Independence Realty Trust Q2 EPS falls
Independence Realty Trust Q2 EPS falls
Overview
US multifamily REIT's Q2 EPS fell yr/yr, while CFFO per share was flat and ahead of expectations
Company reported same-store NOI growth of 1.2% for Q2 2026
Quarterly dividend of $0.18 per share
Outlook
Independence Realty Trust expects 2026 EPS guidance of $0.22 to $0.27 per share
Company expects 2026 CFFO per share guidance of $1.13 to $1.15
Company expects 2026 same-store NOI growth of 1.0% to 2.0%
Result Drivers
RENTAL REVENUE GROWTH - Co reported a 0.9% increase in rental and other property revenue for Q2 2026 compared to Q2 2025
VALUE ADD RENOVATIONS - Co completed 600 unit renovations in Q2 2026, achieving an average monthly rent increase of $279 per unit over unrenovated units
IMPROVED LEASING ENVIRONMENT - Co said leasing spreads accelerated and lead volume increased, with new lease rate growth nearing breakeven
Company press release: ID:nBw8zQYfVa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| $0.01 |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the residential reits peer group is "buy"
Wall Street's median 12-month price target for Independence Realty Trust, Inc is $19.00, about 14.3% above its July 31 closing price of $16.63
The stock recently traded at 100 times the next 12-month earnings vs. a P/E of 82 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)