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

Hsbc Holdings PLC increased its holdings in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 31.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 754,681 shares of the real estate investment trust's stock after buying an additional 182,520 shares during the period. Hsbc Holdings PLC owned about 0.32% of Independence Realty Trust worth $12,615,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in IRT. IFM Investors Pty Ltd lifted its holdings in shares of Independence Realty Trust by 1.6% in the fourth quarter. IFM Investors Pty Ltd now owns 38,532 shares of the real estate investment trust's stock valued at $674,000 after purchasing an additional 607 shares in the last quarter. Global Retirement Partners LLC increased its stake in shares of Independence Realty Trust by 15.9% during the 4th quarter. Global Retirement Partners LLC now owns 4,921 shares of the real estate investment trust's stock worth $86,000 after purchasing an additional 676 shares in the last quarter. American Century Companies Inc. increased 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 purchasing an additional 789 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of Independence Realty Trust by 37.5% during the 3rd quarter. Sunbelt Securities Inc. now owns 4,270 shares of the real estate investment trust's stock worth $70,000 after purchasing an additional 1,165 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Independence Realty Trust by 2.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 48,563 shares of the real estate investment trust's stock worth $723,000 after purchasing an additional 1,200 shares during the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Stock Performance

Shares of IRT opened at $15.94 on Wednesday. Independence Realty Trust, Inc. has a fifty-two week low of $14.60 and a fifty-two week high of $17.98. The company has a market capitalization of $3.76 billion, a PE ratio of 88.58 and a beta of 0.93. The stock has a fifty day moving average of $16.68 and a two-hundred day moving average of $16.31.

Independence Realty Trust (NYSE:IRT - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.26). The business had revenue of $167.24 million for the quarter, compared to analyst estimates of $166.93 million. Independence Realty Trust had a return on equity of 1.22% and a net margin of 6.52%.Independence Realty Trust's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 EPS. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. As a group, equities research analysts forecast that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current fiscal year.

Independence Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Wednesday, September 30th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Wednesday, September 30th. Independence Realty Trust's dividend payout ratio (DPR) is presently 400.00%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IRT. Barclays upgraded Independence Realty Trust from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $19.00 to $20.00 in a report on Tuesday, July 14th. Wall Street Zen raised Independence Realty Trust from a "strong sell" rating to a "sell" rating in a report on Saturday, August 15th. 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 research report on Monday, June 1st. Royal Bank Of Canada increased their price objective on Independence Realty Trust from $18.00 to $19.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings raised shares of Independence Realty Trust from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Independence Realty Trust presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.56.

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.

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