vs
Side-by-side financial comparison of INDEPENDENCE REALTY TRUST, INC. (IRT) and Piedmont Realty Trust, Inc. (PDM). Click either name above to swap in a different company.
INDEPENDENCE REALTY TRUST, INC. is the larger business by last-quarter revenue ($165.3M vs $143.3M, roughly 1.2× Piedmont Realty Trust, Inc.). On growth, INDEPENDENCE REALTY TRUST, INC. posted the faster year-over-year revenue change (2.5% vs 0.4%). Over the past eight quarters, INDEPENDENCE REALTY TRUST, INC.'s revenue compounded faster (2.2% CAGR vs 0.0%).
Brandywine Realty Trust is a Philadelphia-based real estate investment trust (REIT) that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
IRT vs PDM — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $165.3M | $143.3M |
| Net Profit | — | $-45.0M |
| Gross Margin | — | — |
| Operating Margin | — | — |
| Net Margin | — | -31.4% |
| Revenue YoY | 2.5% | 0.4% |
| Net Profit YoY | — | -27.9% |
| EPS (diluted) | $0.00 | $-0.10 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $165.3M | $143.3M | ||
| Q4 25 | $167.1M | $142.9M | ||
| Q3 25 | $167.1M | $139.2M | ||
| Q2 25 | $162.2M | $140.3M | ||
| Q1 25 | $161.2M | $142.7M | ||
| Q4 24 | $161.0M | $143.2M | ||
| Q3 24 | $160.1M | $139.3M | ||
| Q2 24 | $158.4M | $143.3M |
| Q1 26 | — | $-45.0M | ||
| Q4 25 | $33.3M | $-43.2M | ||
| Q3 25 | $6.9M | $-13.5M | ||
| Q2 25 | $8.0M | $-16.8M | ||
| Q1 25 | $8.4M | $-10.1M | ||
| Q4 24 | $-1.0M | $-30.0M | ||
| Q3 24 | $12.4M | $-11.5M | ||
| Q2 24 | $10.4M | $-9.8M |
| Q1 26 | — | -31.4% | ||
| Q4 25 | 19.9% | -30.3% | ||
| Q3 25 | 4.1% | -9.7% | ||
| Q2 25 | 5.0% | -12.0% | ||
| Q1 25 | 5.2% | -7.1% | ||
| Q4 24 | -0.6% | -20.9% | ||
| Q3 24 | 7.7% | -8.3% | ||
| Q2 24 | 6.5% | -6.8% |
| Q1 26 | $0.00 | $-0.10 | ||
| Q4 25 | $0.14 | $-0.34 | ||
| Q3 25 | $0.03 | $-0.11 | ||
| Q2 25 | $0.03 | $-0.14 | ||
| Q1 25 | $0.04 | $-0.08 | ||
| Q4 24 | $-0.01 | $-0.25 | ||
| Q3 24 | $0.05 | $-0.09 | ||
| Q2 24 | $0.05 | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $23.3M | $2.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.4B | $1.5B |
| Total Assets | $6.1B | $4.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $23.3M | $2.3M | ||
| Q4 25 | $23.6M | $731.0K | ||
| Q3 25 | $23.3M | $3.0M | ||
| Q2 25 | $19.5M | $3.3M | ||
| Q1 25 | $29.1M | $2.9M | ||
| Q4 24 | $21.2M | $109.6M | ||
| Q3 24 | $17.6M | $133.6M | ||
| Q2 24 | $21.0M | $138.5M |
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $2.2B | ||
| Q3 25 | $2.3B | $2.2B | ||
| Q2 25 | $2.2B | $2.2B | ||
| Q1 25 | $2.3B | $2.2B | ||
| Q4 24 | $2.3B | $2.2B | ||
| Q3 24 | $2.3B | $2.2B | ||
| Q2 24 | $2.3B | $2.2B |
| Q1 26 | $3.4B | $1.5B | ||
| Q4 25 | $3.5B | $1.5B | ||
| Q3 25 | $3.5B | $1.5B | ||
| Q2 25 | $3.4B | $1.5B | ||
| Q1 25 | $3.5B | $1.6B | ||
| Q4 24 | $3.4B | $1.6B | ||
| Q3 24 | $3.4B | $1.6B | ||
| Q2 24 | $3.4B | $1.7B |
| Q1 26 | $6.1B | $4.0B | ||
| Q4 25 | $6.0B | $4.0B | ||
| Q3 25 | $6.1B | $4.0B | ||
| Q2 25 | $6.0B | $4.0B | ||
| Q1 25 | $6.0B | $4.0B | ||
| Q4 24 | $6.1B | $4.1B | ||
| Q3 24 | $5.9B | $4.1B | ||
| Q2 24 | $5.9B | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | 0.66× | 1.49× | ||
| Q3 25 | 0.66× | 1.43× | ||
| Q2 25 | 0.66× | 1.41× | ||
| Q1 25 | 0.65× | 1.40× | ||
| Q4 24 | 0.68× | 1.40× | ||
| Q3 24 | 0.68× | 1.36× | ||
| Q2 24 | 0.66× | 1.34× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IRT
| Rental and other property revenue | $165.2M | 100% |
| Other revenue | $109.0K | 0% |
PDM
Segment breakdown not available.
