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Independence Realty Trust Inc is a real estate investment trust (REIT) that acquires, owns, operates, improves and manages multifamily apartment communities across non-gateway U.S. markets. It owns and operates multifamily apartment properties, across non-gateway U.S markets, including Atlanta, Columbus, Dallas, Denver, Houston, Indianapolis, Nashville, Oklahoma City, Raleigh-Durham, and Tampa. The company is focused on gaining scale within key amenity-rich submarkets that offer school districts, retail, and various employment centers.
Zacks Investment Research
Independence Realty Trust (IRT) Q3 FFO Meet EstimatesIndependence Realty Trust (IRT) reported quarterly FFO of $0.29 per share, matching consensus estimates but showing no year-over-year growth. The REIT has underperformed the S&P 500 by 26.5 percentage points this year, declining 15.8% versus the market's 10.7% gain. Despite favorable estimate revisions earning a Zacks Rank #2 (Buy), the company's residential REIT industry ranks in the bottom 35% of sectors.
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