$IRT
Independence Realty Trust Inc

2020 Form 10-K Financial Statement

#000156459021006672 Filed on February 18, 2021

View on sec.gov

Income Statement

Concept 2020 2019 Q4 2019 Q3
Revenue $211.9M $51.43M $51.30M
YoY Change 4.27% 3.25% 5.17%
Cost Of Revenue $91.50M $21.01M $1.901M
YoY Change 4.81% -2.19% 14.45%
Gross Profit $120.4M $30.41M $49.40M
YoY Change 3.88% 7.34% 4.84%
Gross Profit Margin 56.82% 59.13% 96.29%
Selling, General & Admin $15.10M $2.990M $3.110M
YoY Change 18.9% 13.69% 20.54%
% of Gross Profit 12.54% 9.83% 6.3%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $60.06M $14.22M $13.13M
YoY Change 17.26% 22.27% 28.49%
% of Gross Profit 49.88% 46.76% 26.57%
Operating Expenses $75.80M $17.20M $16.54M
YoY Change 15.55% 20.62% 23.8%
Operating Profit $44.60M $13.21M $32.86M
YoY Change -11.33% -6.11% -2.67%
Interest Expense $36.49M -$9.870M $9.783M
YoY Change -6.98% -0.7% 7.16%
% of Operating Profit 81.81% -74.72% 29.77%
Other Income/Expense, Net $0.00 $0.00 $0.00
YoY Change
Pretax Income $14.90M $24.02M $4.910M
YoY Change -67.89% 63.07% 1.45%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $14.77M $23.78M $4.863M
YoY Change -67.82% 63.13% 1.59%
Net Earnings / Revenue 6.97% 46.25% 9.48%
Basic Earnings Per Share $0.16 $0.26 $0.05
Diluted Earnings Per Share $0.16 $0.26 $0.05
COMMON SHARES
Basic Shares Outstanding 93.66M 90.03M
Diluted Shares Outstanding 94.69M 90.69M

Balance Sheet

Concept 2020 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.800M $9.900M $6.600M
YoY Change -11.11% 6.45% -13.16%
Cash & Equivalents $8.800M $9.888M $6.587M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $32.40M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $8.800M $9.900M $39.00M
YoY Change -11.11% -89.62% -75.06%
LONG-TERM ASSETS
Property, Plant & Equipment $1.711B $1.641B $1.590B
YoY Change 4.27% 5.97% 8.15%
Goodwill
YoY Change
Intangibles $410.0K $351.0K
YoY Change -44.89% -36.76%
Long-Term Investments
YoY Change
Other Assets $4.900M $4.500M $9.000M
YoY Change 8.89% -32.84% 8.43%
Total Long-Term Assets $1.726B $1.654B $1.614B
YoY Change 4.35% 5.77% 8.2%
TOTAL ASSETS
Total Short-Term Assets $8.800M $9.900M $39.00M
Total Long-Term Assets $1.726B $1.654B $1.614B
Total Assets $1.735B $1.664B $1.653B
YoY Change 4.25% 0.29% 0.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.40M $25.40M $32.20M
YoY Change 0.0% 11.4% 12.98%
Accrued Expenses $5.000M $5.400M $4.000M
YoY Change -7.41% 671.43% 700.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $48.50M
YoY Change
Total Short-Term Liabilities $91.20M $47.30M $52.70M
YoY Change 92.81% 19.14% 16.85%
LONG-TERM LIABILITIES
Long-Term Debt $897.2M $985.6M $979.3M
YoY Change -8.97% 0.01% 1.67%
Other Long-Term Liabilities $33.80M $11.50M $16.60M
YoY Change 193.91% 180.49% 348.65%
Total Long-Term Liabilities $931.0M $997.1M $995.9M
YoY Change -6.63% 0.76% 3.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $91.20M $47.30M $52.70M
Total Long-Term Liabilities $931.0M $997.1M $995.9M
Total Liabilities $1.027B $1.044B $1.049B
YoY Change -2.28% 1.46% 2.89%
SHAREHOLDERS EQUITY
Retained Earnings -$141.5M -$149.0M
YoY Change 15.68%
Common Stock $766.9M $763.8M
YoY Change 3.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $708.1M $613.3M $597.8M
YoY Change
Total Liabilities & Shareholders Equity $1.735B $1.664B $1.653B
YoY Change 4.25% 0.29% 0.3%

Cashflow Statement

Concept 2020 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income $14.77M $23.78M $4.863M
YoY Change -67.82% 63.13% 1.59%
Depreciation, Depletion And Amortization $60.06M $14.22M $13.13M
YoY Change 17.26% 22.27% 28.49%
Cash From Operating Activities $74.96M $15.64M $23.26M
YoY Change -0.06% 39.52% 7.59%
INVESTING ACTIVITIES
Capital Expenditures $84.00K -$11.80M -$13.90M
YoY Change -66.27% -2.32% 6.19%
Acquisitions $0.00
YoY Change
Other Investing Activities -$87.14M -$19.42M -$33.13M
YoY Change 43.39% -44.43% -48.66%
Cash From Investing Activities -$124.5M -$31.23M -$47.02M
YoY Change 17.05% -33.6% -39.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $148.2M
YoY Change 606.42%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 48.76M 14.46M 20.47M
YoY Change 63.73% -59.77% -62.08%
NET CHANGE
Cash From Operating Activities 74.96M 15.64M 23.26M
Cash From Investing Activities -124.5M -31.23M -47.02M
Cash From Financing Activities 48.76M 14.46M 20.47M
Net Change In Cash -818.0K -1.130M -3.290M
YoY Change -49.26% -1041.67% 62.07%
FREE CASH FLOW
Cash From Operating Activities $74.96M $15.64M $23.26M
Capital Expenditures $84.00K -$11.80M -$13.90M
Free Cash Flow $74.88M $27.44M $37.16M
YoY Change 0.16% 17.82% 7.06%

Facts In Submission

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CY2018 irt Noncash Or Part Noncash Debt Extinguishment Costs Included In Net Gain Loss On Sale Of Assets
NoncashOrPartNoncashDebtExtinguishmentCostsIncludedInNetGainLossOnSaleOfAssets
911000
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
413000
CY2019 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
804000
CY2018 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1750000
CY2020 us-gaap Other Income
OtherIncome
739000
CY2020 us-gaap Nature Of Operations
NatureOfOperations
<p id="NOTES_TO_CONSOLIDATED_FINAN" style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">NOTE 1: Organization </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:5%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 December 31, 2020, we owned and operated 56 (unaudited) multifamily apartment properties, totaling 15,667 (unaudited) units across non-gateway U.S markets, including Atlanta, Dallas, Louisville, Memphis, Raleigh, and Tampa. We own substantially all of our assets and conduct our operations through Independence Realty Operating Partnership, LP (“IROP”), of which we are the sole general partner.   </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:5%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:5%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">   As used herein, the terms “we,” “our” and “us” refer to IRT and, as required by context, IROP and their subsidiaries. </p>
CY2020Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
56
CY2020Q4 us-gaap Number Of Units In Real Estate Property
NumberOfUnitsInRealEstateProperty
15667
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:12pt;margin-left:2.26%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">c. Use of Estimates </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The 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. </p>
CY2020Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
4864000
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
4545000
CY2020 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P6M
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
631000
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1599000
CY2018 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3433000
CY2020 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
1171000
CY2019 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
1846000
CY2018 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
4153000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
781000
CY2020 us-gaap Depreciation
Depreciation
60056000
CY2019 us-gaap Depreciation
Depreciation
51216000
CY2018 us-gaap Depreciation
Depreciation
41788000
CY2020 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
3921000
CY2019 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
940000
CY2020 us-gaap Incurred Claims Property Casualty And Liability
IncurredClaimsPropertyCasualtyAndLiability
711000
CY2019 us-gaap Incurred Claims Property Casualty And Liability
IncurredClaimsPropertyCasualtyAndLiability
0
CY2018 us-gaap Incurred Claims Property Casualty And Liability
IncurredClaimsPropertyCasualtyAndLiability
46000
CY2020 irt Rental Revenue
RentalRevenue
203512000
CY2020 irt Other Property Revenue
OtherPropertyRevenue
7655000
CY2020 us-gaap Revenues
Revenues
211906000
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
644000
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1842000
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1142000
CY2020Q4 irt Number Of Deferred Payment Plans
NumberOfDeferredPaymentPlans
276
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
515000
CY2020Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
175000
CY2020 us-gaap Advertising Expense
AdvertisingExpense
2338000
CY2019 us-gaap Advertising Expense
AdvertisingExpense
2350000
CY2018 us-gaap Advertising Expense
AdvertisingExpense
2172000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8751000
CY2020Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
8751000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9888000
CY2019Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
9888000
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
4864000
CY2020Q4 irt Restricted Cash And Cash Equivalents Fair Value Disclosure
RestrictedCashAndCashEquivalentsFairValueDisclosure
4864000
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
4545000
CY2019Q4 irt Restricted Cash And Cash Equivalents Fair Value Disclosure
RestrictedCashAndCashEquivalentsFairValueDisclosure
4545000
CY2019Q4 irt Derivative Assets Carrying Value
DerivativeAssetsCarryingValue
953000
CY2019Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
953000
CY2020Q4 irt Derivative Liabilities Carrying Value
DerivativeLiabilitiesCarryingValue
29842000
CY2020Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
29842000
CY2019Q4 irt Derivative Liabilities Carrying Value
DerivativeLiabilitiesCarryingValue
7769000
CY2019Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
7769000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020 irt Percentage Of Minimum Ordinary Taxable Income Distributable To Stockholders
PercentageOfMinimumOrdinaryTaxableIncomeDistributableToStockholders
0.90
CY2020 irt Subsequent Disqualification Period If Failed To Qualify As Reit
SubsequentDisqualificationPeriodIfFailedToQualifyAsREIT
P4Y
CY2020 irt Dividends Characterized As Capital Gain Distribution Percentage
DividendsCharacterizedAsCapitalGainDistributionPercentage
0.20
CY2020 irt Dividends Characterized As Ordinary Income Percentage
DividendsCharacterizedAsOrdinaryIncomePercentage
0.37
CY2020 irt Dividends Characterized As Return Of Capital Percentage
DividendsCharacterizedAsReturnOfCapitalPercentage
0.43
CY2019 irt Dividends Characterized As Capital Gain Distribution Percentage
DividendsCharacterizedAsCapitalGainDistributionPercentage
0.69
CY2019 irt Dividends Characterized As Ordinary Income Percentage
DividendsCharacterizedAsOrdinaryIncomePercentage
0.16
CY2019 irt Dividends Characterized As Return Of Capital Percentage
DividendsCharacterizedAsReturnOfCapitalPercentage
0.15
CY2018 irt Dividends Characterized As Capital Gain Distribution Percentage
DividendsCharacterizedAsCapitalGainDistributionPercentage
0.37
CY2018 irt Dividends Characterized As Ordinary Income Percentage
DividendsCharacterizedAsOrdinaryIncomePercentage
0.39
CY2018 irt Dividends Characterized As Return Of Capital Percentage
DividendsCharacterizedAsReturnOfCapitalPercentage
0.24
CY2020Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
56
CY2020 irt Gains Losses On Sales Of Investment Real Estate During Period
GainsLossesOnSalesOfInvestmentRealEstateDuringPeriod
7843000
CY2019 irt Sale Price Of Real Estate Property
SalePriceOfRealEstateProperty
154500000
CY2019 irt Gains Losses On Sales Of Investment Real Estate During Period
GainsLossesOnSalesOfInvestmentRealEstateDuringPeriod
35197000
CY2019 irt Gains Losses On Sales Of Investment Real Estate Defeasance Costs
GainsLossesOnSalesOfInvestmentRealEstateDefeasanceCosts
7417000
CY2018 irt Sale Price Of Real Estate Property
SalePriceOfRealEstateProperty
77300000
CY2018 irt Gains Losses On Sales Of Investment Real Estate During Period
GainsLossesOnSalesOfInvestmentRealEstateDuringPeriod
10564000
CY2018 irt Gains Losses On Sales Of Investment Real Estate Defeasance Costs
GainsLossesOnSalesOfInvestmentRealEstateDefeasanceCosts
911000
CY2020Q4 us-gaap Land
Land
251365000
CY2019Q4 us-gaap Land
Land
234050000
CY2020Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
1527535000
CY2019Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
1453052000
CY2020Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
137870000
CY2019Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
109263000
CY2020Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1916770000
CY2019Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1796365000
CY2020Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
208618000
CY2019Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
158435000
CY2020Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1708152000
CY2019Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1637930000
CY2020Q4 irt Number Of Units In Real Estate Property Acquired
NumberOfUnitsInRealEstatePropertyAcquired
672
CY2020 irt Payments To Acquire Real Estate Including Transaction Fees
PaymentsToAcquireRealEstateIncludingTransactionFees
145231000
CY2020Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
145340000
CY2020Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Noncurrent Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets
89000
CY2020Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
1013000
CY2020Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
146442000
CY2020Q4 irt Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Accounts Payable And Accrued Expenses
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccountsPayableAndAccruedExpenses
261000
CY2020Q4 irt Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilitiesOther
382000
CY2020Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
643000
CY2020Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
145799000
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
84000
CY2019Q4 irt Number Of Units In Real Estate Property Acquired
NumberOfUnitsInRealEstatePropertyAcquired
806
CY2019 irt Payments To Acquire Real Estate Including Transaction Fees
PaymentsToAcquireRealEstateIncludingTransactionFees
128925000
CY2020 irt Sale Price Of Real Estate Property
SalePriceOfRealEstateProperty
59730000
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
949894000
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
4208000
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
945686000
CY2020Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.027
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
48484000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
66478000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
292438000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
336913000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
162562000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
43019000
CY2019Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
991178000
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5606000
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
985572000
CY2019Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.035
CY2016Q2 us-gaap Derivative Swaption Interest Rate
DerivativeSwaptionInterestRate
0.01145
CY2017Q2 us-gaap Derivative Swaption Interest Rate
DerivativeSwaptionInterestRate
0.011325
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
93660086
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
89799238
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87086585
CY2020 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1028354
CY2019 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
618248
CY2020 irt Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net Of Mark To Market
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNetOfMarkToMarket
-5352000
CY2019 irt Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net Of Mark To Market
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNetOfMarkToMarket
1139000
CY2018 irt Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net Of Mark To Market
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNetOfMarkToMarket
1372000
CY2020Q4 irt At Market Sales Agreement Maximum Offer Price Of Common Shares
AtMarketSalesAgreementMaximumOfferPriceOfCommonShares
150000000
CY2020 us-gaap Partners Capital Account Units Converted
PartnersCapitalAccountUnitsConverted
196974
CY2020Q4 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
674517
CY2019 us-gaap Partners Capital Account Units Converted
PartnersCapitalAccountUnitsConverted
9616
CY2019Q4 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
871491
CY2016Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
4300000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Expiration Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate
2026-05-12
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5635000
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3166000
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2524000
CY2020 irt Share Based Compensation Arrangement By Share Based Payment Award Performance Stock Units Vesting Percentage Upon Satisfaction On Performance Criteria
ShareBasedCompensationArrangementByShareBasedPaymentAwardPerformanceStockUnitsVestingPercentageUponSatisfactionOnPerformanceCriteria
0.50
CY2020 irt Share Based Compensation Arrangement By Share Based Payment Award Performance Stock Units Vesting Percentage Subject To Continues Service
ShareBasedCompensationArrangementByShareBasedPaymentAwardPerformanceStockUnitsVestingPercentageSubjectToContinuesService
0.50
CY2020 us-gaap Profit Loss
ProfitLoss
14877000
CY2019 us-gaap Profit Loss
ProfitLoss
46354000
CY2018 us-gaap Profit Loss
ProfitLoss
26610000
CY2020 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
109000
CY2019 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
458000
CY2018 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
322000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
14768000
CY2019 us-gaap Net Income Loss
NetIncomeLoss
45896000
CY2018 us-gaap Net Income Loss
NetIncomeLoss
26288000
CY2018 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
290406
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
94688440
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
90417486
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
87376991
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.16
CY2019 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.51
CY2018 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.30
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.16
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.51
CY2018 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.30
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1574517
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
871491
CY2018 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
881107
CY2020Q3 us-gaap Revenues
Revenues
54200000
CY2020Q1 us-gaap Revenues
Revenues
51350000
CY2020Q2 us-gaap Revenues
Revenues
52268000
CY2020Q4 us-gaap Revenues
Revenues
54088000
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-374000
CY2020Q2 us-gaap Profit Loss
ProfitLoss
799000
CY2020Q3 us-gaap Profit Loss
ProfitLoss
1092000
CY2020Q4 us-gaap Profit Loss
ProfitLoss
13360000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-372000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
789000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
1090000
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
13261000
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2019Q1 us-gaap Revenues
Revenues
49540000
CY2019Q2 us-gaap Revenues
Revenues
50956000
CY2019Q3 us-gaap Revenues
Revenues
51299000
CY2019Q4 us-gaap Revenues
Revenues
51428000
CY2019Q1 us-gaap Profit Loss
ProfitLoss
2566000
CY2019Q2 us-gaap Profit Loss
ProfitLoss
14856000
CY2019Q3 us-gaap Profit Loss
ProfitLoss
4912000
CY2019Q4 us-gaap Profit Loss
ProfitLoss
24020000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
2540000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
14709000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
4863000
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
23784000
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.16
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.16
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
CY2020 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
511000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
375000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
382000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
388000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
394000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
1996000
CY2019Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
1796365000
CY2018Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
1745640000
CY2017Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
1504156000
CY2020 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
145340000
CY2019 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
127908000
CY2018 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
270220000
CY2020 us-gaap Real Estate Improvements
RealEstateImprovements
35783000
CY2019 us-gaap Real Estate Improvements
RealEstateImprovements
45623000
CY2018 us-gaap Real Estate Improvements
RealEstateImprovements
41587000
CY2020 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
56797000
CY2019 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
121865000
CY2018 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
69915000
CY2020 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
SECScheduleIIIRealEstateWritedownOrReserveAmount
3921000
CY2019 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
SECScheduleIIIRealEstateWritedownOrReserveAmount
941000
CY2018 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
SECScheduleIIIRealEstateWritedownOrReserveAmount
408000
CY2020Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
1916770000
CY2019Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
1796365000
CY2018Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
1745640000
CY2020 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
59717000
CY2019 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
50955000
CY2018 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
41652000
CY2020 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
5613000
CY2019 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
11781000
CY2018 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
5139000
CY2020 irt Sec Schedule Iii Real Estate Accumulated Depreciation Write Offs
SECScheduleIIIRealEstateAccumulatedDepreciationWriteOffs
3921000
CY2019 irt Sec Schedule Iii Real Estate Accumulated Depreciation Write Offs
SECScheduleIIIRealEstateAccumulatedDepreciationWriteOffs
941000
CY2018 irt Sec Schedule Iii Real Estate Accumulated Depreciation Write Offs
SECScheduleIIIRealEstateAccumulatedDepreciationWriteOffs
408000
CY2020Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
208618000
CY2019Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
158435000
CY2018Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
120202000

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