SG Americas Securities LLC trimmed its position in shares of Equity Residential (NYSE:EQR – Free Report) by 4.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 422,890 shares of the real estate investment trust’s stock after selling 18,380 shares during the period. SG Americas Securities LLC’s holdings in Equity Residential were worth $25,014,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of EQR. Norges Bank bought a new position in shares of Equity Residential in the fourth quarter worth approximately $2,201,674,000. Cohen & Steers Inc. grew its holdings in shares of Equity Residential by 227.7% during the fourth quarter. Cohen & Steers Inc. now owns 7,405,502 shares of the real estate investment trust’s stock valued at $466,869,000 after buying an additional 5,145,442 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Equity Residential by 876.0% during 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 valued at $291,342,000 after acquiring an additional 4,039,752 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Equity Residential by 797.2% during 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 acquiring an additional 1,852,970 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised 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 acquiring an additional 1,561,241 shares during the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.
Equity Residential Trading Up 0.7%
Shares of EQR stock opened at $66.18 on Thursday. Equity Residential has a 12-month low of $57.57 and a 12-month high of $69.03. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.77. The firm’s 50 day moving average is $65.21 and its 200 day moving average is $62.89. The stock has a market capitalization of $24.79 billion, a P/E ratio of 26.47, a P/E/G ratio of 5.22 and a beta of 0.75.
Equity Residential Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 29th will be issued a $0.7025 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $2.81 annualized dividend and a dividend yield of 4.2%. Equity Residential’s payout ratio is presently 112.40%.
Wall Street Analysts Forecast Growth
EQR has been the topic of several analyst reports. Morgan Stanley raised Equity Residential from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $72.00 to $74.00 in a research report on Thursday, March 26th. Wolfe Research raised Equity Residential from a “hold” rating to an “outperform” rating in a report on Monday, June 1st. Wells Fargo & Company boosted their price target on Equity Residential from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Jefferies Financial Group lowered their price target on Equity Residential from $65.00 to $64.00 and set a “hold” rating on the stock in a report on Tuesday, April 14th. Finally, Mizuho increased their price objective on Equity Residential from $66.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $70.65.
View Our Latest Report on Equity Residential
Equity Residential Company 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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