- Q3 core FFO per share of $0.21 up one penny from a year ago.
- Same-store rental income up 3.4% Y/Y; operating expenses up 2.1%; NOI up 6%.
- Portfolio average occupancy down 20 basis points Y/Y to 93.2%; average rental rate up 3.5% to $867. NOI margin up 90 basis points to 51.7%.
- Full-year CFFO guidance is cut to $0.77-$0.79 per share from the previous $0.84-$0.88.
- Management internalization deal underway, with $62.2M paid to RAIT Financial (RAS) on Oct. 5 to retire RAIT's holdings of IRT for $8.55 per share.
- Conference call at 9:30 ET
- Previously: Independence Realty Trust misses by $0.01, misses on revenue (Oct. 28)
- IRT flat premarket