12,254 Shares in Equity Residential $EQR Acquired by Stableford Capital II LLC

Stableford Capital II LLC bought a new stake in shares of Equity Residential (NYSE:EQR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,254 shares of the real estate investment trust’s stock, valued at approximately $832,000.

Several other institutional investors have also added to or reduced their stakes in EQR. California State Teachers Retirement System grew its position in shares of Equity Residential by 6,638.4% during the 2nd quarter. California State Teachers Retirement System now owns 38,021,100 shares of the real estate investment trust’s stock valued at $2,582,773,000 after acquiring an additional 37,456,854 shares during the period. Norges Bank bought a new position in Equity Residential in the 4th quarter worth $2,201,674,000. State Street Corp lifted its position in Equity Residential by 2.8% during the third quarter. State Street Corp now owns 24,922,935 shares of the real estate investment trust’s stock valued at $1,630,103,000 after purchasing an additional 688,854 shares in the last quarter. Geode Capital Management LLC lifted its position in Equity Residential by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 10,258,275 shares of the real estate investment trust’s stock valued at $644,412,000 after purchasing an additional 114,604 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in Equity Residential by 0.6% during the second quarter. First Eagle Investment Management LLC now owns 9,529,108 shares of the real estate investment trust’s stock valued at $647,312,000 after purchasing an additional 59,415 shares during the period. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Trading Up 0.0%

Shares of EQR opened at $63.68 on Wednesday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.77. The company has a market cap of $23.88 billion, a P/E ratio of 27.69, a P/E/G ratio of 5.53 and a beta of 0.73. Equity Residential has a twelve month low of $57.57 and a twelve month high of $71.50. The company’s fifty day simple moving average is $66.51 and its 200-day simple moving average is $64.60.

Equity Residential (NYSE:EQR) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.01. Equity Residential had a return on equity of 8.06% and a net margin of 27.97%.The business had revenue of $785.05 million during the quarter, compared to analyst estimates of $787.28 million. During the same quarter in the previous year, the business earned $0.99 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts expect that Equity Residential will post 4.08 EPS for the current year.

Equity Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 29th were paid a $0.7025 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $2.81 dividend on an annualized basis and a yield of 4.4%. Equity Residential’s dividend payout ratio is 122.17%.

Analysts Set New Price Targets

A number of brokerages have commented on EQR. Piper Sandler upped their price target on Equity Residential from $72.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $72.00 price objective on shares of Equity Residential in a research report on Monday, July 20th. Bank of America upgraded Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Wednesday, May 27th. UBS Group increased their target price on shares of Equity Residential from $71.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, BMO Capital Markets raised their target price on shares of Equity Residential from $68.00 to $75.00 and gave the stock a “market perform” rating in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $71.40.

Equity Residential Profile

Equity Residential (NYSE: EQR) is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.

The company’s core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.