Independence Realty Q4 adjusted EBITDA misses expectations

Overview

• Multifamily REIT's Adjusted EBITDA for Q4 missed analyst estimates

• Company repurchased 1.9 mln shares for $30 mln

Outlook

• Independence Realty Trust expects 2026 EPS between $0.21 and $0.28

• Company forecasts 2026 CFFO per share of $1.12 to $1.16

• Company anticipates 2026 same-store NOI growth of (0.6%) to 2.2%

Result Drivers

• OCCUPANCY RATES - IRT maintained stable occupancy rates of 95.6% at the end of Q4 2025, contributing to steady revenue growth

• RENOVATION PROGRAM - Completed 2,003 unit renovations in 2025, achieving an average ROI of 15.3%

• BALANCE SHEET STRENGTH - Maintained conservative leverage with net debt to adjusted EBITDA of 5.7x, supporting strategic refinancing and share repurchases

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 4 "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 $20.00, about 17.2% above its February 10 closing price of $17.06

• The stock recently traded at 76 times the next 12-month earnings vs. a P/E of 65 three months ago

Press Release: ID:nBw3389Gha

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