Land & Buildings Investment Management LLC Acquires New Stake in Equity Residential (NYSE:EQR)

Land & Buildings Investment Management LLC purchased a new position in Equity Residential (NYSE:EQR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 158,729 shares of the real estate investment trust's stock, valued at approximately $11,390,000. Equity Residential makes up about 2.3% of Land & Buildings Investment Management LLC's portfolio, making the stock its 17th largest holding.

A number of other large investors have also modified their holdings of the stock. SRS Capital Advisors Inc. raised its position in Equity Residential by 607.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Equity Residential during the third quarter worth approximately $29,000. Steward Partners Investment Advisory LLC raised its holdings in Equity Residential by 109.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 288 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Equity Residential by 38.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 156 shares in the last quarter. Finally, Grove Bank & Trust lifted its stake in Equity Residential by 208.1% in the fourth quarter. Grove Bank & Trust now owns 610 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 412 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company's stock.

Equity Residential Stock Performance

Shares of Equity Residential stock traded up $1.76 during trading on Thursday, reaching $70.82. The company's stock had a trading volume of 1,772,847 shares, compared to its average volume of 1,714,263. The company has a 50-day moving average price of $68.84 and a two-hundred day moving average price of $70.90. Equity Residential has a fifty-two week low of $59.41 and a fifty-two week high of $78.84. The firm has a market cap of $26.91 billion, a PE ratio of 26.04, a P/E/G ratio of 3.99 and a beta of 0.89. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.72.

Equity Residential (NYSE:EQR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.02. The company had revenue of $760.81 million for the quarter, compared to the consensus estimate of $769.43 million. Equity Residential had a net margin of 34.76% and a return on equity of 9.27%. Equity Residential's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the firm posted $0.93 EPS. On average, analysts forecast that Equity Residential will post 3.98 EPS for the current year.

Equity Residential Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Monday, March 31st were given a $0.6925 dividend. This represents a $2.77 annualized dividend and a yield of 3.91%. The ex-dividend date was Monday, March 31st. This is a boost from Equity Residential's previous quarterly dividend of $0.68. Equity Residential's payout ratio is 105.73%.

Wall Street Analyst Weigh In

A number of brokerages have commented on EQR. Scotiabank increased their price objective on shares of Equity Residential from $79.00 to $82.00 and gave the company a "sector perform" rating in a research report on Monday. StockNews.com upgraded Equity Residential from a "sell" rating to a "hold" rating in a research note on Saturday, February 8th. Royal Bank of Canada lifted their price target on Equity Residential from $75.00 to $76.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Wells Fargo & Company dropped their price objective on Equity Residential from $77.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, January 24th. Finally, Truist Financial boosted their target price on Equity Residential from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $79.69.

About Equity Residential

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.