Edgestream Partners L.P. trimmed its position in shares of Equity Residential (NYSE:EQR – Free Report) by 9.2% during the first quarter, Holdings Channel reports. The firm owned 115,094 shares of the real estate investment trust’s stock after selling 11,669 shares during the quarter. Edgestream Partners L.P.’s holdings in Equity Residential were worth $6,808,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of EQR. Norges Bank purchased a new stake in Equity Residential in the 4th quarter worth approximately $2,201,674,000. Cohen & Steers Inc. raised its holdings in shares of Equity Residential by 227.7% in the 4th quarter. Cohen & Steers Inc. now owns 7,405,502 shares of the real estate investment trust’s stock worth $466,869,000 after purchasing an additional 5,145,442 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Equity Residential by 876.0% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,500,885 shares of the real estate investment trust’s stock worth $291,342,000 after acquiring an additional 4,039,752 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Equity Residential by 797.2% in the third quarter. Wellington Management Group LLP now owns 2,085,406 shares of the real estate investment trust’s stock valued at $134,988,000 after buying an additional 1,852,970 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in Equity Residential by 353.5% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,002,892 shares of the real estate investment trust’s stock worth $129,647,000 after buying an additional 1,561,241 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
EQR has been the subject of a number of research reports. Stifel Nicolaus lifted their price target on Equity Residential from $78.25 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Wall Street Zen lowered shares of Equity Residential from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Cantor Fitzgerald upped their price objective on Equity Residential from $64.00 to $66.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. The Goldman Sachs Group dropped their target price on Equity Residential from $71.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Finally, Mizuho raised their target price on Equity Residential from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $71.40.
Equity Residential Stock Down 2.4%
EQR stock opened at $67.18 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.19 and a quick ratio of 0.18. The firm has a market capitalization of $25.19 billion, a P/E ratio of 29.21, a P/E/G ratio of 5.48 and a beta of 0.74. Equity Residential has a 52-week low of $57.57 and a 52-week high of $71.50. The company’s 50 day simple moving average is $67.48 and its 200-day simple moving average is $64.13.
Equity Residential (NYSE:EQR – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.09). The company had revenue of $779.85 million during the quarter, compared to analysts’ expectations of $781.79 million. Equity Residential had a return on equity of 8.06% and a net margin of 27.97%.Equity Residential’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. As a group, equities research analysts anticipate that Equity Residential will post 4.08 EPS for the current year.
Equity Residential Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 29th were paid a $0.7025 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 4.2%. Equity Residential’s dividend payout ratio is 122.17%.
Equity Residential Profile
Equity Residential (NYSE: EQR) is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.
The company’s core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.
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