Hsbc Holdings PLC Raises Position in Independence Realty Trust, Inc. $IRT

Hsbc Holdings PLC lifted its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 22.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 383,503 shares of the real estate investment trust’s stock after acquiring an additional 69,118 shares during the quarter. Hsbc Holdings PLC’s holdings in Independence Realty Trust were worth $6,704,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. IFM Investors Pty Ltd grew its holdings in Independence Realty Trust by 1.6% during the fourth quarter. IFM Investors Pty Ltd now owns 38,532 shares of the real estate investment trust’s stock worth $674,000 after acquiring an additional 607 shares during the period. Global Retirement Partners LLC boosted its position in shares of Independence Realty Trust by 15.9% during the 4th quarter. Global Retirement Partners LLC now owns 4,921 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 676 shares in the last quarter. CWM LLC boosted its position in shares of Independence Realty Trust by 1.8% during the 4th quarter. CWM LLC now owns 39,365 shares of the real estate investment trust’s stock worth $688,000 after purchasing an additional 712 shares in the last quarter. Huntington National Bank grew its stake in shares of Independence Realty Trust by 46.4% during the 3rd quarter. Huntington National Bank now owns 2,289 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 725 shares during the period. Finally, Farther Finance Advisors LLC grew its position in Independence Realty Trust by 70.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 747 shares during the period. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IRT has been the topic of several research analyst reports. Wall Street Zen lowered Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Zacks Research raised Independence Realty Trust from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Weiss Ratings downgraded Independence Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 4th. Barclays upped their target price on Independence Realty Trust from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Finally, Wells Fargo & Company raised their price target on Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Independence Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $20.06.

Independence Realty Trust Price Performance

Independence Realty Trust stock opened at $16.94 on Friday. The stock has a market capitalization of $3.99 billion, a P/E ratio of 84.68, a P/E/G ratio of 1.87 and a beta of 0.96. Independence Realty Trust, Inc. has a 12-month low of $14.60 and a 12-month high of $18.18. The firm’s 50-day moving average is $16.35 and its two-hundred day moving average is $16.41.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.23. The company had revenue of $165.32 million during the quarter, compared to the consensus estimate of $166.35 million. Independence Realty Trust had a return on equity of 1.35% and a net margin of 7.27%.Independence Realty Trust’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 EPS. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. As a group, analysts forecast that Independence Realty Trust, Inc. will post 1.14 EPS for the current year.

Independence Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, June 26th. This is an increase from Independence Realty Trust’s previous quarterly dividend of $0.17. Independence Realty Trust’s payout ratio is currently 340.00%.

Independence Realty Trust Company Profile

Independence Realty Trust is a self-administered equity real estate investment trust that acquires, redevelops and manages multi-family communities. The company focuses on workforce housing, targeting Class A and B garden-style apartments in suburban and urban infill locations. Its core activities include sourcing value-add acquisitions, overseeing property renovations and delivering in-house property management services to optimize rental income and occupancy levels.

Headquartered in Wayne, Pennsylvania, Independence Realty Trust maintains a geographically diverse portfolio across several high-growth U.S.