Summit Place Financial Advisors LLC Buys 3,065 Shares of Equity Residential (NYSE:EQR)

Summit Place Financial Advisors LLC raised its holdings in shares of Equity Residential (NYSE:EQR) by 14.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,950 shares of the real estate investment trust’s stock after purchasing an additional 3,065 shares during the period. Summit Place Financial Advisors LLC’s holdings in Equity Residential were worth $1,714,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new position in Equity Residential during the 4th quarter worth approximately $2,493,426,000. Northern Trust Corp boosted its holdings in Equity Residential by 53.1% during the fourth quarter. Northern Trust Corp now owns 6,476,004 shares of the real estate investment trust’s stock worth $464,718,000 after purchasing an additional 2,246,555 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Equity Residential by 12.0% in the 4th quarter. Invesco Ltd. now owns 6,522,442 shares of the real estate investment trust’s stock valued at $468,050,000 after acquiring an additional 696,343 shares in the last quarter. Adelante Capital Management LLC increased its position in shares of Equity Residential by 172.1% during the 4th quarter. Adelante Capital Management LLC now owns 1,077,337 shares of the real estate investment trust’s stock worth $77,310,000 after purchasing an additional 681,356 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC raised its position in Equity Residential by 79.1% during the fourth quarter. Lasalle Investment Management Securities LLC now owns 1,161,137 shares of the real estate investment trust’s stock worth $83,323,000 after acquiring an additional 512,723 shares in the last quarter. 92.68% of the stock is owned by institutional investors.

Equity Residential Trading Down 0.9%

Shares of EQR stock opened at $66.66 on Thursday. The stock has a 50-day moving average of $69.21 and a 200-day moving average of $69.70. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.70. Equity Residential has a 1-year low of $59.41 and a 1-year high of $78.84. The stock has a market cap of $25.33 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 3.93 and a beta of 0.88.

Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The business had revenue of $760.81 million during the quarter, compared to analysts’ expectations of $769.43 million. Equity Residential had a net margin of 33.11% and a return on equity of 8.93%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company posted $0.93 earnings per share. On average, equities research analysts forecast that Equity Residential will post 3.98 earnings per share for the current year.

Equity Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, June 24th will be issued a dividend of $0.6925 per share. This represents a $2.77 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Tuesday, June 24th. Equity Residential’s dividend payout ratio is currently 105.73%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Scotiabank cut their price objective on Equity Residential from $82.00 to $78.00 and set a “sector perform” rating for the company in a research report on Friday, June 13th. Mizuho decreased their target price on shares of Equity Residential from $76.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Stifel Nicolaus dropped their price target on Equity Residential from $82.25 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Wedbush restated a “neutral” rating and set a $75.00 price objective on shares of Equity Residential in a research report on Wednesday, May 28th. Finally, Truist Financial increased their target price on shares of Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Equity Residential currently has an average rating of “Hold” and an average price target of $79.25.

Equity Residential Profile

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.