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Companies / Real Estate / Independence Realty Trust, Inc.
IRT

Independence Realty Trust, Inc.

Ticker IRTPHILADELPHIA, PAFiscal year ends DecemberBook value per share $14.17Diluted shares 236.5M

Independence Realty Trust, Inc. (NYSE: IRT) is a self-managed real estate investment trust that acquires, owns, operates, improves and manages multifamily apartment communities in non-gateway U.S. markets. Its properties are generally leased to residents on terms of one year or less, and its property management… From the company’s description.

Over the twelve months to Sep 30, 2026, Independence Realty Trust, Inc. reported revenue of $671.80M, up 3.1% from a year earlier, and net income of $63.03M. Its operating margin was 15.6%, and operations generated $277.62M in cash. In fiscal 2025, it reported revenue of $657.70M, up 2.8% from fiscal 2024, and net income of $57.71M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$657.70MFY2025
+2.8% year over year
Last 12 mo $671.80M
18.23%FY2025
−1.4 percentage points
Last 12 mo 15.63%
$57.71MFY2025
+44.1% year over year
Last 12 mo $63.03M
1.63%FY2025
+0.5 percentage points
Last 12 mo 1.84%
Cash & financing
$282.15MFY2025
+8.6% year over year
Last 12 mo $277.62M
$-24.46MFY2025
+84.1% year over year
Last 12 mo $98.76M
0.66FY2025
Last 12 mo 0.72
234.8MFY2025
+4.1% year over year
Last 12 mo 236.5M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Independence Realty Trust, Inc. does

In the company’s own words

Independence Realty Trust, Inc. (NYSE: IRT) is a self-managed real estate investment trust that acquires, owns, operates, improves and manages multifamily apartment communities in non-gateway U.S. markets. Its properties are generally leased to residents on terms of one year or less, and its property management subsidiary handles rental, leasing, operations and management. The company focuses on Southeastern and Midwestern markets, with renovations and upgrades intended to improve selected communities, and also invests in development through joint ventures. It reports two segments, same-store and non-same-store, and aggregates its real estate assets for reporting purposes. At December 31, 2025, Independence Realty Trust owned and operated 114 apartment properties containing 33,462 units, and had interests in four unconsolidated joint ventures; it also employed 904 people during the year. The company operates through Independence Realty Operating Partnership, LP in an UPREIT structure and has elected to be taxed as a REIT. Its website is http://www.irtliving.com.

Company details
Sector
Real Estate
Industry (SIC)
REITs
Headquarters
PHILADELPHIA, PA
Fiscal year end
December
CIK
1466085
SIC
6798

Financial performance, year by year

Fiscal 2011–2025 · USD
$-86.77M$120.11M$327.00M$533.88M$740.76M201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Independence Realty Trust, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

320
funds hold it
0 of 35
superinvestors hold it
$1.78B
held by funds, at market
45.8%
of shares held by funds

Largest fund holders · Independence Realty Trust, Inc.’s weight in each

VANGUARD REAL ESTATE INDEX FUND
VNQ · VANGUARD SPECIALIZED FUNDS
—of fund net assets
iShares Core S&P Mid-Cap ETF
IJH · iShares Trust
0.11%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.12%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.05%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Independence Realty Trust, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Independence Realty Trust, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Independence Realty Trust, Inc.'s last four quarterly filings that the numbers alone won't show?”
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