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Sep 30, 2023
Independence Realty Trust Q3 2023 Earnings Report
Announced third quarter 2023 financial results, initiated portfolio optimization and deleveraging strategy, and updated full year 2023 guidance.
Key Takeaways
Independence Realty Trust reported a net income of $3.9 million and a same-store NOI growth of 4.8% for the third quarter of 2023. The company has initiated a portfolio optimization and deleveraging strategy to sell non-core assets and reduce debt.
Net income available to common shares was $3.9 million.
Earnings per diluted share was $0.02.
Same-store portfolio net operating income grew by 4.8%.
Core Funds from Operations was $69.0 million, with CFFO per share at $0.30.
Forward Guidance
IRT reduced its EPS, FFO, and CFFO per share guidance ranges and its same store NOI guidance range.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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