Hsbc Holdings PLC Reduces Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Hsbc Holdings PLC trimmed its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 32.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 160,005 shares of the real estate investment trust’s stock after selling 78,440 shares during the quarter. Hsbc Holdings PLC’s holdings in Independence Realty Trust were worth $2,997,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Independence Realty Trust by 6.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 42,970 shares of the real estate investment trust’s stock valued at $804,000 after purchasing an additional 2,624 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Independence Realty Trust by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,308,557 shares of the real estate investment trust’s stock valued at $62,001,000 after buying an additional 176,119 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Independence Realty Trust during the 2nd quarter valued at $22,464,000. Envestnet Asset Management Inc. increased its position in Independence Realty Trust by 52.9% during the second quarter. Envestnet Asset Management Inc. now owns 111,075 shares of the real estate investment trust’s stock worth $2,082,000 after buying an additional 38,441 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Independence Realty Trust by 327.6% in the second quarter. Federated Hermes Inc. now owns 113,985 shares of the real estate investment trust’s stock worth $2,136,000 after acquiring an additional 87,329 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Wall Street Analyst Weigh In

IRT has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. KeyCorp lifted their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. JMP Securities upped their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a research note on Monday, September 9th. Finally, BTIG Research raised their target price on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.57.

Independence Realty Trust Price Performance

Shares of IRT stock opened at $20.76 on Thursday. The firm’s 50-day simple moving average is $19.87 and its 200-day simple moving average is $17.91. Independence Realty Trust, Inc. has a 1-year low of $11.61 and a 1-year high of $21.20. The firm has a market cap of $4.67 billion, a P/E ratio of -691.60, a PEG ratio of 3.10 and a beta of 1.17.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Monday, September 30th. Independence Realty Trust’s dividend payout ratio is currently -2,132.62%.

Independence Realty Trust Company Profile

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.