12,218 Shares in Equity Residential (NYSE:EQR) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC bought a new position in Equity Residential (NYSE:EQR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,218 shares of the real estate investment trust's stock, valued at approximately $796,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EQR. Checchi Capital Advisers LLC grew its position in Equity Residential by 4.5% during the second quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust's stock valued at $244,000 after buying an additional 153 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of Equity Residential by 41.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 155 shares in the last quarter. Mystic Asset Management Inc. raised its holdings in Equity Residential by 3.8% in the 1st quarter. Mystic Asset Management Inc. now owns 5,450 shares of the real estate investment trust's stock worth $344,000 after purchasing an additional 200 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Equity Residential by 32.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 811 shares of the real estate investment trust's stock valued at $56,000 after purchasing an additional 200 shares in the last quarter. Finally, Whittier Trust Co. grew its holdings in Equity Residential by 12.4% during the second quarter. Whittier Trust Co. now owns 1,826 shares of the real estate investment trust's stock valued at $127,000 after purchasing an additional 201 shares during the period. Institutional investors own 92.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Bank of America downgraded Equity Residential from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $78.00 to $82.00 in a research note on Tuesday, September 24th. Truist Financial lifted their price target on shares of Equity Residential from $73.00 to $77.00 and gave the company a "buy" rating in a report on Thursday, August 29th. UBS Group increased their price objective on shares of Equity Residential from $75.00 to $82.00 and gave the stock a "buy" rating in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a "hold" rating to a "buy" rating and lifted their target price for the company from $62.00 to $83.00 in a research note on Tuesday, September 10th. Finally, Scotiabank increased their price target on Equity Residential from $77.00 to $81.00 and gave the stock a "sector perform" rating in a research note on Monday, September 16th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $75.97.

Equity Residential Trading Up 1.3 %

EQR stock traded up $0.93 during midday trading on Friday, reaching $73.09. 1,045,041 shares of the company traded hands, compared to its average volume of 1,888,760. The firm has a market capitalization of $27.74 billion, a price-to-earnings ratio of 30.33, a P/E/G ratio of 6.05 and a beta of 0.89. 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 business has a 50 day moving average of $73.89 and a 200-day moving average of $68.84. Equity Residential has a 52-week low of $52.57 and a 52-week high of $78.83.

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

Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were paid a $0.675 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a yield of 3.69%. Equity Residential's payout ratio is 112.03%.

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.