities | ($1.0M) | ($1.3M) | ($2.4M) | ($4.4M) |
| Net cash provided by operating activities | $282.1M | $259.8M | $262.2M | $249.5M |
| Acquisition of real estate properties | ($152.7M) | ($238.6M) | $0 | ($201.8M) |
| Escrow deposits for pending real estate acquisitions | ($590.0K) | — | — | — |
| Cash acquired from consolidation of previously unconsolidated real estate entity | $0 | $0 | $2.1M | — |
| Investments in unconsolidated real estate entities | ($35.7M) | ($11.6M) | ($26.0M) | ($60.8M) |
| Return of investment in unconsolidated real estate entities | $40.5M | $9.1M | $0 | $3.4M |
| Proceeds from dispositions of real estate properties, net | $157.9M | $390.9M | $230.8M | $253.6M |
| Capital expenditures | ($135.6M) | ($118.3M) | ($146.6M) | ($84.0M) |
| Real estate development expenditures | ($18.2M) | ($56.8M) | ($66.2M) | ($61.8M) |
| Proceeds from insurance claims | $1.6M | $4.7M | $4.2M | $15.6M |
| Net cash used in investing activities | ($142.9M) | ($20.6M) | ($1.7M) | ($135.8M) |
| Proceeds (costs) from issuance of common stock, net | $162.4M | — | — | — |
| Proceeds from unsecured revolver and term loan | $479.5M | $450.0M | $270.0M | $707.5M |
| Proceeds from unsecured notes | $0 | $150.0M | — | — |
| Unsecured revolver and secured credit facility repayments | ($478.2M) | — | — | — |
| Mortgage principal repayments and payoffs | ($100.7M) | ($314.1M) | ($129.6M) | ($53.4M) |
| Payment for deferred financing costs | ($6.3M) | — | — | — |
| Distributions on common stock | ($154.4M) | ($144.0M) | ($134.9M) | ($105.8M) |
| Distributions to noncontrolling interests | ($3.9M) | ($3.8M) | ($3.6M) | ($2.7M) |
| Payment for debt extinguishment | $0 | ($666.0K) | — | $0 |
| Repurchase of shares related to equity award tax withholding | -3.5M | -2.6M | -4.7M | -6.0M |
| Repurchase of common stock, including repurchase costs | ($30.0M) | — | — | — |
| Net cash used in financing activities | ($135.1M) | ($246.4M) | ($253.7M) | ($135.4M) |
| Net change in cash, cash equivalents, and restricted cash | $4.2M | ($7.3M) | $6.7M | ($21.7M) |
| Cash, cash equivalents and restricted cash, beginning of period | $43.5M | — | — | — |
| Cash, cash equivalents and restricted cash, end of the period | $47.6M | — | — | — |
| Cash and cash equivalents | $23.6M | $21.2M | $22.9M | $16.1M |
| Restricted Cash | $24.1M | $22.2M | $27.9M | $27.9M |
| Total cash, cash equivalents and restricted cash, end of period | $47.6M | $50.7M | $44.0M | $65.7M |
| Cash paid for interest | $82.6M | $80.6M | $96.0M | $96.4M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $3.3M | ($127.0K) | $23.7M | $16.7M |
| Depreciation and amortization | $129.5M | $64.6M | $180.3M | $118.5M |
| Accretion of loan discounts and premiums, net | ($4.0M) | ($2.0M) | ($6.0M) | ($4.0M) |
| Amortization of deferred financing costs, net | $2.1M | $1.0M | $2.7M | $1.8M |
| Stock compensation expense | $5.5M | $3.8M | $6.8M | $5.8M |
| Gain on sale of real estate assets, net | $0 | $0 | $11.3M | ($1.5M) |
| Loss on extinguishment of debt | $0 | $0 | $67.0K | $67.0K |
| Amortization related to derivative instruments | $450.0K | $226.0K | $750.0K | $506.0K |
| Non-cash casualty losses | $1.2M | $39.0K | $537.0K | $400.0K |
| Equity in loss from investments in unconsolidated real estate entities | $1.9M | $1.0M | ($8.7M) | $1.2M |
| Other loss | $191.0K | $86.0K | $103.0K | $103.0K |
| Other assets | ($917.0K) | $534.0K | ($9.9M) | $3.1M |
| Accounts payable and accrued expenses | ($2.7M) | ($16.1M) | $19.3M | $1.4M |
| Accrued interest payable | ($81.0K) | $2.3M | $1.6M | ($815.0K) |
| Other liabilities | ($48.0K) | ($79.0K) | ($666.0K) | ($569.0K) |
| Cash flow provided by operating activities | $136.2M | $55.3M | $222.0M | $142.6M |
| Acquisition of real estate properties | ($29.4M) | ($29.4M) | ($152.7M) | ($58.6M) |
| Escrow deposits for pending real estate acquisitions | $0 | $0 | — | ($3.8M) |
| Cash acquired in consolidation of unconsolidated real estate entity | $94.0K | $94.0K | — | — |
| Investments in unconsolidated real estate entities | ($16.5M) | ($11.6M) | ($24.4M) | ($16.1M) |
| Proceeds from dispositions of real estate properties, net | $0 | $0 | $109.2M | $109.2M |
| Capital expenditures | ($63.9M) | ($23.6M) | ($101.4M) | ($53.7M) |
| Real estate development expenditures | ($4.1M) | ($1.9M) | ($16.3M) | ($12.2M) |
| Proceeds from insurance claims | $779.0K | $474.0K | $1.5M | $925.0K |
| Cash flow used in investing activities | ($113.0M) | ($66.0M) | ($153.0M) | ($34.3M) |
| (Costs) proceeds from issuance of common stock, net | ($115.0K) | $0 | $150.7M | $49.9M |
| Proceeds from unsecured revolver and term loan | $677.0M | $562.0M | $398.4M | $243.4M |
| Unsecured revolver, secured credit facility and term loan repayments | ($461.1M) | ($402.9M) | ($386.8M) | ($223.0M) |
| Mortgage principal repayments and payoffs | ($122.0M) | ($76.2M) | ($97.4M) | ($94.4M) |
| Payment for deferred financing costs | ($2.6M) | ($2.6M) | ($6.2M) | ($5.6M) |
| Distributions on common stock | ($80.6M) | ($40.6M) | ($113.8M) | ($74.1M) |
| Distributions to noncontrolling interests | ($2.0M) | ($1.0M) | ($2.9M) | ($1.9M) |
| Payment for debt extinguishment | $0 | — | $0 | ($1.0K) |
| Repurchase of shares related to equity award tax withholding | -2.7M | -2.6M | -3.4M | -3.4M |
| Repurchase of common stock, including repurchase costs | ($29.9M) | ($29.9M) | — | — |
| Cash flow used in financing activities | ($24.2M) | $6.3M | ($61.5M) | ($109.2M) |
| Net change in cash, cash equivalents, and restricted cash | ($925.0K) | ($4.4M) | $7.5M | ($926.0K) |
| Cash, cash equivalents, and restricted cash, beginning of period | $47.6M | $47.6M | $43.5M | $43.5M |
| Cash, cash equivalents, and restricted cash, end of the period | $46.7M | $43.3M | — | — |
| Cash and cash equivalents | $22.5M | $23.3M | $23.3M | $19.5M |
| Restricted Cash | $24.2M | $19.9M | $27.6M | $23.0M |
| Total cash, cash equivalents, and restricted cash, end of period | $46.7M | $43.3M | $50.9M | $42.5M |
Independence Realty Trust Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.