05:40 AM EDT, 04/25/2024 (MT Newswires) -- Independence Realty Trust ( IRT ) reported Q1 core funds from operations late Wednesday of $0.27 per diluted share, unchanged from a year earlier.

Analysts polled by Capital IQ expected $0.25.

Rental and other property revenue for the quarter ended March 31 was $160.3 million, down from $161.1 million a year earlier.

Analysts surveyed by Capital IQ expected $160.7 million.

For 2024, the retail-focused real estate investment trust maintained its previous guidance of core funds from operations of $1.12 to $1.16 per share. Analysts polled by Capital IQ expect $1.02.

Shares of the company were up more than 4% in recent Thursday premarket activity.

Price: 16.40, Change: +0.64, Percent Change: +4.06