Hsbc Holdings PLC Has $6.70 Million Stock Position in Independence Realty Trust, Inc. $IRT

Hsbc Holdings PLC boosted its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 22.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 383,503 shares of the real estate investment trust’s stock after purchasing an additional 69,118 shares during the quarter. Hsbc Holdings PLC owned about 0.16% of Independence Realty Trust worth $6,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Danske Bank A S bought a new stake in shares of Independence Realty Trust during the third quarter worth approximately $26,000. SHP Wealth Management bought a new position in Independence Realty Trust in the fourth quarter valued at approximately $30,000. Farther Finance Advisors LLC boosted its stake in Independence Realty Trust by 70.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 747 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Independence Realty Trust by 97.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,875 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 1,422 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Independence Realty Trust by 1,420.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,329 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 3,110 shares during the period. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Independence Realty Trust Stock Down 2.6%

Shares of NYSE IRT opened at $16.89 on Thursday. Independence Realty Trust, Inc. has a twelve month low of $14.60 and a twelve month high of $18.18. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 84.47, a P/E/G ratio of 1.94 and a beta of 0.95. The company’s fifty day moving average is $16.54 and its 200-day moving average is $16.42.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.23. The business had revenue of $165.32 million during the quarter, compared to analysts’ expectations of $166.35 million. Independence Realty Trust had a net margin of 7.27% and a return on equity of 1.35%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. On average, research analysts anticipate that Independence Realty Trust, Inc. will post 1.14 EPS for the current fiscal year.

Independence Realty Trust Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on IRT shares. Barclays increased their price target on Independence Realty Trust from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Wells Fargo & Company upped their price objective on Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Wall Street Zen lowered Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Jefferies Financial Group upgraded Independence Realty Trust to a “strong-buy” rating in a report on Friday, June 26th. Finally, Zacks Research upgraded Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.06.

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.