Independence Realty Trust (IRT) Misses Q2 EPS by 1c, Revenues Miss; Offers FY18 EPS Outlook
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Independence Realty Trust Announces Second Quarter 2018 Financial Results and Reiterates Its Full Year Guidance Targets
August 2, 2018 7:30 AM EDTCompany Commences Capital Recycling Initiative
PHILADELPHIA--(BUSINESS WIRE)-- Independence Realty Trust, Inc. (IRT) (NYSE: IRT), a multifamily apartment REIT, today announced its second quarter 2018 financial results.
Second Quarter Highlights
Completed the roll out of the value add program at all five Phase 1 communities and started the rollout for Phase 2 communities. During Q2, we completed renovations in 464 units, achieving a weighted average return on investment of 20.7%. (See Value Add Update and Same Store NOI Guidance Impact section below for additional information.)... More