--- title: "Independence Realty Trust | 8-K: FY2026 Q2 Revenue: USD 167.13 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/294731967.md" datetime: "2026-08-03T20:08:15.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294731967.md) - [en](https://longbridge.com/en/news/294731967.md) - [zh-HK](https://longbridge.com/zh-HK/news/294731967.md) generator: "portal-rs" --- # Independence Realty Trust | 8-K: FY2026 Q2 Revenue: USD 167.13 M Revenue: As of FY2026 Q2, the actual value is USD 167.13 M. EPS: As of FY2026 Q2, the actual value is USD 0.01, missing the estimate of USD 0.0277. EBIT: As of FY2026 Q2, the actual value is USD 24.97 M. ### Financial Highlights #### Net Income - Net income available to common shares for the three months ended June 30, 2026, was $3.4 million, a decrease from $8.0 million for the same period in 2025. - For the six months ended June 30, 2026, net income was $3.3 million, a decrease from $16.7 million for the same period in 2025. #### Core Funds From Operations (CFFO) - CFFO for the three months ended June 30, 2026, was $66.6 million, compared to $66.7 million for the same period in 2025. - CFFO per share remained $0.28 for both the three months ended June 30, 2026, and 2025. - For the six months ended June 30, 2026, CFFO was $130.2 million, a slight decrease from $130.9 million for the same period in 2025. - CFFO per share for the six months ended June 30, 2026, was $0.54, compared to $0.55 for the same period in 2025. #### Adjusted EBITDA - Adjusted EBITDA for the three months ended June 30, 2026, was $90.3 million, up from $87.6 million in the prior year period. - For the six months ended June 30, 2026, Adjusted EBITDA was $176.7 million, an increase from $173.3 million in the prior year period. ### Operational Metrics #### Same-Store Portfolio Net Operating Income (NOI) - For the three months ended June 30, 2026, same-store portfolio NOI grew by 1.2% compared to the prior year, driven by a 0.9% increase in rental revenues and a 0.5% increase in property operating expenses. - The NOI margin increased by 20 basis points to 62.7% for the three months ended June 30, 2026. - Average occupancy for the same-store portfolio in Q2 2026 decreased by 30 basis points to 95.0% year-over-year, while the portfolio average rental rate increased by 0.4% to $1,597. - For the six months ended June 30, 2026, same-store portfolio NOI increased by 1.1% compared to the prior year, with rental revenues increasing by 1.1% and property operating expenses increasing by 1.2%. - The NOI margin remained unchanged at 62.8% for the six months ended June 30, 2026. - Average occupancy for the six months ended June 30, 2026, decreased by 20 basis points to 95.1%, and the average rental rate increased by 0.3% to $1,595. #### Value Add Program - During the second quarter of 2026, Independence Realty Trust, Inc. completed renovations of 600 units, achieving a weighted average return on investment (ROI) of 16.4%. - The average cost per unit renovated was $20,477, resulting in an average monthly rent increase of $279 per unit over unrenovated comparable units for the second quarter of 2026. - For the six months ended June 30, 2026, 1,026 units were renovated with a weighted average ROI of 15.9%. - The average cost per unit was $20,430, and the average monthly rent increase per unit was $272 for the six months ended June 30, 2026. ### Capital Expenditures - For the three months ended June 30, 2026, recurring capital expenditures were $12.4 million ($360 per unit), Value Add Program expenditures were $13.6 million, non-recurring expenditures were $12.9 million, and development expenditures were $0.3 million. - For the six months ended June 30, 2026, recurring capital expenditures totaled $18.5 million ($537 per unit), Value Add Program expenditures were $22.1 million, non-recurring expenditures were $18.4 million, and development expenditures were $0.2 million. ### Balance Sheet and Liquidity - As of June 30, 2026, net debt to Adjusted EBITDA was 6.5x. - The weighted average effective interest rate on consolidated debt was 4.3%, with a weighted average maturity of 2.9 years. - 86.9% of debt was either fixed-rate or hedged as of June 30, 2026. - Independence Realty Trust, Inc. had approximately $503.1 million in liquidity, comprising unrestricted cash and cash equivalents and capacity under its unsecured revolver. - Total debt was $2,443.4 million, and total gross assets were $7,217.2 million as of June 30, 2026. - The total debt/total gross assets ratio was 33.9% as of June 30, 2026. - Net debt was $2,403.1 million as of June 30, 2026. ### Dividend Distribution - On May 13, 2026, the Board of Directors declared a quarterly dividend of $0.18 per share of common stock, representing a 5.9% increase over the prior quarterly rate of $0.17 per share. ### Outlook / Guidance Independence Realty Trust, Inc. affirmed its midpoint for Full Year 2026 Core FFO per share guidance, expecting it to be between $1.13 and $1.15. The company anticipates same-store NOI growth in the range of 1.0% to 2.0% and property revenue growth of 1.5% to 1.9%. Total operating expense growth is projected between 1.6% and 2.4% for the full year 2026. ### Related Stocks - [IRT.US](https://longbridge.com/en/quote/IRT.US.md) ## Related News & Research - [Independence Realty Trust Q2 EPS falls](https://longbridge.com/en/news/294733991.md) - [Colliers Securities Remains a Hold on Independence Realty (IRT)](https://longbridge.com/en/news/294753565.md) - [Independence Realty Trust Q2 FY26 EPS drops to $0.01; revenue rises 3.2% to $167.13 million](https://longbridge.com/en/news/294732041.md) - [Aurora Investment Managers LLC. Has $1.48 Million Position in Independence Realty Trust, Inc. $IRT](https://longbridge.com/en/news/290656089.md) - [Independence Realty Trust Announces Second Quarter 2026 Financial Results | IRT Stock News](https://longbridge.com/en/news/294732327.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**