Legacy Capital Group California Inc. purchased a new position in shares of Equity Residential (NYSE:EQR - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,036 shares of the real estate investment trust's stock, valued at approximately $524,000.
Several other large investors also recently made changes to their positions in the business. Maryland Capital Advisors Inc. bought a new position in shares of Equity Residential in the 3rd quarter worth about $25,000. Fidelis Capital Partners LLC acquired a new stake in shares of Equity Residential during the first quarter worth approximately $27,000. UMB Bank n.a. boosted its holdings in shares of Equity Residential by 69.6% during the third quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 195 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Equity Residential by 41.9% during the second 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 during the period. Finally, HHM Wealth Advisors LLC lifted its stake in Equity Residential by 146.6% in the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust's stock valued at $38,000 after acquiring an additional 327 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company's stock.
Equity Residential Price Performance
Equity Residential stock traded down $1.39 during midday trading on Friday, reaching $74.67. 1,056,501 shares of the stock traded hands, compared to its average volume of 1,858,922. Equity Residential has a 12 month low of $52.57 and a 12 month high of $78.83. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.64. The stock's fifty day moving average is $74.68 and its 200-day moving average is $69.67. The stock has a market cap of $28.34 billion, a P/E ratio of 30.98, a PEG ratio of 6.05 and a beta of 0.89.
Equity Residential (NYSE:EQR - Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.96 by ($0.49). The business had revenue of $734.20 million during the quarter, compared to analyst estimates of $735.26 million. Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 EPS. As a group, equities research analysts anticipate that Equity Residential will post 3.89 EPS for the current year.
Equity Residential Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential's payout ratio is presently 112.03%.
Analyst Ratings Changes
A number of equities analysts have recently commented on EQR shares. Royal Bank of Canada lifted their price target on shares of Equity Residential from $74.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, July 31st. Evercore ISI boosted their target price on shares of Equity Residential from $75.00 to $76.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. Wedbush boosted their target price on shares of Equity Residential from $68.00 to $75.00 and gave the company a "neutral" rating in a research note on Monday, August 5th. Piper Sandler upped their price target on shares of Equity Residential from $80.00 to $85.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. Finally, Truist Financial boosted their price objective on Equity Residential from $73.00 to $77.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $75.97.
Check Out Our Latest Research Report on Equity Residential
Equity Residential Company Profile
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Free Report)
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.
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