InsiderClue
Stocks · Real estate · Real Estate Investment Trusts

INDEPENDENCE REALTY TRUST, INC.

IRT Clue Score46
United States Fiscal year ends December CIK 0001466085
$14.77 +0.89% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $14.77 −28.47% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 11 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue153.4Operating income39.7Net income−9.6EPS, diluted−0.19Fiscal year 2017Revenue161.2 +5.1%Operating income45.4Net income30.2EPS, diluted0.41Fiscal year 2018Revenue191.2 +18.6%Operating income51.8Net income26.3 −13.0%EPS, diluted0.30Fiscal year 2019Revenue203.2 +6.3%Net income45.9 +74.6%EPS, diluted0.51Fiscal year 2020Revenue211.9 +4.3%Net income14.8 −67.8%EPS, diluted0.16Fiscal year 2021Revenue250.3 +18.1%Net income44.6 +201.9%EPS, diluted0.41Fiscal year 2022Revenue628.5 +151.2%Net income117.2 +163.0%EPS, diluted0.53Fiscal year 2023Revenue661.0 +5.2%Net income−17.2 −114.7%EPS, diluted−0.08Fiscal year 2024Revenue640.0 −3.2%Net income39.3EPS, diluted0.17Fiscal year 2025Revenue657.7 +2.8%Net income56.6 +43.9%EPS, diluted0.24
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 153.4 161.2 191.2 203.2 211.9 250.3 628.5 661.0 640.0 657.7
Growth +5.1% +18.6% +6.3% +4.3% +18.1% +151.2% +5.2% −3.2% +2.8%
Operating income 39.7 45.4 51.8 n/a n/a n/a n/a n/a n/a n/a
Net income −9.6 30.2 26.3 45.9 14.8 44.6 117.2 −17.2 39.3 56.6
Growth −13.0% +74.6% −67.8% +201.9% +163.0% −114.7% +43.9%
EPS, diluted −0.19 0.41 0.30 0.51 0.16 0.41 0.53 −0.08 0.17 0.24

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin25.9%Net margin−6.2%Free cash flow margin−11.9%Fiscal year 2017Operating margin28.2%Net margin18.7%Free cash flow margin24.8%Fiscal year 2018Operating margin27.1%Net margin13.7%Free cash flow margin35.5%Fiscal year 2019Net margin22.6%Free cash flow margin36.8%Fiscal year 2020Net margin7.0%Free cash flow margin35.3%Fiscal year 2021Net margin17.8%Free cash flow margin20.8%Fiscal year 2022Net margin18.7%Fiscal year 2023Net margin−2.6%Fiscal year 2024Net margin6.1%Fiscal year 2025Net margin8.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 25.9% 28.2% 27.1% n/a n/a n/a n/a n/a n/a n/a
Net margin −6.2% 18.7% 13.7% 22.6% 7.0% 17.8% 18.7% −2.6% 6.1% 8.6%
Free cash flow margin −11.9% 24.8% 35.5% 36.8% 35.3% 20.8% n/a n/a n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−7.5Capital expenditure−10.7Free cash flow−18.2Buybacks−62.2Dividends paid−36.6Fiscal year 2017Operating cash flow54.3Capital expenditure−14.4Free cash flow40.0Dividends paid−52.3Fiscal year 2018Operating cash flow68.5Capital expenditure−0.6Free cash flow67.9 +70.0%Dividends paid−52.5Fiscal year 2019Operating cash flow75.0Capital expenditure−0.2Free cash flow74.8 +10.0%Dividends paid−64.7Fiscal year 2020Operating cash flow75.0Capital expenditure−0.1Free cash flow74.9 +0.2%Dividends paid−56.1Fiscal year 2021Operating cash flow52.3Capital expenditure−0.2Free cash flow52.1 −30.4%Dividends paid−49.8Fiscal year 2022Operating cash flow249.5Dividends paid−105.8Fiscal year 2023Operating cash flow262.2Buybacks0.0Dividends paid−134.9Fiscal year 2024Operating cash flow259.8Buybacks0.0Dividends paid−144.0Fiscal year 2025Operating cash flow282.1Buybacks−30.0Dividends paid−154.4
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −7.5 54.3 68.5 75.0 75.0 52.3 249.5 262.2 259.8 282.1
Capital expenditure −10.7 −14.4 −0.6 −0.2 −0.1 −0.2 n/a n/a n/a n/a
Free cash flow −18.2 40.0 67.9 74.8 74.9 52.1 n/a n/a n/a n/a
Growth +70.0% +10.0% +0.2% −30.4%
Buybacks −62.2 n/a n/a n/a n/a n/a n/a 0.0 0.0 −30.0
Dividends paid −36.6 −52.3 −52.5 −64.7 −56.1 −49.8 −105.8 −134.9 −144.0 −154.4

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash20.9Total debt743.8Net cash (debt)−722.9Shareholders’ equity506.8Debt to equity1.47Fiscal year 2017Cash9.3Total debt778.4Net cash (debt)−769.1Shareholders’ equity624.1Debt to equity1.25Fiscal year 2018Cash9.3Total debt985.5Net cash (debt)−976.2Shareholders’ equity623.0Debt to equity1.58Fiscal year 2019Cash9.9Total debt985.6Net cash (debt)−975.7Shareholders’ equity613.3Debt to equity1.61Fiscal year 2020Cash8.8Total debt945.7Net cash (debt)−936.9Shareholders’ equity708.1Debt to equity1.34Fiscal year 2021Cash36.0Total debt2,705.3Net cash (debt)−2,669.4Shareholders’ equity3,480.8Debt to equity0.78Fiscal year 2022Cash16.1Total debt2,631.6Net cash (debt)−2,615.6Shareholders’ equity3,596.7Debt to equity0.73Fiscal year 2023Cash22.9Total debt2,549.4Net cash (debt)−2,526.6Shareholders’ equity3,431.3Debt to equity0.74Fiscal year 2024Cash21.2Total debt2,333.7Net cash (debt)−2,312.5Shareholders’ equity3,442.3Debt to equity0.68Fiscal year 2025Cash23.6Total debt2,281.5Net cash (debt)−2,257.9Shareholders’ equity3,459.9Debt to equity0.66
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 20.9 9.3 9.3 9.9 8.8 36.0 16.1 22.9 21.2 23.6
Total debt 743.8 778.4 985.5 985.6 945.7 2,705.3 2,631.6 2,549.4 2,333.7 2,281.5
Net cash (debt) −722.9 −769.1 −976.2 −975.7 −936.9 −2,669.4 −2,615.6 −2,526.6 −2,312.5 −2,257.9
Shareholders’ equity 506.8 624.1 623.0 613.3 708.1 3,480.8 3,596.7 3,431.3 3,442.3 3,459.9
Debt to equity 1.47 1.25 1.58 1.61 1.34 0.78 0.73 0.74 0.68 0.66

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Balance sheet

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022† 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Assets
20.9 9.3 9.3 9.9 8.8 36.0 16.1 22.9 21.2 23.6
1,294.2 1,450.6 1,659.3 1,664.1 1,734.9 6,506.7 6,532.1 6,280.2 6,057.9 6,021.8
Growth +12.1% +14.4% +0.3% +4.3% +275.0% +0.4% −3.9% −3.5% −0.6%
Liabilities
743.8 778.4 985.5 985.6 945.7 2,705.3 2,631.6 2,549.4 2,333.7 2,281.5
calc 743.8 778.4 985.5 985.6 945.7 2,705.3 2,631.6 2,549.4 2,333.7 2,281.5
765.5 804.5 1,029.3 1,044.3 1,022.1 2,864.6 2,794.2 2,713.0 2,482.8 2,432.3
Equity
−62.2 −85.2 −122.3 −141.5 −178.8 −188.4 −191.7 −348.4 −454.1 −555.3
506.8 624.1 623.0 613.3 708.1 3,480.8 3,596.7 3,431.3 3,442.3 3,459.9
Growth +23.1% −0.2% −1.6% +15.5% +391.6% +3.3% −4.6% +0.3% +0.5%
Per share and net cash
calc −722.9 −769.1 −976.2 −975.7 −936.9 −2,669.4 −2,615.6 −2,526.6 −2,312.5 −2,257.9
69.0 84.7 89.2 91.1 101.8 220.8 224.1 224.7 230.8 237.2
calc 7.35 7.37 6.99 6.73 6.96 15.77 16.05 15.27 14.91 14.58

† The diluted share count jumps at 2022, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Lines marked calc are worked out here from filed figures; point at one for how.