05:10 PM EDT, 09/03/2024 (MT Newswires) -- Independence Realty Trust ( IRT ) said, late Tuesday, it is commencing an underwritten public offering of 10 million shares.

The company expects to grant underwriters a 30-day option to purchase up to 1.5 million additional shares.

The offering is in connection with forward sale agreements that the company expects to enter into with Citigroup (C).

Shares of the company fell over 3% in after-hours activity.

Price: 19.97, Change: -0.71, Percent Change: -3.43