Independence Realty Trust, Inc.
irtliving.comWhat Do They Do?
Rents apartments to residents and owns and operates multifamily communities in non-gateway U.S. markets.
10-K for FY2025, filed Feb 17, 2026
How Do They Make Money?
IRT earns rental income from apartment leases; residents generally pay monthly, and leases usually run one year or less.
10-K for FY2025, filed Feb 17, 2026We apply FASB ASC Topic 842, “Leases” (“ASC 842”) with respect to our accounting for rental income. We primarily lease apartment units…View ↗
$657.7M
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10-K for FY2025, filed Feb 17, 2026
$657.7M ↗
Who Are Their Customers?
Residents rent apartments in the company's multifamily communities.
10-K for FY2025, filed Feb 17, 2026
Do Revenues Turn Into Profits?
Yes. It kept 9 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 17, 2026
10-K for FY2025, filed Feb 17, 2026
$56.6MView ↗
How Are They Changing?
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Sep 22, 2026
IRT amended its merger agreement with Centerspace
IRT elected the alternative structure for the company merger with Centerspace.
Sources
8-K, filed Sep 23, 2026
As previously disclosed, on September 8, 2026, Independence Realty Trust, Inc., a Maryland corporation (“IRT”), Independence Realty…View ↗
Growing. Revenue grew 2.6x in 4 years, from $250.3M in FY2021 to $657.7M in FY2025, about 27% a year.
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