Independence Realty Trust reported third-quarter earnings per share of $0.11, up from $0.03 in the prior-year period, driven by a $25.1 million net income compared to $6.9 million previously. Core funds from operations (CFFO) per share were $0.29, matching the previous quarter and year-ago level, while same-store portfolio net operating income grew 1.6%. The company also reaffirmed its full-year guidance for same-store revenues, NOI, and core FFO per share. Additionally, IRT highlighted progress on its pending merger with Centerspace, a transaction expected to create an $8 billion multifamily apartment REIT with approximately 44,400 units across 17 states. Independence Realty Trust is a real estate investment trust that owns and operates multifamily communities in non-gateway U.S. markets.
