Independence Realty Trust — Third Quarter 2026 Earnings Summary

Independence Realty Trust reported third-quarter 2026 earnings per share of $0.11 and core funds from operations per share of $0.29, driven by a 1.6% growth in same-store portfolio net operating income. The company announced a definitive agreement to merge with Centerspace, a transaction expected to create an $8 billion enterprise value REIT with approximately 44,400 units upon closing in late 2026. During the quarter, the firm completed 744 value-add renovations, achieving a 14.2% weighted average return on investment, while maintaining an average occupancy rate of 95.0%. Management reaffirmed its full-year 2026 guidance for same-store revenues, same-store NOI, and core FFO per share, noting that the merger's financial impact is not expected to significantly alter the current year outlook.