Business Details. For any day, an amount (expressed in basis points per annum) equal to the average market cost to Dealer (or any affiliate of Dealer) of borrowing a number of Shares equal to the Number of Shares to hedge its exposure to this Transaction plus 0.25%. The blue-chip apartment REITs mostly have Debt/EBITDA well below 6. Island Stock Transfer. Independence Realty Trust Inc Tax and Indemnifiable Tax, each as defined in Section14 of the Agreement shall not include any withholding tax imposed or collected pursuant to Sections 1471 through 1474 of the United States Internal Revenue Code (the Code), any current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section1471(b)of the Code, or any fiscal or regulatory legislation, rulesor practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections of the Code (a FATCA Withholding Tax). WebIndependence Realty Trust Leasing Agent in the United States makes about $18.26 per hour. Box 505000 Louisville, KY 40233 (312) 360-5354 Independence Realty Trust, Inc. (NYSE: IRT) is a real estate investment trust that owns and operates multifamily apartment properties across non-gateway U.S. Independence Realty Trust has an annual dividend of $0.64 per share, with a forward yield of 3.97%. This will get their Debt/EBITDA into the mid-8s, below where they were in 2020. Independence Realty Trust Independence Realty Trust Inc My exit was in February 2021 with a nice 25% gain. But then there is the question of whether the present valuation is high or low. Comprehensive Transfer Agent Services | EQ - Equiniti In order to fund the growth discussed above, IRT needs retained earnings. I am not receiving compensation for it (other than from Seeking Alpha). 5 REITs Now Hitting New 2022 Lows - Ventas (NYSE:VTR), Dealer acknowledges and agrees that, except in the case of a Private Placement Settlement, Dealer (or its agents or affiliates, as applicable) shall use any Shares delivered by Counterparty to Dealer on any Settlement Date to return to securities lenders to close out borrowings created by Dealer (or its agents or affiliates, as applicable) in connection with its hedging activities related to exposure under the Transaction or in a manner that Dealer otherwise believes in good faith and based on the advice of counsel to be in compliance with applicable securities law. This Confirmation evidences a complete and binding agreement between Dealer and Counterparty as to the terms of the Transaction and replaces any previous agreement between the parties with respect to the subject matter hereof. The combined company will have a pipeline of approximately 20,000 units available for future redevelopment through our proven and robust value-add program. WebSee all 179 apartments and houses for rent in Independence, UT, including cheap, affordable, luxury and pet-friendly rentals. Applicable, provided that Section12.1(d)of the Equity Definitions shall be amended by replacing the reference therein to 10% with a reference to 20%. unwinding its commercially reasonable hedge position in connection with such Settlement), plus commercially reasonable commissions not to exceed USD 0.03 per Share. We provide tips to host a successful housewarming party in your apartment. Independence Realty Trust, Inc. (IRT) - Stock Analysis Independence Realty Trust Inc I discuss these NOI growth rates below. Do the numbers hold clues to what lies ahead for the stock? Explore. Veo One is loading - TDA Institutional Independence Realty Trust This letter agreement constitutes a Confirmation as referred to in the Agreement specified below. He wrote his first Monte Carlo model aimed at investments in 2006. Transfer Agency & Registrar Services As your trusted advisor, EQ excels in share If the Early Valuation Date occurs during an Unwind Period, then (i)(A)the last Unwind Date of such Unwind Period shall be deemed to occur on the Early Valuation Date, (B)a Settlement shall occur in respect of such Unwind Period, to which the Settlement Method elected by Counterparty in respect of such Settlement shall apply (subject to the provisions under Settlement Terms above in respect of the applicable Settlement Method), and (C)the number of Settlement Shares for such Settlement shall be the number of Unwound Shares for such Unwind Period on the Early Valuation Date, and (ii)(A)the Early Valuation Date shall be a Valuation Date for an additional Physical Settlement (provided that Dealer may in its good faith and reasonable discretion elect that the Settlement Method elected by Counterparty for the Settlement described in clause (i)of this sentence shall apply, in which case Dealer, in its good faith and in a commercially reasonable manner, will determine the Scheduled Trading Day that will be the First Unwind Date for such Cash Settlement or Net Share Settlement) and (B)the number of Settlement Shares for such additional Settlement shall be the number of Remaining Shares on the Early Valuation Date. Please confirm your agreement to be bound by the terms stated herein by executing the copy of this Confirmation enclosed for that purpose and returning it to us. will be applicable as if Physical Settlement applied to such Transaction. (ii) Section 12.9(b)(iii) of the Equity Definitions is hereby amended by inserting in the third line thereof,after the words to terminate the Transaction, the words or a portion of the Transaction affected by such Hedging Disruption. This unfortunately landed in my taxable account so selling would trigger a healthy capital gain (50k). THIS AGREEMENT AND PLAN OF MERGER (this Agreement), dated as of July 26, 2021, is made by and among Independence Realty Trust, Inc., a Maryland corporation (Parent), Independence Realty Operating Partnership, LP, a Delaware limited partnership (Parent OP), IRSTAR Sub, LLC, a Maryland limited liability I currently have Steadfast stock. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The stock price is now too high to support that expectation, even allowing for the growth discussed above. As part of the agreement, STAR will merge with and into IRT, with IRT surviving as the continuing public company. Any review by the Dealer and/or its affiliates of Counterparty, the Relevant Transactions or other matters relating to the Relevant Transactions will be performed solely for the benefit of Dealer and/or its affiliates, as the case may be, and shall not be on behalf of Counterparty. Their IRT share price forecasts range from $17.00 to $22.00. (iii)Notwithstanding any election to the contrary in any Settlement Notice, Physical Settlement shall be applicable: (A)to all of the Settlement Shares designated in such Settlement Notice if, on the date such Settlement Notice is received by Dealer, (I)the trading price per Share on the Exchange (as determined by the Calculation Agent in a commercially reasonable manner) is below 50% of the Initial Forward Price (the Threshold Price) or (II)Dealer, as Hedging Party, determines, in its reasonable good faith judgment, after using commercially reasonable efforts, that it would be unable to purchase a number of Shares in the market sufficient to unwind its commercially reasonable hedge position in respect of the portion of the Transaction represented by such Settlement Shares and satisfy its delivery obligation hereunder, if any, by the Maturity Date (taking into account any additional share forward or other equity derivative transaction (each, an Additional Equity Derivative Transaction) Counterparty has entered into) (x)in a manner that (A)would, if Dealer were Counterparty or an affiliated purchaser of Counterparty, be subject to the safe harbor provided by Rule10b-18(b)under the Exchange Act and (B)based on advice of counsel, would not raise material risks under applicable securities laws or (y)due to the lack of sufficient liquidity in the Shares (each, a Trading Condition); or. Despite the negatives mentioned above, you can see that since January 2020 the price of IRT has kept up with CPT and Mid-America Apartment Communities (MAA). Brokered by Platinum Real Estate Professionals Pllc, Brokered by Berkshire Hathaway HomeServices Utah - Salt Lake, Brokered by Summit Sotheby's International Realty, Brokered by KW Park City Keller Williams Real Estate, Brokered by Equity Real Estate - Luxury Group, Brokered by Windermere Real Estate-Utah (Park City Branch), Brokered by Wise Choice Real Estate - Central, Home buyers reveal: 'What I wish I had known before buying my first home', Selling your home? WebGUARANTY AGREEMENT from Independence Realty Trust, Inc. filed with the Securities and Exchange Commission. On December 16, 2021, the Company merged with and into IRT Merger Sub, with IRT Merger Sub surviving as a wholly-owned subsidiary of IRT. In combination with the value-add projects, IRT should generate between 1.5% and 2% of NOI growth from these activities. Initially, the Initial Number of Shares; provided that the Number of Shares issubject to reduction as provided in Section 3 below. Independence Realty Trust's most recent quarterly dividend payment of $0.16 per share was made to shareholders on Friday, July 21, 2023. Get the inside scoop on jobs, salaries, top office locations, and CEO insights. Independence Realty Trust, Inc. (NYSE: IRT) is a real estate investment trust that owns and operates multifamily apartment properties across non-gateway U.S. markets, including Atlanta, Dallas, Louisville, Memphis, Raleigh and Tampa. Is this happening to you frequently? CREDIT AGREEMENT Dated as of September 17, 2015 by and Our Apartment Rental Markets | IRT Living 5.Additional Representations and Warranties of Counterparty. 407-408-6662 Company profile for Independence Realty Trust, Inc. (IRT) with a description, list of executives, contact details and other key facts. To get into that blue-chip zone will clearly take IRT much of this decade. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. Here is their Pro Forma accounting of the combination. I dont mind paying that much for CPT, considering their strength and the red-hot-conditions in their markets. Stock down 5% today on record volume of 8+ million shares. Don't neglect these 6 maintenance tasks - or else, Debunked! Steadfast Apartment REIT, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended of September 30, 2015. The Capped Number shall be subject to adjustment only on account of (x)Potential Adjustment Events of the type specified in (1)Sections 11.2(e)(i)through (vi)of the Equity Definitions or (2)Section11.2(e)(vii)of the Equity Definitions so long as, in the case of this sub-clause (2), such event is within Counterpartys control, (y)Merger Events requiring corporate action of Counterparty (or any surviving entity of the Issuer hereunder in connection with any such Merger Event) and (z)an event for which an Announcement Date has occurred that is not outside Counterpartys control. IRT projects an additional $4.5M in NOI per year from redevelopment. To produce the indicated NOI growth, they will need to invest $25M to $30M per year. WebFind the right Trusted Choice Insurance agent near you. Realty Trust At todays price of $20.62, IRT is priced at nearly 34 times 2020 AFFO and 30 times projected 2022 AFFO. WebEX-4.5 2 irt-ex45_9.htm EX-4.5 irt-ex45_9.htm . For any Net Share Settlement, an amount equal to (i)the Forward Cash Settlement Amount divided by the Settlement Price plus (ii)a number of Shares, valued at the Settlement Price (determined as if, solely for purposes of this clause (ii), the reference to the phrase on each Unwind Date during the Unwind Period relating to such Settlement in the definition of Settlement Price were instead deemed to refer, in respect of any relevant Forward Price Reduction Date, to the phrase during a commercially reasonable period of time corresponding to the relevant Forward Price Reduction Date in order to account for the related Forward Price Reduction Amount during such period), equal to the aggregate Unwind Adjustment Amount(s), if any, for the relevant Unwind Period, as determined by the Calculation Agent. Independence Realty Trust irt-425.htm - SEC.gov Independence Realty Trust, Inc. (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. About the Upon consummation of the merger, it is expected that IRT will assume or repay a portion of the Steadfast Apartment's indebtedness in the aggregate amount of approximately $2.13 billion as of June 30, 2021.
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