Independence Realty Trust (IRT) Tops Q2 EPS by 5c

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Go back to Independence Realty Trust (IRT) Tops Q2 EPS by 5c

Independence Realty Trust Announces Second Quarter 2022 Financial Results and Closing of New Term Loan

July 27, 2022 4:05 PM EDT

Raises Full Year 2022 Guidance

PHILADELPHIA--(BUSINESS WIRE)-- Independence Realty Trust, Inc. (IRT) (NYSE: IRT), a multifamily apartment REIT, today announced its second quarter 2022 financial results.

Second Quarter Highlights

On July 25, 2022, IRT restructured its debt to secure a new $400 million term loan maturing in 2028, swapped LIBOR for SOFR across its unsecured floating rate credit facility, paid off $300 million of term loans maturing in 2024 and paid down the revolving credit facility by $100 million. The $400 million of term loan carries a lower interest rate spread... More