PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (“IRT”) (NYSE MKT: IRT) today announced that it will be added to the MSCI US REIT Index (RMZ) effective as of the close of the market on November 30, 2016.
“We are pleased to be joining the public equity REITs that comprise the MSCI US REIT Index as of the market close on November 30, 2016,” said Scott Schaeffer, Chairman and CEO of IRT. “In addition to our expected internalization later this year, inclusion in the MSCI US REIT Index is an important milestone for IRT and its shareholders. IRT’s inclusion will broaden IRT’s visibility in the investment community and potentially open IRT to a larger institutional base.”
About Independence Realty Trust, Inc.
Independence Realty Trust, Inc. (‘IRT”) (NYSE MKT: IRT) is a real estate investment trust that seeks to own well-located apartment properties in geographic submarkets that it believes support strong occupancy and the potential for growth in rental rates. IRT seeks to provide stockholders with attractive risk-adjusted returns, with an emphasis on distributions and capital appreciation. While IRT is currently externally advised by a wholly-owned subsidiary of RAIT Financial Trust (“RAIT”) (NYSE: RAS), IRT expects to internalize its management by the end of 2016 as described in its most recent quarterly report filed with the Securities and Exchange Commission.