Independence Realty Trust, Inc. $IRT Shares Bought by Hsbc Holdings PLC

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

A number of other hedge funds have also made changes to their positions in IRT. Solstein Capital LLC acquired a new stake in shares of Independence Realty Trust during the 3rd quarter worth about $25,000. Danske Bank A S acquired a new stake in Independence Realty Trust during the third quarter worth approximately $26,000. SHP Wealth Management purchased a new stake in shares of Independence Realty Trust during the 4th quarter worth approximately $30,000. Farther Finance Advisors LLC lifted its position in shares of Independence Realty Trust by 70.3% during the 4th 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 last quarter. Finally, Huntington National Bank lifted its position 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 buying an additional 725 shares during the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

IRT stock opened at $16.94 on Friday. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 84.68, a price-to-earnings-growth ratio of 1.87 and a beta of 0.96. The company has a fifty day moving average price of $16.35 and a 200 day moving average price of $16.41. 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 issued its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.23. The company had revenue of $165.32 million for the quarter, compared to the consensus estimate of $166.35 million. Independence Realty Trust had a net margin of 7.27% and a return on equity of 1.35%. Independence Realty Trust’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last 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 anticipate that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current year.

Independence Realty Trust Increases Dividend

The business also recently announced 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 an increase from Independence Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, June 26th. This represents a $0.72 annualized dividend and a dividend yield of 4.3%. Independence Realty Trust’s dividend payout ratio (DPR) is 340.00%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Weiss Ratings downgraded shares of Independence Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 4th. Zacks Research raised shares of Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. UBS Group dropped their price objective 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. Wells Fargo & Company lifted their target price 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, Barclays boosted 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. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” 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.