World Asset Management Inc trimmed its stake in Equity Residential (NYSE:EQR) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,000 shares of the real estate investment trust’s stock after selling 763 shares during the period. World Asset Management Inc’s holdings in Equity Residential were worth $890,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in Equity Residential in the second quarter valued at $28,000. Parkside Financial Bank & Trust boosted its position in shares of Equity Residential by 144.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 503 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 297 shares in the last quarter. West Branch Capital LLC bought a new position in shares of Equity Residential during the 2nd quarter worth about $46,000. Muzinich & Co. Inc. bought a new position in shares of Equity Residential during the 2nd quarter worth about $53,000. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Equity Residential by 155.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,038 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 631 shares in the last quarter. Institutional investors and hedge funds own 83.09% of the company’s stock.
Several equities analysts recently weighed in on EQR shares. Truist Securities raised their price target on shares of Equity Residential from $86.00 to $89.00 and gave the company a “hold” rating in a research report on Monday, December 6th. BTIG Research increased their price objective on shares of Equity Residential from $98.00 to $104.00 and gave the company a “buy” rating in a research note on Monday, December 13th. Scotiabank upgraded shares of Equity Residential from a “sector underperform” rating to a “sector perform” rating and set a $90.00 price target for the company in a research note on Thursday, December 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “sell” rating to a “hold” rating and raised their price target for the stock from $63.00 to $81.00 in a research note on Thursday, September 23rd. Finally, Mizuho raised their price objective on shares of Equity Residential from $86.00 to $88.00 and gave the stock a “neutral” rating in a report on Wednesday, September 29th. Fifteen research analysts have rated the stock with a hold rating and five have issued 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 $87.84.
Shares of NYSE:EQR opened at $90.83 on Friday. The firm has a fifty day moving average price of $87.84 and a two-hundred day moving average price of $84.68. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.18 and a quick ratio of 0.18. Equity Residential has a one year low of $59.88 and a one year high of $93.03. The company has a market cap of $34.06 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 6.49 and a beta of 0.80.
Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, October 26th. The real estate investment trust reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.40. Equity Residential had a net margin of 43.53% and a return on equity of 9.92%. The firm had revenue of $623.21 million during the quarter, compared to the consensus estimate of $607.14 million. During the same period last year, the firm earned $0.77 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. Equities research analysts expect that Equity Residential will post 2.96 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 14th. Stockholders of record on Monday, January 3rd were issued a dividend of $0.6025 per share. This represents a $2.41 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Friday, December 31st. Equity Residential’s dividend payout ratio is currently 85.46%.
About Equity Residential
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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