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2,311,283 Shares in Equity Residential (NYSE:EQR) Bought by Nuveen LLC

Equity Residential logo with Finance background

Key Points

  • Nuveen LLC acquired 2,311,283 shares of Equity Residential (NYSE:EQR) in the first quarter, totaling around $165 million, equating to about 0.61% ownership of the company.
  • Equity Residential reported earnings of $0.99 per share for the last quarter, meeting analyst expectations, and had a net margin of 33.22%.
  • A recent dividend of $0.6925 was paid to shareholders, representing an annualized yield of 4.4% despite the company’s payout ratio being 104.53%.
  • Looking to export and analyze Equity Residential data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Nuveen LLC purchased a new position in Equity Residential (NYSE:EQR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,311,283 shares of the real estate investment trust's stock, valued at approximately $165,442,000. Nuveen LLC owned approximately 0.61% of Equity Residential as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its holdings in shares of Equity Residential by 19.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 203,612 shares of the real estate investment trust's stock worth $14,611,000 after buying an additional 33,057 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Equity Residential during the fourth quarter worth $13,921,000. Sterling Capital Management LLC grew its holdings in shares of Equity Residential by 55.4% during the fourth quarter. Sterling Capital Management LLC now owns 22,389 shares of the real estate investment trust's stock worth $1,607,000 after buying an additional 7,986 shares in the last quarter. Townsquare Capital LLC grew its holdings in shares of Equity Residential by 9.1% during the fourth quarter. Townsquare Capital LLC now owns 4,971 shares of the real estate investment trust's stock worth $357,000 after buying an additional 415 shares in the last quarter. Finally, Mariner LLC grew its holdings in shares of Equity Residential by 5.7% during the fourth quarter. Mariner LLC now owns 25,231 shares of the real estate investment trust's stock worth $1,811,000 after buying an additional 1,367 shares in the last quarter. Hedge funds and other institutional investors own 92.68% of the company's stock.

Equity Residential Trading Down 1.4%

NYSE EQR opened at $62.32 on Tuesday. The firm's 50-day moving average is $66.97 and its two-hundred day moving average is $68.85. Equity Residential has a 12 month low of $59.41 and a 12 month high of $78.83. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market capitalization of $23.80 billion, a P/E ratio of 23.52, a PEG ratio of 3.25 and a beta of 0.92.

Equity Residential (NYSE:EQR - Get Free Report) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $0.99 EPS for the quarter, meeting analysts' consensus estimates of $0.99. Equity Residential had a net margin of 33.22% and a return on equity of 9.05%. The company had revenue of $768.83 million for the quarter, compared to analysts' expectations of $770.60 million. During the same quarter in the prior year, the company posted $0.97 earnings per share. Equity Residential's revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Equity Residential will post 3.98 earnings per share for the current year.

Equity Residential Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, June 24th were given a $0.6925 dividend. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $2.77 dividend on an annualized basis and a yield of 4.4%. Equity Residential's dividend payout ratio is presently 104.53%.

Analyst Ratings Changes

A number of research firms have recently issued reports on EQR. Wall Street Zen lowered shares of Equity Residential from a "hold" rating to a "sell" rating in a report on Saturday. Mizuho dropped their target price on shares of Equity Residential from $76.00 to $71.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Stifel Nicolaus set a $80.50 target price on shares of Equity Residential and gave the stock a "buy" rating in a report on Tuesday, August 5th. UBS Group dropped their target price on shares of Equity Residential from $84.00 to $76.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Finally, Scotiabank lowered their price target on shares of Equity Residential from $82.00 to $78.00 and set a "sector perform" rating on the stock in a research report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $78.43.

Get Our Latest Analysis on Equity Residential

About Equity Residential

(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.

Read More

Want to see what other hedge funds are holding EQR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Residential (NYSE:EQR - Free Report).

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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