Independence Realty Trust reports Q3 EPS CFFO 29c, consensus 30c

Reports Q3 revenue $166.888M, consensus $168.07M. “Third quarter same-store NOI growth of 2.7% and CFFO per share of $0.29 were in-line with our expectations. We remain committed to prioritizing stable occupancy, which will position us to capture improving rental rate growth as supply pressures continue to recede,” said Scott Schaeffer, Chairman and CEO. “I am also pleased to report bad debt during the third quarter improved to less than 1% of same-store revenues driven by improved processes and our investments in technology. We will continue to invest in technologies to drive further operational efficiencies that enhance the resident experience while benefiting shareholders.”