754,681 Shares in Independence Realty Trust, Inc. $IRT Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new stake in Independence Realty Trust, Inc. (NYSE:IRT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 754,681 shares of the real estate investment trust’s stock, valued at approximately $12,615,000.

A number of other hedge funds have also recently added to or reduced their stakes in IRT. Canada Pension Plan Investment Board acquired a new stake in shares of Independence Realty Trust during the 2nd quarter valued at $290,000. Legal & General Group Plc acquired a new position in Independence Realty Trust in the 2nd quarter worth about $19,975,000. The Manufacturers Life Insurance Company acquired a new position in Independence Realty Trust in the 2nd quarter worth about $3,522,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Independence Realty Trust in the second quarter valued at about $266,000. Finally, Commerce Bank bought a new position in Independence Realty Trust in the second quarter valued at about $359,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IRT. Weiss Ratings upgraded Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. UBS Group cut their target price on shares of Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Wells Fargo & Company boosted their target price on shares of Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Jefferies Financial Group raised shares of Independence Realty Trust to a “strong-buy” rating in a report on Wednesday, July 22nd. Finally, Barclays upgraded shares of Independence Realty Trust from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $19.00 to $20.00 in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.56.

Independence Realty Trust Stock Performance

NYSE:IRT opened at $16.35 on Friday. The firm’s fifty day moving average is $16.74 and its 200-day moving average is $16.33. Independence Realty Trust, Inc. has a 52 week low of $14.60 and a 52 week high of $18.18. The firm has a market cap of $3.85 billion, a P/E ratio of 90.83 and a beta of 0.94.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Monday, August 3rd. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.26). The firm had revenue of $167.24 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior 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, sell-side analysts anticipate that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current year.

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.