Hsbc Holdings PLC Buys 69,118 Shares of Independence Realty Trust, Inc. $IRT

Hsbc Holdings PLC grew its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 22.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 383,503 shares of the real estate investment trust’s stock after buying 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 reporting period.

Several other large investors also recently made changes to their positions in IRT. NewEdge Advisors LLC bought a new stake in Independence Realty Trust in the 1st quarter valued at $209,000. Goldman Sachs Group Inc. boosted its stake in Independence Realty Trust by 16.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,935,487 shares of the real estate investment trust’s stock worth $62,320,000 after purchasing an additional 420,682 shares during the period. American Century Companies Inc. increased its holdings in 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 purchasing an additional 789 shares in the last quarter. Invesco Ltd. increased its holdings in 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 purchasing an additional 131,444 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Independence Realty Trust by 63.3% in 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 purchasing an additional 76,147 shares during the period. Institutional investors own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. UBS Group cut their price target on Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Weiss Ratings raised Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Zacks Research upgraded Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Wells Fargo & Company upped their price target on Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Finally, Wall Street Zen cut shares of Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.06.

Independence Realty Trust Price Performance

Shares of NYSE:IRT opened at $16.89 on Thursday. The company’s 50-day moving average price is $16.54 and its two-hundred day moving average price is $16.42. Independence Realty Trust, Inc. has a one year low of $14.60 and a one year high of $18.18. The stock has a market capitalization of $3.98 billion, a PE ratio of 84.47, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95.

Independence Realty Trust (NYSE:IRT) last announced 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. The company had revenue of $165.32 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. On average, analysts anticipate that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current fiscal year.

Independence Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be paid a $0.18 dividend. This is a positive change from Independence Realty Trust’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, June 26th. Independence Realty Trust’s dividend payout ratio is 360.00%.

Independence Realty Trust 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.