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%
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
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
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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