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

Key Points

• Hsbc Holdings PLC increased its stake in Independence Realty Trust by 9.3%, acquiring an additional 15,110 shares, bringing its total ownership to 177,772 shares valued at approximately $3.77 million.
• Multiple hedge funds have also adjusted their holdings in Independence Realty Trust, with 88.25% of the stock currently owned by institutional investors.
• Recent analyst ratings for Independence Realty Trust show mixed sentiment, with price targets ranging from $20.00 to $25.00, highlighting the stock's consensus rating of "Moderate Buy."

Hsbc Holdings PLC raised its position in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,772 shares of the real estate investment trust's stock after acquiring an additional 15,110 shares during the quarter. Hsbc Holdings PLC owned approximately 0.08% of Independence Realty Trust worth $3,774,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its position in shares of Independence Realty Trust by 2.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,292 shares of the real estate investment trust's stock worth $442,000 after buying an additional 488 shares in the last quarter. Xponance Inc. boosted its position in shares of Independence Realty Trust by 2.1% during the 1st quarter. Xponance Inc. now owns 32,632 shares of the real estate investment trust's stock worth $693,000 after acquiring an additional 678 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of Independence Realty Trust by 131.4% during the 1st quarter. Brooklyn Investment Group now owns 1,254 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 712 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Independence Realty Trust by 0.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 252,949 shares of the real estate investment trust's stock worth $5,370,000 after acquiring an additional 731 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its position in shares of Independence Realty Trust by 10.7% during the 1st quarter. Lindbrook Capital LLC now owns 8,730 shares of the real estate investment trust's stock worth $185,000 after acquiring an additional 841 shares in the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Trading Up 1.3%

Shares of Independence Realty Trust stock traded up $0.23 on Monday, reaching $18.10. 2,085,526 shares of the stock were exchanged, compared to its average volume of 2,579,296. Independence Realty Trust, Inc. has a 1-year low of $16.59 and a 1-year high of $22.26. The business has a fifty day moving average price of $17.43 and a two-hundred day moving average price of $18.80. The firm has a market capitalization of $4.23 billion, a PE ratio of 150.79, a PEG ratio of 2.49 and a beta of 0.96.

Independence Realty Trust (NYSE:IRT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.28. Independence Realty Trust had a net margin of 4.31% and a return on equity of 0.78%. The business had revenue of $161.89 million for the quarter, compared to analyst estimates of $164.78 million. During the same period in the previous year, the business posted $0.28 earnings per share. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. Research analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IRT. Barclays lowered their price objective on Independence Realty Trust from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 12th. Wells Fargo & Company cut their target price on Independence Realty Trust from $24.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 27th. Compass Point upgraded Independence Realty Trust from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $22.00 to $24.00 in a research report on Thursday, July 31st. UBS Group decreased their target price on shares of Independence Realty Trust from $24.00 to $21.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. Finally, JMP Securities reiterated a "market outperform" rating and set a $25.00 target price on shares of Independence Realty Trust in a research note on Monday, May 5th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.11.

About Independence Realty Trust

Independence Realty Trust, Inc NYSE: IRT is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL.