Qtron Investments LLC Acquires Shares of 3,608 Equity Residential (NYSE:EQR)

Qtron Investments LLC bought a new position in shares of Equity Residential (NYSE:EQRFree Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,608 shares of the real estate investment trust’s stock, valued at approximately $221,000.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Equity Residential by 0.7% in the third quarter. Vanguard Group Inc. now owns 57,395,793 shares of the real estate investment trust’s stock valued at $3,369,707,000 after purchasing an additional 372,181 shares during the period. Norges Bank acquired a new stake in Equity Residential in the 4th quarter valued at $2,143,388,000. First Eagle Investment Management LLC grew its stake in Equity Residential by 5.9% in the 4th quarter. First Eagle Investment Management LLC now owns 9,325,268 shares of the real estate investment trust’s stock valued at $570,333,000 after acquiring an additional 516,941 shares during the period. Northern Trust Corp increased its holdings in Equity Residential by 1.8% in the 3rd quarter. Northern Trust Corp now owns 5,457,092 shares of the real estate investment trust’s stock worth $320,386,000 after acquiring an additional 94,511 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Equity Residential by 13.8% during the third quarter. Canada Pension Plan Investment Board now owns 5,206,249 shares of the real estate investment trust’s stock worth $305,659,000 after acquiring an additional 629,813 shares during the period. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. BMO Capital Markets raised shares of Equity Residential from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $68.00 to $70.00 in a research note on Monday, April 22nd. Truist Financial reduced their target price on Equity Residential from $71.00 to $67.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Wedbush reaffirmed a “neutral” rating and issued a $68.00 price target on shares of Equity Residential in a research note on Monday, April 29th. Morgan Stanley increased their price objective on Equity Residential from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 14th. Finally, Evercore ISI cut shares of Equity Residential from an “outperform” rating to an “in-line” rating and set a $70.00 target price on the stock. in a research note on Monday, May 13th. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $68.41.

Get Our Latest Analysis on Equity Residential

Insider Activity

In related news, Director Mary Kay Haben sold 3,241 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $65.48, for a total transaction of $212,220.68. Following the completion of the transaction, the director now owns 9,720 shares of the company’s stock, valued at approximately $636,465.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Equity Residential news, EVP Alexander Brackenridge sold 4,027 shares of Equity Residential stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $65.01, for a total value of $261,795.27. Following the completion of the transaction, the executive vice president now directly owns 69,901 shares of the company’s stock, valued at approximately $4,544,264.01. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mary Kay Haben sold 3,241 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $65.48, for a total transaction of $212,220.68. Following the sale, the director now directly owns 9,720 shares in the company, valued at approximately $636,465.60. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Equity Residential Trading Up 1.8 %

EQR opened at $65.03 on Friday. The stock has a market capitalization of $24.68 billion, a PE ratio of 26.98, a P/E/G ratio of 3.71 and a beta of 0.82. Equity Residential has a one year low of $52.57 and a one year high of $69.45. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.23 and a current ratio of 0.23. The business’s 50 day moving average price is $64.11 and its 200 day moving average price is $61.50.

Equity Residential (NYSE:EQRGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. The business had revenue of $730.80 million for the quarter, compared to analyst estimates of $728.09 million. Equity Residential had a return on equity of 8.18% and a net margin of 31.70%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.87 EPS. As a group, equities research analysts expect that Equity Residential will post 3.9 EPS for the current year.

Equity Residential Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, March 25th were given a dividend of $0.675 per share. The ex-dividend date of this dividend was Friday, March 22nd. This is a boost from Equity Residential’s previous quarterly dividend of $0.66. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.15%. Equity Residential’s dividend payout ratio (DPR) is currently 112.03%.

Equity Residential Profile

(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.

Further Reading

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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