Carmel Capital Partners LLC Cuts Holdings in Equity Residential $EQR

Carmel Capital Partners LLC trimmed its holdings in shares of Equity Residential (NYSE:EQR) by 50.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,289 shares of the real estate investment trust’s stock after selling 3,287 shares during the quarter. Carmel Capital Partners LLC’s holdings in Equity Residential were worth $222,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Chevy Chase Trust Holdings LLC increased its holdings in Equity Residential by 0.8% during the second quarter. Chevy Chase Trust Holdings LLC now owns 181,438 shares of the real estate investment trust’s stock valued at $12,245,000 after buying an additional 1,393 shares during the period. Nordea Investment Management AB increased its holdings in Equity Residential by 2.5% during the second quarter. Nordea Investment Management AB now owns 33,401 shares of the real estate investment trust’s stock valued at $2,234,000 after buying an additional 814 shares during the period. New York State Teachers Retirement System increased its holdings in Equity Residential by 8.1% during the second quarter. New York State Teachers Retirement System now owns 266,584 shares of the real estate investment trust’s stock valued at $17,992,000 after buying an additional 19,988 shares during the period. TD Asset Management Inc increased its holdings in Equity Residential by 5.3% during the second quarter. TD Asset Management Inc now owns 238,611 shares of the real estate investment trust’s stock valued at $16,104,000 after buying an additional 11,994 shares during the period. Finally, Naviter Wealth LLC increased its holdings in Equity Residential by 9.6% during the second quarter. Naviter Wealth LLC now owns 27,372 shares of the real estate investment trust’s stock valued at $1,865,000 after buying an additional 2,408 shares during the period. 92.68% of the stock is owned by hedge funds and other institutional investors.

Equity Residential Trading Up 1.2%

NYSE:EQR opened at $62.24 on Friday. Equity Residential has a 12 month low of $59.41 and a 12 month high of $78.32. The firm has a fifty day simple moving average of $64.26 and a 200-day simple moving average of $66.56. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $23.77 billion, a P/E ratio of 23.48, a PEG ratio of 3.12 and a beta of 0.90.

Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.99 EPS for the quarter, hitting the consensus estimate of $0.99. Equity Residential had a net margin of 33.22% and a return on equity of 9.05%. The business had revenue of $768.83 million during the quarter, compared to the consensus estimate of $770.60 million. During the same period in the previous year, the firm posted $0.97 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equity Residential has set its FY 2025 guidance at 3.970-4.030 EPS. Q3 2025 guidance at 0.990-1.030 EPS. On average, equities research analysts anticipate that Equity Residential will post 3.98 earnings per share for the current year.

Equity Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Thursday, September 25th were paid a dividend of $0.6925 per share. This represents a $2.77 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Thursday, September 25th. Equity Residential’s payout ratio is presently 104.53%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Barclays lowered their target price on shares of Equity Residential from $81.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, September 30th. The Goldman Sachs Group lowered their target price on shares of Equity Residential from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, September 17th. BNP Paribas Exane downgraded shares of Equity Residential from an “outperform” rating to a “neutral” rating in a research note on Monday, September 29th. UBS Group lowered their target price on shares of Equity Residential from $84.00 to $76.00 and set a “buy” rating for the company in a research note on Tuesday, July 15th. Finally, Cantor Fitzgerald assumed coverage on shares of Equity Residential in a research note on Wednesday, October 1st. They issued an “overweight” rating and a $70.00 target price for the company. Seven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $74.25.

Equity Residential Profile

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.