IRT(US:IRT)2021-04-29 18:56Financial Performance Highlights - Net income available to common shares was $11 million for the quarter ended March 31, 2021, compared to a net loss of $04 million for the quarter ended March 31, 2020[6] - Earnings per diluted share were $001 for the quarter ended March 31, 2021, compared to $000 for the quarter ended March 31, 2020[6] - Same-store NOI grew by 53% for the quarter ended March 31, 2021, compared to the quarter ended March 31, 2020[6] - Core Funds From Operations (CFFO) reached $180 million for the quarter ended March 31, 2021, compared to $146 million for the quarter ended March 31, 2020, with CFFO per share at $018 versus $016 in the prior year[7] - Adjusted EBITDA was $264 million for the quarter ended March 31, 2021, compared to $241 million for the quarter ended March 31, 2020[8] Operational Metrics - Rent collections were strong, with 984% of rents billed collected during the quarter ended March 31, 2021[8] - The same-store portfolio saw a 260 basis points increase in average occupancy, reaching 953%[11] - The average rental rate for the same-store portfolio increased by 29% to $1,129[11] - Lease-over-lease effective rent growth was 59% in the first quarter of 2021 and 46% in the second quarter of 2021 to date[10, 18] Capital Activities and Guidance - The company updated its 2021 full-year guidance, projecting EPS per diluted share to be in the range of $05 to $08 and CFFO per diluted share to be in the range of $072 to $075[10, 24]