Hsbc Holdings PLC Acquires 188,658 Shares of Independence Realty Trust, Inc. $IRT

Hsbc Holdings PLC lifted its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 49.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 572,161 shares of the real estate investment trust’s stock after purchasing an additional 188,658 shares during the period. Hsbc Holdings PLC’s holdings in Independence Realty Trust were worth $8,518,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. NewEdge Advisors LLC bought a new position in Independence Realty Trust during the first quarter valued at about $209,000. Goldman Sachs Group Inc. lifted its position in shares of Independence Realty Trust by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,935,487 shares of the real estate investment trust’s stock worth $62,320,000 after buying an additional 420,682 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Independence Realty Trust by 1.1% during the 2nd quarter. American Century Companies Inc. now owns 70,678 shares of the real estate investment trust’s stock worth $1,250,000 after acquiring an additional 789 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Independence Realty Trust by 13.0% during the 2nd quarter. Invesco Ltd. now owns 1,139,216 shares of the real estate investment trust’s stock worth $20,153,000 after acquiring an additional 131,444 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Independence Realty Trust by 63.3% during the 2nd quarter. First Trust Advisors LP now owns 196,463 shares of the real estate investment trust’s stock valued at $3,475,000 after acquiring an additional 76,147 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on IRT shares. Wall Street Zen downgraded Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Barclays upgraded Independence Realty Trust from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $19.00 to $20.00 in a report on Tuesday, July 14th. UBS Group reduced their price objective on shares of Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Wells Fargo & Company raised their target price on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Finally, Weiss Ratings upgraded shares of Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.19.

Independence Realty Trust Stock Down 0.8%

IRT opened at $16.34 on Thursday. The stock’s 50 day moving average price is $16.59 and its two-hundred day moving average price is $16.37. The firm has a market capitalization of $3.85 billion, a P/E ratio of 81.72, a price-to-earnings-growth ratio of 1.83 and a beta of 0.95. Independence Realty Trust, Inc. has a 12-month low of $14.60 and a 12-month high of $18.18.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings data 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. Independence Realty Trust had a return on equity of 1.35% and a net margin of 7.27%.The company had revenue of $165.32 million during the quarter, compared to analysts’ expectations of $166.35 million. During the same period in the prior year, the business earned $0.27 earnings per share. Independence Realty Trust’s revenue for the quarter was up 2.7% compared to the same quarter last year. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS.

Independence Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were paid a dividend of $0.18 per share. This is a positive change from Independence Realty Trust’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 4.4%. The ex-dividend date was Friday, June 26th. Independence Realty Trust’s dividend payout ratio is presently 360.00%.

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.