$CSR

Independence Realty Trust (IRT) faces opposition from activist investor Irenic Capital, which owns 2% of IRT, over its planned merger with Centerspace. Irenic argues the merger would weaken IRT, issuing shares below fair value, and prefers IRT sell itself for $18-$20 per share. IRT shares traded at $14.75, down 8% since the merger announcement. The combined REIT would have 44,000 units and an $8.1B enterprise valuation.

CENTERSPACE (CSR) filed an SEC Form 8-K — Entry into a Material Definitive Agreement. Item 1.01 Entry into a Material Definitive Agreement. As previously disclosed, on September 8, 2026, Centerspace, a North Dakota real estate investment trust (“Centerspace” or the “Company”), entered into an Agreement and Plan of Merger (the “Original Merger Agreement”) with Inde

Independence Realty Trust (IRT) and Centerspace agreed to an all-stock merger, creating an $8.1B apartment landlord with 44,354 units. IRT will issue 67.6M shares, with existing IRT shareholders owning 78% of the combined company. The deal, expected to close by Q4 2026, aims to increase IRT's 2027 Core FFO per share by 5% and expand its market capitalization by 28% to $5B. IRT will lead the combined company, retaining its name and ticker (IRT).

Centerspace (CSR) is merging with Independence Realty Trust (IRT) in an $8.1B deal, expected to close in Q4 2026. The merger creates a middle-market multifamily REIT. Hunton Andrews Kurth LLP served as REIT tax counsel for Centerspace.

Independence Realty Trust (IRT) is merging with Centerspace in an all-stock deal, creating an $8.1B apartment company. IRT shareholders will own 78% of the new entity, which will retain the IRT name, ticker, and headquarters. The combined company will manage 44,000 units across 17 states, expanding IRT's footprint. IRT CEO Scott Schaeffer sees the deal as a strategic growth move, adding geographic diversity.

Independence Realty Trust (IRT) is merging with Centerspace in an $8.1 billion all-stock deal, affirming a $0.18 quarterly dividend. IRT's shares have declined 10% in three months and 14% year-to-date. Analysts debate its valuation, with some seeing it as 20.6% undervalued at $19.14 per share, while others note its high P/E ratio of 82.2x.

Centerspace (CSR) closed at $58.29, 0.98% above the implied value of $57.72 from its merger with Independence Realty Trust (IRT) at $15.19. The premium is partly due to dividend differences, but mostly market positioning and IRT's future performance. The merger, valued at $8.1 billion, is expected to close by Q4, pending shareholder approval and other conditions.

Centerspace (CSR) rose 8% on an $8.1B merger deal with IRT. Academy Sports (ASO) gained 8% after raising its earnings outlook. Meta (META) rose 6% following an AI app announcement. Mission Produce (AVOC) popped 4% on earnings beat. Apple (AAPL) fell 1% ahead of an expected iPhone event. Casey's (CASY) dropped 15% on mixed results. Signet (SIG) jumped 19% on earnings beat and raised guidance. ServiceTitan (SVT) fell 30% on weak revenue guidance. Braze (BRZE) dropped 19% on revenue miss. Chime (CM

Independence Realty Trust (IRT) and Centerspace (CSR) agreed to merge in an all-stock deal, creating a multifamily REIT with an enterprise value of $8.1B. CSR shareholders will receive 3.800 IRT shares per CSR share. The deal is expected to close by Q4 2026 and is 5% accretive to IRT's 2027 Core FFO per share. IRT will lead the combined company and retain its name and ticker.

CENTERSPACE (CSR) filed an SEC Form 8-K — Entry into a Material Definitive Agreement. Exhibit 99.1 INDEPENDENCE REALTY TRUST AND CENTERSPACE An All-Stock Merger Creating an $8.1 Billion Multifamily REIT Focused on High-Growth, Non-Gateway Markets $8.1bn Enterprise Value 44,354 Units ~5% 2027E Core FFO Accretion Leverage Neutral The information contained in this pr