IRT(US:IRT)2020-05-07 18:14Financial Performance - Net loss allocable to common shares was $04 million, compared to a net income of $25 million in the same quarter of the previous year[7] - Core Funds From Operations (CFFO) increased to $176 million from $160 million in Q1 2019, with CFFO per share rising to $019 from $018[8] - Adjusted EBITDA was $241 million, slightly lower than the $247 million reported in the first quarter of 2019[8] Portfolio Operations - Same-store Net Operating Income (NOI) grew by 70% compared to the same period in 2019[7] - The portfolio average occupancy experienced a slight decrease of 10 basis points, settling at 927%[12] - The portfolio average rental rate increased by 49% to $1,089[12] Capital Activities and Liquidity - The company acquired a 251-unit community in Dallas, TX for $512 million[23] - As of March 31, 2020, IRT had approximately $258 million in total liquidity[11] Dividend and Outlook - IRT expects to reduce its quarterly common stock dividend from $018 per share to $012 per share starting in the second quarter of 2020[17]