{ "schemaVersion": 1, "organisationId": "O-bce72b02d5e8472c958132d88281b710", "slug": "independence-realty-trust-inc", "name": "INDEPENDENCE REALTY TRUST, INC.", "updatedAt": "2026-10-02T13:59:59.359648Z", "sections": [ { "type": "OVERVIEW", "text": "Independence Realty Trust, Inc. (IRT) is a self-managed real estate investment trust focused on acquiring, owning, operating, improving, and managing multifamily apartment communities in non-gateway U.S. markets. The company describes its resident-focused purpose as providing “exceptional living experiences.” [P34419622][https://www.irtliving.com/who-we-are]\n\nIRT’s portfolio is concentrated in Southeastern and Midwestern states. As of June 30, 2026, it reported 116 properties with 33,898 apartment units. [P71575566][T16712742] The company was formed in 2009. [T9987153] For scale, FY2025 total consolidated revenue was $657.7 million. [T16712742]\n[P34419622][https://www.irtliving.com/who-we-are][P71575566][T16712742][T9987153][https://www.irtliving.com/who-we-are]", "updatedAt": "2026-10-02T13:59:59.359648Z" }, { "type": "PRODUCTS", "text": "Independence Realty Trust’s core offering is rental apartment homes, generally leased to residents for a year or less with monthly payments. Its wholly owned IRT Management provides leasing, rental, operating and property-management services; it managed 33,462 units at the end of 2025. Apartment layouts, finishes and community amenities differ by property: examples include quartz countertops, stainless-steel appliances, pools and fitness centers. [P115069524][P76993928][https://www.irtliving.com/Apartments/Texas/North-Richland-Hills/The-Delano-at-North-Richland-Hills?switch_cls%5Bid%5D=101824][https://www.irtliving.com/Apartments/Florida/Apopka/3030-at-Apopka][https://www.irtliving.com/Apartments/Georgia/Marietta/Rosemont-at-East-Cobb]\n\nThrough its Value Add Initiative, IRT renovates selected apartments and community areas. At December 31, 2025, the identified renovation pipeline covered 18,789 units at 61 properties; 11,445 units had been renovated, at an average cost of $17,372 per unit. IRT reported an approximately 16.1% return on total renovation costs. [P29670580] Resident-facing services include an online portal for rent payments and maintenance requests, flexible rent-payment options, rent-payment credit reporting, pet screening, referral rewards and, at select properties, Airbnb-friendly hosting. Online leasing and interactive 3D tours are also available, with offerings varying by community. [https://www.irtliving.com/living-here/resident-benefits][https://www.irtliving.com/living-here/leasing][https://www.irtliving.com/living-here/finding]\n\nFor 2025, rental and other property revenue was $656.5 million, comprising $595.6 million from same-store properties and $60.9 million from non-same-store properties. These are portfolio reporting categories, not separate apartment products. The company does not separately report revenue by apartment type, floor plan, amenity or individual ancillary service. [T12966116][T9987153][P76993928]\n[P115069524][P76993928][https://www.irtliving.com/Apartments/Texas/North-Richland-Hills/The-Delano-at-North-Richland-Hills?switch_cls%5Bid%5D=101824][https://www.irtliving.com/Apartments/Florida/Apopka/3030-at-Apopka][https://www.irtliving.com/Apartments/Georgia/Marietta/Rosemont-at-East-Cobb][P29670580][https://www.irtliving.com/living-here/resident-benefits][https://www.irtliving.com/living-here/leasing][https://www.irtliving.com/living-here/finding][T12966116][T9987153][https://www.irtliving.com/Apartments/Texas/North-Richland-Hills/The-Delano-at-North-Richland-Hills?switch_cls%5Bid%5D=101824][https://www.irtliving.com/Apartments/Florida/Apopka/3030-at-Apopka][https://www.irtliving.com/Apartments/Georgia/Marietta/Rosemont-at-East-Cobb][https://www.irtliving.com/living-here/resident-benefits][https://www.irtliving.com/living-here/leasing][https://www.irtliving.com/living-here/finding]", "updatedAt": "2026-10-02T13:59:59.359648Z" }, { "type": "GEOGRAPHY", "text": "Independence Realty Trust’s portfolio is entirely U.S.-based and spans 12 states: Alabama, Colorado, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee and Texas. The company describes its properties as primarily concentrated in the Southeast, with major markets including Atlanta, Dallas, Denver, Columbus, Indianapolis, Raleigh-Durham, Oklahoma City, Nashville, Houston and Tampa. [P34419622][P13082807]\n\nAs of June 30, 2026, the portfolio comprised 116 properties and 33,898 units across 23 markets. Atlanta was the largest market by share of quarterly net operating income (NOI), at 14.8%, followed by Dallas at 13.2% and Columbus at 7.6%; these figures are NOI shares, not revenue percentages. [T16712737] The company’s principal executive offices are in Philadelphia, Pennsylvania. [P34419622]\n[P34419622][P13082807][T16712737][T16712737][T16712737][T16712737][https://www.sec.gov/Archives/edgar/data/1466085/000143774926004376/irt20251231_10k.htm]", "updatedAt": "2026-10-02T13:59:59.359648Z" }, { "type": "SEGMENTS", "text": "Independence Realty Trust reports two operating segments: same-store and non-same-store multifamily properties. Its chief operating decision maker evaluates property results primarily using net operating income (NOI); the company does not report separate geographic or property-type segments. [P54718164][P32032787]\n\nThe same-store portfolio is reviewed at the start of each calendar year. A property is included if it was owned and was not a development property at the beginning of the prior year; properties held for sale or sold are excluded. The filings do not specify a separate minimum ownership period or stabilization test, nor do they provide a distinct eligibility rule for non-same-store properties. [P94794707][P96399415]\n\nBy approximate share of reportable-segment results, same-store properties contributed 90.7% of FY2025 revenue and 91.1% of NOI; non-same-store properties contributed 9.3% and 8.9%, respectively. In Q1 2026, same-store contributed 94.5% of revenue and 95.3% of NOI, while non-same-store contributed 5.5% and 4.7%. These percentages are calculated from the segment revenue and NOI reported for each period. [T9987153][T5844303]\n[P54718164][P32032787][P94794707][P96399415][T9987153][T9987153][T9987153][T9987153][T5844303][T5844303][T5844303][T5844303]", "updatedAt": "2026-10-02T13:59:59.359648Z" }, { "type": "HISTORY", "text": "Independence Realty Trust was formed in Maryland on March 26, 2009. [P9320756] It entered the public markets in August 2013, when it priced a public offering and began trading on NYSE MKT under the ticker IRT. [https://investors.irtliving.com/press-releases/press-release/2013/Independence-Realty-Trust-Inc-Announces-Pricing-of-Public-Offering/default.aspx]\n\nIRT expanded through acquisitions, including its 2015 purchase of Trade Street Residential, which added 19 properties and 4,989 units. [https://investors.irtliving.com/press-releases/press-release/2015/Independence-Realty-Trust-Completes-Acquisition-of-Trade-Street-Residential/default.aspx][https://investors.irtliving.com/press-releases/press-release/2015/Independence-Realty-Trust-Announces-Third-Quarter-2015-Financial-Results-and-Provides-Quarterly-Supplemental-Information/default.aspx] In 2016, the company completed the internalization of its management and separation from RAIT Financial Trust. [https://investors.irtliving.com/press-releases/press-release/2016/Independence-Realty-Trust-Completes-Management-Internalization/default.aspx] Its largest expansion came with the December 2021 merger with Steadfast Apartment REIT, which added 68 communities and 21,394 units. [P27377786][P119932079][https://investors.irtliving.com/press-releases/press-release/2021/Independence-Realty-Trust-and-Steadfast-Apartment-REIT-Complete-Strategic-Merger/default.aspx] In September 2024, IRT promoted CFO Jim Sebra to president while Scott Schaeffer continued as chairman and CEO. [https://investors.irtliving.com/press-releases/press-release/2024/Independence-Realty-Trust-Promotes-Jim-Sebra-to-President/default.aspx]\n[P9320756][P27377786][P119932079][https://investors.irtliving.com/press-releases/press-release/2013/Independence-Realty-Trust-Inc-Announces-Pricing-of-Public-Offering/default.aspx][https://investors.irtliving.com/press-releases/press-release/2015/Independence-Realty-Trust-Completes-Acquisition-of-Trade-Street-Residential/default.aspx][https://investors.irtliving.com/press-releases/press-release/2015/Independence-Realty-Trust-Announces-Third-Quarter-2015-Financial-Results-and-Provides-Quarterly-Supplemental-Information/default.aspx][https://investors.irtliving.com/press-releases/press-release/2016/Independence-Realty-Trust-Completes-Management-Internalization/default.aspx][https://investors.irtliving.com/press-releases/press-release/2021/Independence-Realty-Trust-and-Steadfast-Apartment-REIT-Complete-Strategic-Merger/default.aspx][https://investors.irtliving.com/press-releases/press-release/2024/Independence-Realty-Trust-Promotes-Jim-Sebra-to-President/default.aspx]", 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