$IRT
Independence Realty Trust Inc Stock $irt

$irt Overview Financials Valuation SEC Filings Company Website

2022 Q1 Form 10-Q Financial Statement

#000146608522000012 Filed on May 04, 2022

Income Statement

Concept	2022 Q1	2021 Q1
Revenue	$150.4M	$55.11M
YoY Change	172.83%	7.33%
Cost Of Revenue	$61.44M	$22.78M
YoY Change	169.71%	4.07%
Gross Profit	$88.92M	$32.38M
YoY Change	174.62%	9.91%
Gross Profit Margin	59.14%	58.75%
Selling, General & Admin	$7.928M	$5.940M
YoY Change	33.47%	10.41%
% of Gross Profit	8.92%	18.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$49.09M	$16.16M
YoY Change	203.86%	8.94%
% of Gross Profit	55.21%	49.89%
Operating Expenses	$86.10M	$22.49M
YoY Change	282.85%	11.28%
Operating Profit	$2.821M	$9.890M
YoY Change	-71.48%	6.92%
Interest Expense	$20.53M	$8.385M
YoY Change	144.85%	-11.71%
% of Operating Profit	727.79%	84.78%
Other Income/Expense, Net	$380.0K	$0.00
YoY Change
Pretax Income	$76.88M	$1.090M
YoY Change	6953.21%	-394.59%
Income Tax	$0.00	$0.00
% Of Pretax Income	0.0%	0.0%
Net Earnings	$74.60M	$1.086M
YoY Change	6769.24%	-391.94%
Net Earnings / Revenue	49.61%	1.97%
Basic Earnings Per Share	$0.34	$0.01
Diluted Earnings Per Share	$0.34	$0.01
COMMON SHARES
Basic Shares Outstanding	220.8M shares	101.7M shares
Diluted Shares Outstanding	222.0M shares	102.8M shares

Balance Sheet

Concept	2022 Q1	2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$23.97M	$8.700M
YoY Change	175.53%	-84.84%
Cash & Equivalents	$23.97M	$8.653M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory	$80.99M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$105.0M	$8.700M
YoY Change	1106.47%	-84.84%
LONG-TERM ASSETS
Property, Plant & Equipment	$6.150B	$1.701B
YoY Change	261.49%	0.87%
Goodwill
YoY Change
Intangibles	$24.19M
YoY Change
Long-Term Investments	$43.54M
YoY Change
Other Assets	$26.79M	$4.400M
YoY Change	508.84%	-6.38%
Total Long-Term Assets	$6.282B	$1.719B
YoY Change	265.4%	1.15%
TOTAL ASSETS
Total Short-Term Assets	$105.0M	$8.700M
Total Long-Term Assets	$6.282B	$1.719B
Total Assets	$6.387B	$1.728B
YoY Change	269.64%	-1.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$81.50M	$24.50M
YoY Change	232.64%	15.02%
Accrued Expenses	$10.09M	$4.800M
YoY Change	110.29%	-7.69%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$7.879M	$42.50M
YoY Change	-81.46%	596.72%
Total Short-Term Liabilities	$126.8M	$84.10M
YoY Change	50.79%	69.22%
LONG-TERM LIABILITIES
Long-Term Debt	$2.534B	$905.1M
YoY Change	179.99%	-13.25%
Other Long-Term Liabilities	$12.91M	$23.60M
YoY Change	-45.3%	-32.18%
Total Long-Term Liabilities	$2.547B	$928.7M
YoY Change	174.27%	-13.87%
TOTAL LIABILITIES
Total Short-Term Liabilities	$126.8M	$84.10M
Total Long-Term Liabilities	$2.547B	$928.7M
Total Liabilities	$2.674B	$1.018B
YoY Change	162.77%	-9.78%
SHAREHOLDERS EQUITY
Retained Earnings	-$140.6M
YoY Change
Common Stock	$3.681B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$3.550B	$710.4M
YoY Change
Total Liabilities & Shareholders Equity	$6.387B	$1.728B
YoY Change	269.64%	-1.66%

Cashflow Statement

Concept	2022 Q1	2021 Q1
OPERATING ACTIVITIES
Net Income	$74.60M	$1.086M
YoY Change	6769.24%	-391.94%
Depreciation, Depletion And Amortization	$49.09M	$16.16M
YoY Change	203.86%	8.94%
Cash From Operating Activities	$40.58M	$20.64M
YoY Change	96.63%	76.63%
INVESTING ACTIVITIES
Capital Expenditures	-$19.84M	-$6.920M
YoY Change	186.68%	-10128.99%
Acquisitions
YoY Change
Other Investing Activities	$146.9M	-$370.0K
YoY Change	-39803.78%	-99.27%
Cash From Investing Activities	$127.1M	-$7.281M
YoY Change	-1845.17%	-87.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net		-$59.00K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-$182.6M	-$13.87M
YoY Change	1216.2%	-114.56%
NET CHANGE
Cash From Operating Activities	$40.58M	$20.64M
Cash From Investing Activities	$127.1M	-$7.281M
Cash From Financing Activities	-$182.6M	-$13.87M
Net Change In Cash	-$14.91M	-$513.0K
YoY Change	2806.63%	-101.07%
FREE CASH FLOW
Cash From Operating Activities	$40.58M	$20.64M
Capital Expenditures	-$19.84M	-$6.920M
Free Cash Flow	$60.42M	$27.56M
YoY Change	119.24%	137.26%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2022Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001466085
CY2022Q1	dei	Local Phone Number LocalPhoneNumber	270-4800
CY2022Q1	dei	Security Exchange Name SecurityExchangeName	NYSE
CY2022Q1	dei	Security12b Title Security12bTitle	Common stock
CY2022Q1	dei	Trading Symbol TradingSymbol	IRT
CY2022Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2022Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
CY2022Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2022Q1	dei	Amendment Flag AmendmentFlag	false
CY2022Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2022Q1	dei	Document Type DocumentType	10-Q
CY2022Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2022Q1	dei	Document Period End Date DocumentPeriodEndDate	2022-03-31
CY2022Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2022Q1	dei	Entity File Number EntityFileNumber	001-36041
CY2022Q1	dei	Entity Registrant Name EntityRegistrantName	INDEPENDENCE REALTY TRUST, INC.
CY2022Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	MD
CY2022Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	26-4567130
CY2022Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	1835 Market Street
CY2022Q1	dei	Entity Address City Or Town EntityAddressCityOrTown	Philadelphia
CY2022Q1	dei	Entity Address State Or Province EntityAddressStateOrProvince	PA
CY2022Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	19103
CY2022Q1	dei	City Area Code CityAreaCode	267
CY2022Q1	dei	Entity Address Address Line2 EntityAddressAddressLine2	Suite 2601
CY2022Q1	dei	Entity Shell Company EntityShellCompany	false
CY2022Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	221161162	shares
CY2022Q1	irt	Real Estate Investment Property Excluding Real Estate Held For Sale At Cost RealEstateInvestmentPropertyExcludingRealEstateHeldForSaleAtCost	6382324000	USD
CY2022Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2022Q1	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2022Q1	dei	Entity Small Business EntitySmallBusiness	false
CY2022Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
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CY2022Q1	irt	Real Estate Investment Property Excluding Real Estate Held For Sale Accumulated Depreciation RealEstateInvestmentPropertyExcludingRealEstateHeldForSaleAccumulatedDepreciation	283666000	USD
CY2021Q4	irt	Real Estate Investment Property Excluding Real Estate Held For Sale Accumulated Depreciation RealEstateInvestmentPropertyExcludingRealEstateHeldForSaleAccumulatedDepreciation	243475000	USD
CY2022Q1	irt	Real Estate Investment Property Excluding Real Estate Held For Sale Net RealEstateInvestmentPropertyExcludingRealEstateHeldForSaleNet	6098658000	USD
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CY2021Q1	us-gaap	Profit Loss ProfitLoss	1093000	USD
CY2021Q1	us-gaap	Dividends Common Stock DividendsCommonStock	12486000	USD
CY2021Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	13413000	USD
CY2021Q1	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	3348000	USD
CY2021Q1	us-gaap	Stock Repurchased And Retired During Period Value StockRepurchasedAndRetiredDuringPeriodValue	2862000	USD
CY2021Q1	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	-59000	USD
CY2021Q1	irt	Distribution To Noncontrolling Interest Declared Per Share DistributionToNoncontrollingInterestDeclaredPerShare	0.12
CY2021Q1	us-gaap	Minority Interest Decrease From Distributions To Noncontrolling Interest Holders MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	80000	USD
CY2021Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	715138000	USD
CY2022Q1	us-gaap	Repayments Of First Mortgage Bond RepaymentsOfFirstMortgageBond	1864000	USD
CY2021Q1	us-gaap	Repayments Of First Mortgage Bond RepaymentsOfFirstMortgageBond	7918000	USD
CY2022Q1	irt	Payments Reimbursements For Deferred Financing Costs PaymentsReimbursementsForDeferredFinancingCosts	49000	USD
CY2022Q1	us-gaap	Profit Loss ProfitLoss	76880000	USD
CY2021Q1	us-gaap	Profit Loss ProfitLoss	1093000	USD
CY2022Q1	us-gaap	Depreciation And Amortization DepreciationAndAmortization	78174000	USD
CY2021Q1	us-gaap	Depreciation And Amortization DepreciationAndAmortization	16552000	USD
CY2022Q1	us-gaap	Accretion Amortization Of Discounts And Premiums Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments	2754000	USD
CY2021Q1	us-gaap	Accretion Amortization Of Discounts And Premiums Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments	0	USD
CY2022Q1	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	919000	USD
CY2021Q1	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	364000	USD
CY2022Q1	us-gaap	Share Based Compensation ShareBasedCompensation	3498000	USD
CY2021Q1	us-gaap	Share Based Compensation ShareBasedCompensation	3326000	USD
CY2022Q1	us-gaap	Gains Losses On Sales Of Investment Real Estate GainsLossesOnSalesOfInvestmentRealEstate	94712000	USD
CY2021Q1	us-gaap	Gains Losses On Sales Of Investment Real Estate GainsLossesOnSalesOfInvestmentRealEstate	0	USD
CY2022Q1	irt	Amortization Or Adjustments Related To Derivative Instruments AmortizationOrAdjustmentsRelatedToDerivativeInstruments	314000	USD
CY2021Q1	irt	Amortization Or Adjustments Related To Derivative Instruments AmortizationOrAdjustmentsRelatedToDerivativeInstruments	302000	USD
CY2022Q1	irt	Policyholder Benefits And Claims Incurred Net Property Casualty And Liability Gain Loss PolicyholderBenefitsAndClaimsIncurredNetPropertyCasualtyAndLiabilityGainLoss	1393000	USD
CY2021Q1	irt	Policyholder Benefits And Claims Incurred Net Property Casualty And Liability Gain Loss PolicyholderBenefitsAndClaimsIncurredNetPropertyCasualtyAndLiabilityGainLoss	-359000	USD
CY2022Q1	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	380000	USD
CY2021Q1	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	0	USD
CY2022Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-4538000	USD
CY2021Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	90000	USD
CY2022Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-23326000	USD
CY2021Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-1321000	USD
CY2022Q1	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	-220000	USD
CY2021Q1	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	-88000	USD
CY2022Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-958000	USD
CY2021Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	141000	USD
CY2022Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	40580000	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	20638000	USD
CY2022Q1	us-gaap	Payments To Acquire Real Estate PaymentsToAcquireRealEstate	0	USD
CY2021Q1	us-gaap	Payments To Acquire Real Estate PaymentsToAcquireRealEstate	365000	USD
CY2022Q1	us-gaap	Payments To Acquire Real Estate And Real Estate Joint Ventures PaymentsToAcquireRealEstateAndRealEstateJointVentures	18605000	USD
CY2021Q1	us-gaap	Payments To Acquire Real Estate And Real Estate Joint Ventures PaymentsToAcquireRealEstateAndRealEstateJointVentures	0	USD
CY2022Q1	us-gaap	Proceeds From Sale Of Real Estate Heldforinvestment ProceedsFromSaleOfRealEstateHeldforinvestment	155639000	USD
CY2021Q1	us-gaap	Proceeds From Sale Of Real Estate Heldforinvestment ProceedsFromSaleOfRealEstateHeldforinvestment	0	USD
CY2022Q1	irt	Payments To Acquire Productive Assets Excluding Acquisition Of Real Estate Properties PaymentsToAcquireProductiveAssetsExcludingAcquisitionOfRealEstateProperties	11798000	USD
CY2021Q1	irt	Payments To Acquire Productive Assets Excluding Acquisition Of Real Estate Properties PaymentsToAcquireProductiveAssetsExcludingAcquisitionOfRealEstateProperties	6916000	USD
CY2022Q1	us-gaap	Payments To Develop Real Estate Assets PaymentsToDevelopRealEstateAssets	8040000	USD
CY2021Q1	us-gaap	Payments To Develop Real Estate Assets PaymentsToDevelopRealEstateAssets	0	USD
CY2022Q1	us-gaap	Proceeds From Insurance Settlement Investing Activities ProceedsFromInsuranceSettlementInvestingActivities	9870000	USD
CY2021Q1	us-gaap	Proceeds From Insurance Settlement Investing Activities ProceedsFromInsuranceSettlementInvestingActivities	0	USD
CY2022Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	127066000	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-7281000	USD
CY2022Q1	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	844000	USD
CY2021Q1	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	59000	USD
CY2022Q1	us-gaap	Proceeds From Unsecured Lines Of Credit ProceedsFromUnsecuredLinesOfCredit	16500000	USD
CY2021Q1	us-gaap	Proceeds From Unsecured Lines Of Credit ProceedsFromUnsecuredLinesOfCredit	9500000	USD
CY2022Q1	us-gaap	Repayments Of Unsecured Debt RepaymentsOfUnsecuredDebt	176000000	USD
CY2021Q1	us-gaap	Repayments Of Unsecured Debt RepaymentsOfUnsecuredDebt	0	USD
CY2021Q1	irt	Payments Reimbursements For Deferred Financing Costs PaymentsReimbursementsForDeferredFinancingCosts	0	USD
CY2022Q1	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	16916000	USD
CY2022Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-182557000	USD
CY2021Q1	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	12450000	USD
CY2022Q1	us-gaap	Payments Of Dividends Minority Interest PaymentsOfDividendsMinorityInterest	201000	USD
CY2021Q1	us-gaap	Payments Of Dividends Minority Interest PaymentsOfDividendsMinorityInterest	81000	USD
CY2022Q1	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	3183000	USD
CY2021Q1	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	2862000	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-13870000	USD
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-14911000	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-513000	USD
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	65671000	USD
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	13615000	USD
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	50760000	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	13102000	USD
CY2022Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	23971000	USD
CY2021Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	8653000	USD
CY2022Q1	us-gaap	Restricted Cash RestrictedCash	26789000	USD
CY2021Q1	us-gaap	Restricted Cash RestrictedCash	4449000	USD
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	50760000	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	13102000	USD
CY2022Q1	us-gaap	Nature Of Operations NatureOfOperations	Organization<div style="margin-top:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Independence Realty Trust, Inc. (“IRT”), is a self-administered and self-managed Maryland real estate investment trust (“REIT”) which was formed on March 26, 2009. Our primary purposes are to acquire, own, operate, improve and manage multifamily apartment communities in non-gateway markets. As of March 31, 2022, we owned and operated 119 multifamily apartment properties that contain 35,498 units across non-gateway U.S. markets including Atlanta, Columbus,</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Dallas, Denver, Houston, Indianapolis, Louisville, Memphis, Oklahoma City, and Raleigh. We own all of our assets and conduct substantially all of our operations through Independence Realty Operating Partnership, LP (“IROP”), of which we are the sole general partner. </span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As used herein, the terms “we,” “our” and “us” refer to Independence Realty Trust, Inc. and, as required by context, IROP and their subsidiaries. </span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On July 26, 2021, we, together with IROP, and IRSTAR Sub, LLC, a wholly-owned subsidiary of IRT (“IRT Merger Sub”), entered into an agreement and plan of merger (the “Merger Agreement”) with Steadfast Apartment REIT, Inc. (“STAR”) and its operating partnership, Steadfast Apartment REIT Operating Partnership, L.P. (“STAR OP”). Consummation of the mergers provided for in the Merger Agreement (which we refer to collectively as the “STAR Merger”) was subject to customary closing conditions, including, among others, receipt of IRT stockholder approval and STAR stockholder approval, which occurred on December 13, 2021. The STAR Merger closed on December 16, 2021. For further discussion, see Note 3: IRT and STAR Merger included in our 2021 Annual Report on Form 10-K.</span></div>
CY2022Q1	us-gaap	Number Of Real Estate Properties NumberOfRealEstateProperties	119	Property
CY2022Q1	us-gaap	Number Of Units In Real Estate Property NumberOfUnitsInRealEstateProperty	35498	Property
CY2022Q1	us-gaap	Use Of Estimates UseOfEstimates	Use of EstimatesThe preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.
CY2022Q1	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	26789000	USD
CY2021Q4	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	29699000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Asset Useful Life FiniteLivedIntangibleAssetUsefulLife	P6M
CY2022Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	29082000	USD
CY2021Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	396000	USD
CY2022Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear	24187000	USD
CY2022Q1	us-gaap	Business Combination Acquisition Related Costs BusinessCombinationAcquisitionRelatedCosts	1895000	USD
CY2022Q1	us-gaap	Depreciation Depreciation	49092000	USD
CY2021Q1	us-gaap	Depreciation Depreciation	16156000	USD
CY2022Q1	us-gaap	Impairment Of Long Lived Assets Held For Use ImpairmentOfLongLivedAssetsHeldForUse	1160000	USD
CY2021Q1	us-gaap	Impairment Of Long Lived Assets Held For Use ImpairmentOfLongLivedAssetsHeldForUse	1506000	USD
CY2022Q1	irt	Policyholder Benefits And Claims Incurred Net Property Casualty And Liability Gain Loss PolicyholderBenefitsAndClaimsIncurredNetPropertyCasualtyAndLiabilityGainLoss	1393000	USD
CY2021Q1	irt	Policyholder Benefits And Claims Incurred Net Property Casualty And Liability Gain Loss PolicyholderBenefitsAndClaimsIncurredNetPropertyCasualtyAndLiabilityGainLoss	-359000	USD
CY2022Q1	us-gaap	Real Estate Held For Development And Sale Net RealEstateHeldForDevelopmentAndSaleNet	48959000	USD
CY2021Q4	us-gaap	Real Estate Held For Development And Sale Net RealEstateHeldForDevelopmentAndSaleNet	41777000	USD
CY2022Q1	us-gaap	Real Estate Investments Joint Ventures RealEstateInvestmentsJointVentures	43541000	USD
CY2021Q4	us-gaap	Real Estate Investments Joint Ventures RealEstateInvestmentsJointVentures	24999000	USD
CY2022Q1	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-63000	USD
CY2021Q1	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	0	USD
CY2022Q1	us-gaap	Advertising Expense AdvertisingExpense	1272000	USD
CY2021Q1	us-gaap	Advertising Expense AdvertisingExpense	544000	USD
CY2022Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	23971000	USD
CY2022Q1	us-gaap	Cash And Cash Equivalents Fair Value Disclosure CashAndCashEquivalentsFairValueDisclosure	23971000	USD
CY2021Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	35972000	USD
CY2021Q4	us-gaap	Cash And Cash Equivalents Fair Value Disclosure CashAndCashEquivalentsFairValueDisclosure	35972000	USD
CY2022Q1	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	26789000	USD
CY2022Q1	irt	Restricted Cash And Cash Equivalents Fair Value Disclosure RestrictedCashAndCashEquivalentsFairValueDisclosure	26789000	USD
CY2021Q4	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	29699000	USD
CY2021Q4	irt	Restricted Cash And Cash Equivalents Fair Value Disclosure RestrictedCashAndCashEquivalentsFairValueDisclosure	29699000	USD
CY2022Q1	irt	Derivative Assets Carrying Value DerivativeAssetsCarryingValue	12944000	USD
CY2021Q4	us-gaap	Real Estate Investment Property At Cost RealEstateInvestmentPropertyAtCost	6462355000	USD
CY2022Q1	us-gaap	Derivative Fair Value Of Derivative Asset DerivativeFairValueOfDerivativeAsset	12944000	USD
CY2021Q4	irt	Derivative Assets Carrying Value DerivativeAssetsCarryingValue	2488000	USD
CY2021Q4	us-gaap	Derivative Fair Value Of Derivative Asset DerivativeFairValueOfDerivativeAsset	2488000	USD
CY2022Q1	irt	Derivative Liabilities Carrying Value DerivativeLiabilitiesCarryingValue	128000	USD
CY2022Q1	us-gaap	Derivative Asset Fair Value Gross Liability DerivativeAssetFairValueGrossLiability	128000	USD
CY2021Q4	irt	Derivative Liabilities Carrying Value DerivativeLiabilitiesCarryingValue	11896000	USD
CY2021Q4	us-gaap	Derivative Asset Fair Value Gross Liability DerivativeAssetFairValueGrossLiability	11896000	USD
CY2022Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	2808000	USD
CY2022Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	3139000	USD
CY2022Q1	us-gaap	Operating Lease Expense OperatingLeaseExpense	461000	USD
CY2021Q4	us-gaap	Fixtures And Equipment Gross FixturesAndEquipmentGross	272356000	USD
CY2022Q1	us-gaap	Real Estate Investment Property At Cost RealEstateInvestmentPropertyAtCost	6382324000	USD
CY2022Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0	USD
CY2021Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0	USD
CY2022Q1	us-gaap	Number Of Real Estate Properties NumberOfRealEstateProperties	119	Property
CY2022Q1	us-gaap	Number Of Units In Real Estate Property NumberOfUnitsInRealEstateProperty	35498	Property
CY2022Q1	us-gaap	Land Land	557926000	USD
CY2021Q4	us-gaap	Land Land	567507000	USD
CY2022Q1	us-gaap	Buildings And Improvements Gross BuildingsAndImprovementsGross	5550022000	USD
CY2021Q4	us-gaap	Buildings And Improvements Gross BuildingsAndImprovementsGross	5622492000	USD
CY2022Q1	us-gaap	Fixtures And Equipment Gross FixturesAndEquipmentGross	274376000	USD
CY2022Q1	us-gaap	Real Estate Investment Property Net RealEstateInvestmentPropertyNet	6098658000	USD
CY2021Q4	us-gaap	Real Estate Investment Property Net RealEstateInvestmentPropertyNet	6218880000	USD
CY2022Q1	us-gaap	Debt Instrument Term DebtInstrumentTerm	P5Y4M24D
CY2022Q1	us-gaap	Real Estate Investment Property Accumulated Depreciation RealEstateInvestmentPropertyAccumulatedDepreciation	283666000	USD
CY2021Q4	us-gaap	Real Estate Investment Property Accumulated Depreciation RealEstateInvestmentPropertyAccumulatedDepreciation	243475000	USD
CY2022Q1	us-gaap	Real Estate Heldforsale RealEstateHeldforsale	80992000	USD
CY2022Q1	irt	Number Of Units In Real Estate Property Held For Sale NumberOfUnitsInRealEstatePropertyHeldForSale	650	Property
CY2022Q1	irt	Sale Price Of Real Estate Property SalePriceOfRealEstateProperty	158050000	USD
CY2022Q1	us-gaap	Gains Losses On Sales Of Investment Real Estate GainsLossesOnSalesOfInvestmentRealEstate	94712000	USD
CY2022Q1	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	2489379000	USD
CY2022Q1	us-gaap	Debt Weighted Average Interest Rate DebtWeightedAverageInterestRate	0.034
CY2022Q1	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	16123000	USD
CY2022Q1	us-gaap	Debt Instrument Unamortized Discount Premium Net DebtInstrumentUnamortizedDiscountPremiumNet	-68832000	USD
CY2022Q1	us-gaap	Long Term Debt LongTermDebt	2542088000	USD
CY2022Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear	7879000	USD
CY2022Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Next Twelve Months LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths	10998000	USD
CY2022Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	407848000	USD
CY2022Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree	172292000	USD
CY2022Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour	459413000	USD
CY2022Q1	irt	Long Term Debt Maturities Repayments Of Principal After Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour	1430949000	USD
CY2021Q4	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	2650743000	USD
CY2021Q4	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	16993000	USD
CY2021Q4	us-gaap	Debt Instrument Unamortized Discount Premium Net DebtInstrumentUnamortizedDiscountPremiumNet	-71586000	USD
CY2021Q4	us-gaap	Long Term Debt LongTermDebt	2705336000	USD
CY2021Q4	us-gaap	Debt Weighted Average Interest Rate DebtWeightedAverageInterestRate	0.032
CY2021	us-gaap	Debt Instrument Term DebtInstrumentTerm	P5Y7M6D
CY2020Q4	irt	At Market Sales Agreement Maximum Offer Price Of Common Shares AtMarketSalesAgreementMaximumOfferPriceOfCommonShares	150000000	USD
CY2022Q1	us-gaap	Partners Capital Account Units Converted PartnersCapitalAccountUnitsConverted	10848	shares
CY2022Q1	us-gaap	Limited Partners Capital Account Units Outstanding LimitedPartnersCapitalAccountUnitsOutstanding	6970993	shares
CY2016Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	4300000	shares
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	220798692	shares
CY2021Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	101678865	shares
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	222045286	shares
CY2022Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.34
CY2021Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.01
CY2022Q1	us-gaap	Profit Loss ProfitLoss	76880000	USD
CY2021Q1	us-gaap	Profit Loss ProfitLoss	1093000	USD
CY2022Q1	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	2280000	USD
CY2021Q1	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	7000	USD
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	74600000	USD
CY2021Q1	us-gaap	Net Income Loss NetIncomeLoss	1086000	USD
CY2021Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	102763106	shares
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.34
CY2021Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.01
CY2022Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	8994165	shares
CY2021Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	3574515	shares
CY2022Q1	us-gaap	Number Of Real Estate Properties NumberOfRealEstateProperties	119	Property
CY2022Q1	us-gaap	Number Of Units In Real Estate Property NumberOfUnitsInRealEstateProperty	35498	Property

Files In Submission

Name	View Source	Status
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0001466085-22-000012-index.html	Edgar Link	pending
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0001466085-22-000012-xbrl.zip	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
irt-20220331.htm	Edgar Link	pending
irt-20220331.xsd	Edgar Link	pending
irt-20220331xexx311.htm	Edgar Link	pending
irt-20220331xexx312.htm	Edgar Link	pending
irt-20220331xexx321.htm	Edgar Link	pending
irt-20220331xexx322.htm	Edgar Link	pending
irt-20220331_cal.xml	Edgar Link	unprocessable
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irt-20220331_htm.xml	Edgar Link	completed
irt-20220331_lab.xml	Edgar Link	unprocessable
irt-20220331_pre.xml	Edgar Link	unprocessable
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
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Independence Realty Trust Inc Stock $irt

2022 Q1 Form 10-Q Financial Statement

#000146608522000012 Filed on May 04, 2022

Income Statement

Balance Sheet

Cashflow Statement

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$IRT Independence Realty Trust Inc Stock $irt

2022 Q1 Form 10-Q Financial Statement

#000146608522000012 Filed on May 04, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$IRT
Independence Realty Trust Inc Stock $irt