MQS Management LLC decreased its position in Equity Residential (NYSE:EQR – Free Report) by 47.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,855 shares of the real estate investment trust’s stock after selling 11,694 shares during the quarter. MQS Management LLC’s holdings in Equity Residential were worth $760,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of EQR. Premier Path Wealth Partners LLC bought a new stake in Equity Residential during the first quarter worth about $277,000. Inspire Investing LLC increased its position in Equity Residential by 3.8% during the 1st quarter. Inspire Investing LLC now owns 45,694 shares of the real estate investment trust’s stock valued at $2,703,000 after buying an additional 1,657 shares in the last quarter. Patton Fund Management Inc. boosted its holdings in Equity Residential by 9.7% in the first quarter. Patton Fund Management Inc. now owns 3,933 shares of the real estate investment trust’s stock worth $233,000 after acquiring an additional 349 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Equity Residential by 46.9% in the first quarter. Janney Montgomery Scott LLC now owns 5,153 shares of the real estate investment trust’s stock worth $305,000 after acquiring an additional 1,646 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in shares of Equity Residential in the first quarter worth approximately $1,035,000. Institutional investors own 92.68% of the company’s stock.
Equity Residential Trading Down 0.7%
Equity Residential stock opened at $67.86 on Wednesday. The business has a 50-day simple moving average of $65.73 and a two-hundred day simple moving average of $63.09. The company has a market cap of $25.43 billion, a P/E ratio of 27.14, a P/E/G ratio of 5.43 and a beta of 0.75. Equity Residential has a 52-week low of $57.57 and a 52-week high of $69.03. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.77.
Equity Residential Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 29th will be issued a dividend of $0.7025 per share. This represents a $2.81 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Monday, June 29th. Equity Residential’s dividend payout ratio is currently 112.40%.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on EQR. Barclays raised their price target on shares of Equity Residential from $75.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Wells Fargo & Company boosted their price objective on shares of Equity Residential from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. UBS Group increased their price objective on shares of Equity Residential from $71.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. raised their target price on shares of Equity Residential from $71.00 to $72.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Finally, Jefferies Financial Group raised shares of Equity Residential to a “hold” rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $70.65.
View Our Latest Analysis on EQR
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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