Independence Realty Trust: Q2 Earnings Snapshot
By AP News
Published - Aug 01, 2024, 02:07 AM ET
Last Updated - Aug 01, 2024, 02:07 AM EDT
PHILADELPHIA (AP) — PHILADELPHIA (AP) — Independence Realty Trust Inc. (IRT) on Wednesday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in Philadelphia, said it had funds from operations of $63.6 million, or 28 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 $10.4 million, or 5 cents per share.
