Cibc World Markets Corp lifted its holdings in Equity Residential (NYSE:EQR) by 378.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,447 shares of the real estate investment trust’s stock after acquiring an additional 123,759 shares during the period. Cibc World Markets Corp’s holdings in Equity Residential were worth $12,046,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in EQR. Norinchukin Bank The increased its holdings in Equity Residential by 0.4% during the 1st quarter. Norinchukin Bank The now owns 34,166 shares of the real estate investment trust’s stock worth $2,447,000 after purchasing an additional 139 shares during the period. Quadrant Capital Group LLC increased its holdings in Equity Residential by 12.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,276 shares of the real estate investment trust’s stock worth $98,000 after purchasing an additional 145 shares during the period. Sandy Spring Bank increased its holdings in Equity Residential by 62.4% during the 2nd quarter. Sandy Spring Bank now owns 406 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 156 shares during the period. Assetmark Inc. increased its holdings in Equity Residential by 3.1% during the 1st quarter. Assetmark Inc. now owns 5,230 shares of the real estate investment trust’s stock worth $375,000 after purchasing an additional 157 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. increased its holdings in Equity Residential by 6.6% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 2,678 shares of the real estate investment trust’s stock worth $192,000 after purchasing an additional 166 shares during the period. 83.43% of the stock is owned by hedge funds and other institutional investors.
EQR has been the topic of several research reports. Wolfe Research initiated coverage on Equity Residential in a report on Monday, June 14th. They set a “peer perform” rating and a $83.00 price objective on the stock. Mizuho downgraded Equity Residential from a “buy” rating to a “neutral” rating and set a $86.00 price objective on the stock. in a report on Thursday, June 3rd. Raymond James upgraded Equity Residential from an “underperform” rating to a “market perform” rating in a report on Friday, August 6th. Deutsche Bank Aktiengesellschaft lifted their price target on Equity Residential from $60.00 to $63.00 and gave the company a “sell” rating in a report on Wednesday, May 26th. Finally, BTIG Research lifted their price target on Equity Residential from $85.00 to $96.00 and gave the company a “buy” rating in a report on Monday, August 2nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $80.14.
Shares of EQR opened at $81.78 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.22 and a quick ratio of 0.22. The firm has a 50 day simple moving average of $83.24 and a 200-day simple moving average of $77.66. Equity Residential has a 1-year low of $45.42 and a 1-year high of $86.04. The stock has a market cap of $30.62 billion, a price-to-earnings ratio of 42.82, a price-to-earnings-growth ratio of 7.53 and a beta of 0.78.
Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, July 27th. The real estate investment trust reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.14. Equity Residential had a net margin of 29.53% and a return on equity of 6.75%. The business had revenue of $598.06 million during the quarter, compared to analysts’ expectations of $597.49 million. During the same period last year, the company posted $0.70 EPS. The company’s revenue was down 8.5% on a year-over-year basis. On average, equities analysts expect that Equity Residential will post 2.9 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 9th. Shareholders of record on Monday, June 28th were paid a $0.6025 dividend. The ex-dividend date of this dividend was Friday, June 25th. This represents a $2.41 annualized dividend and a yield of 2.95%. Equity Residential’s payout ratio is currently 73.93%.
Equity Residential Profile
Equity Residential operates as a real estate investment trust. It engages in the acquisition, development, and management of rental apartment properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. The company was founded by Robert H.
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