Independence Realty Trust (IRT) Misses Q3 FFO by 1c

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Independence Realty Trust Announces Third Quarter 2016 Financial Results

October 28, 2016 7:32 AM EDT

PHILADELPHIA--(BUSINESS WIRE)-- Independence Realty Trust, Inc. (IRT) (NYSE MKT: IRT) today announced its third quarter 2016 financial results. All per share results are reported on a diluted basis.

Results for the Quarter

Earnings per share (EPS) was $0.05 for the quarter ended September 30, 2016 as compared to $0.71 for the quarter ended September 30, 2015. Core Funds from Operations (CFFO) per share increased 5.0% to $0.21 for the quarter ended September 30, 2016 from $0.20 for the quarter ended September 30, 2015. Earnings before interest, taxes, depreciation and amortization and before acquisition expenses (Adjusted EBITDA), increased 56.5% to $18.4 million for the... More