IRT(US:IRT)2022-11-22 16:37Portfolio Overview - IRT owns and operates 122 communities[2] with 36,176 units[3] - The company has approximately $3.8 billion in equity market capitalization[4] - 70% of IRT's Net Operating Income (NOI) comes from Sunbelt markets[2] Financial Performance and Guidance - The company anticipates double-digit NOI growth in 2022[8] - The company projects property revenue growth of 10.6% to 10.8% for same-store communities in 2022[8] - The company expects total operating expense growth of 5.3% to 5.8% for same-store communities in 2022[8] - The company anticipates property NOI growth of 13.25% to 14.25% for same-store communities in 2022[8] Value Add Program - The company has identified a value add pipeline of approximately 20,000 units[39] - Historical value add projects have generated a 21.6% return on investment[39] - The company estimates $959 million to $1.036 billion in incremental value creation through the value add program[40] Geographic Focus - The top 10 markets account for 72% of the company's units and 70% of its NOI[26] - Atlanta represents 15% of IRT's NOI[13] - Dallas represents 11% of IRT's NOI[14]