PHILADELPHIA–(BUSINESS WIRE)–Independence Realty Trust, Inc. (NYSE: IRT) announced today that Farrell Ender, President of IRT, will be leaving the company effective May 1, 2023, to pursue other opportunities.
“We would like to thank Farrell for his dedication and commitment to IRT, while leading our operations through transformational growth,” said Scott Schaeffer, IRT’s Chairman and CEO. “Farrell was a key contributor to IRT becoming a leading public multifamily REIT, through our expansion efforts and the realization of our redevelopment initiatives. We wish him all the best in his future endeavors.”
“I truly appreciate the opportunity to have contributed to the success of IRT,” said Mr. Ender. “I am proud of the IRT team, our commitment to our residents and communities, and the returns we’ve provided our shareholders.”
In connection with Mr. Ender’s departure, IRT’s asset management, revenue management and marketing initiatives will be realigned to fall under operations, which will continue to be led by Mike Daley, Executive Vice President of Operations and People and Janice Richards, Senior Vice President of Operations. The company’s redevelopment initiatives, and acquisition and investment activities will continue to be managed by their respective senior department heads. They will now report directly to Mr. Schaeffer, who will take on the additional title of President. These organizational changes are expected to streamline the business and enhance operational excellence as we seek to cultivate an exceptional experience for our residents and employees.
First Quarter 2023 Dividend
On March 13, 2023, IRT’s board of directors declared a quarterly dividend of $0.14 per share of IRT common stock, payable on April 21, 2023 to stockholders of record at the close of business on March 31, 2023.
About Independence Realty Trust, Inc.
Independence Realty Trust, Inc. (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL. IRT’s investment strategy is focused on gaining scale near major employment centers within key amenity rich submarkets that offer good school districts and high-quality retail. IRT aims to provide stockholders attractive risk-adjusted returns through diligent portfolio management, strong operational performance, and a consistent return on capital through distributions and capital appreciation. More information may be found on the Company’s website www.irtliving.com.
