Independence Realty Trust Management

Management criteria checks 2/4

Independence Realty Trust's CEO is Scott Schaeffer, appointed in Feb 2013, has a tenure of 11.58 years. total yearly compensation is $4.85M, comprised of 14.4% salary and 85.6% bonuses, including company stock and options. directly owns 0.28% of the company’s shares, worth €11.78M. The average tenure of the management team and the board of directors is 0.7 years and 3.2 years respectively.

Key information

Scott Schaeffer

Chief executive officer

US$4.8m

Total compensation

CEO salary percentage	14.4%
CEO tenure	11.6yrs
CEO ownership	0.3%
Management average tenure	less than a year
Board average tenure	3.2yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Scott Schaeffer's remuneration changed compared to Independence Realty Trust's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	n/a	n/a	-US$9m
Mar 31 2024	n/a	n/a	-US$8m
Dec 31 2023	US$5m	US$700k	-US$17m
Sep 30 2023	n/a	n/a	US$57m
Jun 30 2023	n/a	n/a	US$69m
Mar 31 2023	n/a	n/a	US$51m
Dec 31 2022	US$5m	US$700k	US$117m
Sep 30 2022	n/a	n/a	US$112m
Jun 30 2022	n/a	n/a	US$108m
Mar 31 2022	n/a	n/a	US$118m
Dec 31 2021	US$5m	US$700k	US$45m
Sep 30 2021	n/a	n/a	US$29m
Jun 30 2021	n/a	n/a	US$19m
Mar 31 2021	n/a	n/a	US$16m
Dec 31 2020	US$3m	US$700k	US$15m
Sep 30 2020	n/a	n/a	US$25m
Jun 30 2020	n/a	n/a	US$29m
Mar 31 2020	n/a	n/a	US$43m
Dec 31 2019	US$4m	US$700k	US$46m
Sep 30 2019	n/a	n/a	US$37m
Jun 30 2019	n/a	n/a	US$37m
Mar 31 2019	n/a	n/a	US$25m
Dec 31 2018	US$4m	US$700k	US$26m
Sep 30 2018	n/a	n/a	US$18m
Jun 30 2018	n/a	n/a	US$14m
Mar 31 2018	n/a	n/a	US$30m
Dec 31 2017	US$3m	US$619k	US$30m

Compensation vs Market: Scott's total compensation ($USD4.85M) is above average for companies of similar size in the German market ($USD2.68M).

Compensation vs Earnings: Scott's compensation has been consistent with company performance over the past year.

CEO

Scott Schaeffer (62 yo)

11.6yrs

Tenure

US$4,846,528

Compensation

Mr. Scott F. Schaeffer serves as Chairman of the Board and Chief Executive Officer at Steadfast Apartment REIT, Inc. since December 2021. He has been the Chief Executive Officer at Independence Realty Trus...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Scott Schaeffer	CEO & Chairman	11.6yrs	US$4.85m	0.28% $ 11.8m
James Sebra	President	13.7yrs	US$2.04m	0.12% $ 5.1m
Jason Delozier	Chief Accounting Officer & Controller	7.3yrs	US$923.69k	0.012% $ 495.7k
Michele Weisbaum	General Counsel & Secretary	less than a year	US$369.13k	0.0045% $ 190.5k
Josh Kulick	Executive Vice President of Technology & Innovation	less than a year	no data	no data
Ted McHugh	Investor Relation Officer of Edelman Smithfield	no data	no data	no data
Pete Rushing	Senior Vice President of Sales & Marketing	less than a year	no data	no data
Janice Richards	Senior Vice President of Operations	no data	no data	no data
Gregory Marks	Senior Vice President of Business Development	less than a year	no data	no data
Mike Kernan	Senior Vice President of Redevelopment	less than a year	no data	no data
Jason Lynch	Senior Vice President of Acquisitions & Dispositions	less than a year	no data	no data
Alex Jorgensen	Investor Relations Officer	no data	no data	no data

0.7yrs

Average Tenure

55yo

Average Age

Experienced Management: 5O2's management team is not considered experienced ( 0.7 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Scott Schaeffer	CEO & Chairman	13.7yrs	US$4.85m	0.28% $ 11.8m
Richard Gebert	Independent Director	6.9yrs	US$199.55k	0.017% $ 738.2k
Craig Macnab	Independent Director	less than a year	no data	0.0025% $ 105.8k
DeForest Soaries	Independent Director	13.6yrs	US$194.55k	0.026% $ 1.1m
Ned Brines	Independent Director	2.8yrs	US$192.05k	0.022% $ 942.2k
Lisa Washington	Independent Director	3.7yrs	US$184.55k	0.0086% $ 362.8k
Ana del Rio	Director	2.8yrs	US$179.55k	0.029% $ 1.2m
Thomas Purcell	Lead Independent Director	2.8yrs	US$201.64k	0.019% $ 795.8k
Stephen Bowie	Independent Director	2.8yrs	US$184.55k	0.018% $ 769.5k
Melinda McClure	Independent Director	7.3yrs	US$194.97k	0.017% $ 738.2k

3.2yrs

Average Tenure

67yo

Average Age

Experienced Board: 5O2's board of directors are considered experienced (3.2 years average tenure).

Independence Realty Trust Management

Management criteria checks 2/4

Key information

Recent management updates

Independence Realty Trust, Inc., Annual General Meeting, May 15, 2024

High number of new directors

Chairman & CEO recently sold €2.8m worth of stock

High number of new directors

Independence Realty Trust, Inc. Announces Departure of Ella Neyland as Chief Operating Officer and Member of the Board of Directors, Effective December 15, 2022

High number of new directors

Recent updates

Second quarter dividend of US$0.16 announced

Independence Realty Trust Announces Third Quarter 2024 Dividend, Payable on October 18, 2024

Independence Realty Trust, Inc. has completed a Follow-on Equity Offering in the amount of $197.5 million.

Independence Realty Trust, Inc. has filed a Follow-on Equity Offering.

Independence Realty Trust, Inc. announced that it expects to receive $150 million in funding

Second quarter 2024 earnings released: EPS: US$0.046 (vs US$0.048 in 2Q 2023)

Independence Realty Trust Revises Earnings Guidance for the Full Year 2024

Independence Realty Trust, Inc. to Report Q2, 2024 Results on Jul 31, 2024

First quarter dividend of US$0.16 announced

First quarter 2024 earnings released: EPS: US$0.078 (vs US$0.039 in 1Q 2023)

Independence Realty Trust, Inc. Revises Earnings Guidance for the Full Year 2024

Independence Realty Trust, Inc. to Report Q1, 2024 Results on Apr 24, 2024

Independence Realty Trust, Inc., Annual General Meeting, May 15, 2024

Upcoming dividend of US$0.16 per share

Fourth quarter dividend of US$0.16 announced

Independence Realty Trust, Inc. Declares Quarterly Dividend, Payable on April 19, 2024

High number of new directors

Full year 2023 earnings released: FFO per share: US$1.2 (vs US$1.19 in FY 2022)

Full year 2023 earnings released: FFO per share: US$1.2 (vs US$1.19 in FY 2022)

Independence Realty Trust, Inc. Provides Earnings Guidance for Full Year 2024

Independence Realty Trust, Inc. to Report Q4, 2023 Results on Feb 14, 2024

Upcoming dividend of US$0.16 per share at 4.2% yield

Independence Realty Trust, Inc. Announces Dividend for the Fourth Quarter of 2023, Payable on January 19, 2024

Third quarter 2023 earnings released: FFO per share: US$0.3 (vs US$0.34 in 3Q 2022)

Independence Realty Trust, Inc. Announces Loss on Impairment of Real Estate Assets for Three Months Ended September 30, 2023

Independence Realty Trust, Inc. to Report Q3, 2023 Results on Oct 30, 2023

Upcoming dividend of US$0.16 per share at 4.3% yield

Independence Realty Trust, Inc. Announces Dividend for the Third Quarter of 2023, Payable on October 20, 2023

New major risk - Revenue and earnings growth

Independence Realty Trust, Inc. Revises Financial Guidance for 2023

Second quarter 2023 earnings released: EPS: US$0.048 (vs US$0.033 loss in 2Q 2022)

Independence Realty Trust, Inc. to Report Q2, 2023 Results on Jul 26, 2023

Upcoming dividend of US$0.16 per share at 3.5% yield

First quarter 2023 earnings released: FFO per share: US$0.3 (vs US$0.43 in 1Q 2022)

Full year 2022 earnings released: EPS: US$0.53 (vs US$0.41 in FY 2021)

Independence Realty Trust, Inc. Provides Earnings Guidance for the Year 2023

Independence Realty Trust, Inc. to Report Q4, 2022 Results on Feb 15, 2023

Upcoming dividend of US$0.14 per share

Independence Realty Trust, Inc. Announces Fourth Quarter 2022 Dividend, Payable on January 20, 2023

Chairman & CEO recently sold €2.8m worth of stock

High number of new directors

Independence Realty Trust, Inc. Announces Departure of Ella Neyland as Chief Operating Officer and Member of the Board of Directors, Effective December 15, 2022

Third quarter 2022 earnings released: FFO per share: US$0.3 (vs US$0.17 in 3Q 2021)

Independence Realty Trust, Inc. Provides Earnings Guidance for the Year 2022

Independence Realty Trust, Inc. to Report Q3, 2022 Results on Oct 26, 2022

Upcoming dividend of US$0.14 per share

Independence Realty Trust, Inc. (NYSE:IRT) acquired The Enclave at Tranquility Lakes for $97.9 million.

High number of new directors

Second quarter 2022 earnings released: US$0.033 loss per share (vs US$0.033 profit in 2Q 2021)

Independence Realty Trust, Inc. Revises Earnings Guidance for Fiscal Year 2022

Independence Realty Trust, Inc. to Report Q2, 2022 Results on Jul 27, 2022

Independence Realty Trust, Inc.(NYSE:IRT) dropped from Russell 2000 Dynamic Index

Upcoming dividend of US$0.14 per share

Independence Realty Trust, Inc. (NYSE:IRT) announces an Equity Buyback for $250 million worth of its shares.

Investor sentiment deteriorated over the past week

First quarter 2022 earnings released: EPS: US$0.34 (vs US$0.011 in 1Q 2021)

Independence Realty Trust, Inc. (NYSE:IRT) acquired Views of Music City (Phase 1), a 96-unit community in Nashville, TN from an unconsolidated joint ventures for $25.4 million.

High number of new directors

Independence Realty Trust, Inc. to Report Q1, 2022 Results on May 03, 2022

Now 20% undervalued

Upcoming dividend of US$0.12 per share

Now 22% undervalued

Independence Realty Trust, Inc. Provides Earnings Guidance for Year 2022

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

An unknown buyer acquired Raindance in Oklahoma City from Independence Realty Trust, Inc. (NYSE:IRT).

High number of new directors

Upcoming dividend of US$0.021 per share

Less than half of directors are independent

Independence Realty Trust, Inc. (NYSE:IRT) completed the acquisition of Steadfast Apartment REIT, Inc. (OTCPK:STFR).