Independence Realty Trust: Q1 Earnings Snapshot
By AP News
Published - Apr 24, 2024, 04:52 PM ET
Last Updated - May 27, 2024, 01:08 AM EDT
PHILADELPHIA (AP) — PHILADELPHIA (AP) — Independence Realty Trust Inc. (IRT) on Wednesday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Philadelphia, said it had funds from operations of $61.5 million, or 27 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $17.6 million, or 8 cents per share.
