Independence Realty Trust Reaffirms Guidance and Outlines Growth via Centerspace Deal
Independence Realty Trust (IRT) reported third-quarter results in line with market expectations, posting a core Funds From Operations (FFO) per share of $0.29. The company also achieved same-store Net Operating Income (NOI) growth of 1.6%, leading management to reaffirm the midpoint of its full-year guidance. Looking ahead, IRT is focusing on strategic expansion through the Centerspace deal, which is projected to deliver a 5% accretion to core FFO per share by 2027. Additionally, the company plans to enhance its property value proposition by installing 7,000 additional Wi-Fi units across its portfolio.