15,273 Shares in Equity Residential (NYSE:EQR) Bought by USA Financial Formulas

USA Financial Formulas acquired a new position in shares of Equity Residential (NYSE:EQR - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 15,273 shares of the real estate investment trust's stock, valued at approximately $1,137,000.

Several other hedge funds have also modified their holdings of the stock. Fidelis Capital Partners LLC acquired a new stake in Equity Residential during the first quarter worth about $27,000. Voisard Asset Management Group Inc. purchased a new position in Equity Residential in the fourth quarter valued at approximately $33,000. Massmutual Trust Co. FSB ADV raised its holdings in Equity Residential by 41.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 155 shares during the period. HHM Wealth Advisors LLC lifted its position in Equity Residential by 146.6% during the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust's stock valued at $38,000 after buying an additional 327 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new stake in Equity Residential during the first quarter worth approximately $41,000. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Stock Down 0.6 %

Shares of EQR stock traded down $0.46 during trading hours on Thursday, hitting $72.16. 1,133,395 shares of the company were exchanged, compared to its average volume of 1,893,066. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.21 and a current ratio of 0.21. The stock has a market capitalization of $27.39 billion, a price-to-earnings ratio of 29.95, a P/E/G ratio of 5.60 and a beta of 0.89. Equity Residential has a one year low of $52.57 and a one year high of $78.83. The business's 50-day simple moving average is $73.80 and its two-hundred day simple moving average is $68.69.

Equity Residential (NYSE:EQR - Get Free Report) last released its earnings results on Monday, July 29th. The real estate investment trust reported $0.47 EPS for the quarter, missing analysts' consensus estimates of $0.96 by ($0.49). The firm had revenue of $734.20 million for the quarter, compared to the consensus estimate of $735.26 million. Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.94 EPS. Sell-side analysts predict that Equity Residential will post 3.89 EPS for the current fiscal year.

Equity Residential Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th will be given a $0.675 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.74%. Equity Residential's payout ratio is currently 112.03%.

Analyst Ratings Changes

EQR has been the topic of a number of research reports. Truist Financial raised their target price on shares of Equity Residential from $73.00 to $77.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. UBS Group boosted their price objective on Equity Residential from $75.00 to $82.00 and gave the stock a "buy" rating in a research note on Thursday, July 18th. Wedbush increased their target price on Equity Residential from $68.00 to $75.00 and gave the company a "neutral" rating in a research note on Monday, August 5th. The Goldman Sachs Group assumed coverage on Equity Residential in a report on Wednesday, September 4th. They set a "neutral" rating and a $81.00 target price on the stock. Finally, Piper Sandler upped their price target on Equity Residential from $80.00 to $85.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Equity Residential has a consensus rating of "Hold" and a consensus price target of $75.97.

Equity Residential Company 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.