Pinnacle Associates Ltd. purchased a new position in Equity Residential (NYSE:EQR - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 53,183 shares of the real estate investment trust's stock, valued at approximately $3,960,000.
A number of other hedge funds also recently bought and sold shares of the company. Norden Group LLC purchased a new stake in shares of Equity Residential during the 1st quarter valued at about $414,000. First Trust Direct Indexing L.P. grew its position in Equity Residential by 16.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 9,211 shares of the real estate investment trust's stock worth $581,000 after purchasing an additional 1,329 shares during the period. Consolidated Portfolio Review Corp raised its stake in Equity Residential by 33.1% during the 1st quarter. Consolidated Portfolio Review Corp now owns 5,056 shares of the real estate investment trust's stock valued at $319,000 after buying an additional 1,257 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Equity Residential by 32.3% during the 1st quarter. Baillie Gifford & Co. now owns 17,469 shares of the real estate investment trust's stock valued at $1,102,000 after buying an additional 4,269 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Equity Residential by 8.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 105,753 shares of the real estate investment trust's stock valued at $6,272,000 after buying an additional 7,790 shares during the period. Institutional investors own 92.68% of the company's stock.
Analyst Ratings Changes
A number of analysts recently commented on EQR shares. UBS Group upped their price objective on Equity Residential from $75.00 to $82.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. Wedbush increased their price objective on shares of Equity Residential from $68.00 to $75.00 and gave the stock a "neutral" rating in a research note on Monday, August 5th. JPMorgan Chase & Co. raised their price objective on shares of Equity Residential from $68.00 to $80.00 and gave the stock a "neutral" rating in a report on Monday, September 16th. Truist Financial upped their target price 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. Finally, Wells Fargo & Company cut shares of Equity Residential from an "overweight" rating to an "equal weight" rating and lifted their price target for the stock from $69.00 to $77.00 in a research note on Monday, August 26th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $76.19.
Get Our Latest Report on Equity Residential
Equity Residential Trading Down 1.8 %
NYSE EQR traded down $1.25 on Friday, hitting $69.12. 2,332,784 shares of the stock were exchanged, compared to its average volume of 1,864,867. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.21 and a current ratio of 0.21. Equity Residential has a 52-week low of $53.28 and a 52-week high of $78.83. The firm has a market capitalization of $26.21 billion, a P/E ratio of 28.33, a P/E/G ratio of 6.16 and a beta of 0.89. The stock has a fifty day moving average price of $74.78 and a two-hundred day moving average price of $69.96.
Equity Residential (NYSE:EQR - Get Free Report) last released its quarterly 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 analysts' expectations of $735.26 million. Equity Residential had a return on equity of 8.27% and a net margin of 31.57%. Equity Residential's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 earnings per share. Research analysts forecast that Equity Residential will post 3.89 EPS for the current fiscal year.
Equity Residential Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential's payout ratio is presently 110.66%.
About Equity Residential
(
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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