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Independence Realty Trust: Q1 Earnings Snapshot

By AP News - Apr 24, 2024, 04:52 PM ET

Last Updated - May 27, 2024, 01:08 AM EDT

Independence Realty Trust: Q1 Earnings Snapshot

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.

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