Eventide Asset Management LLC Invests $27.94 Million in Equity Residential $EQR

Key Points

• Eventide Asset Management LLC acquired 390,480 shares of Equity Residential, valued at approximately $27,944,000, representing about 0.10% of the company by the end of the reporting period.
• Several large investors, including Nuveen LLC and GAMMA Investing LLC, made significant modifications to their holdings in Equity Residential during the first quarter, showcasing growing institutional interest in the stock.
• Recent analyst ratings for Equity Residential show a mix of adjustments, with Wall Street Zen lowering the stock from a "hold" to a "sell" rating, while eight analysts maintain a "buy" rating, suggesting a consensus of "Moderate Buy" with a target price of $76.90.

Eventide Asset Management LLC acquired a new stake in shares of Equity Residential (NYSE:EQR - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 390,480 shares of the real estate investment trust's stock, valued at approximately $27,944,000. Eventide Asset Management LLC owned approximately 0.10% of Equity Residential at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. TCW Group Inc. lifted its stake in Equity Residential by 40.4% during the 1st quarter. TCW Group Inc. now owns 83,417 shares of the real estate investment trust's stock valued at $5,971,000 after acquiring an additional 23,997 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Equity Residential by 6.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,246 shares of the real estate investment trust's stock valued at $232,000 after purchasing an additional 191 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its position in shares of Equity Residential by 39.1% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 86,203 shares of the real estate investment trust's stock valued at $6,170,000 after purchasing an additional 24,232 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Equity Residential by 11.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 845,820 shares of the real estate investment trust's stock valued at $60,544,000 after purchasing an additional 83,788 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Equity Residential by 9.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 54,271 shares of the real estate investment trust's stock valued at $3,885,000 after purchasing an additional 4,499 shares during the last quarter. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Price Performance

NYSE EQR traded down $0.44 during trading hours on Monday, hitting $66.37. The company had a trading volume of 2,189,334 shares, compared to its average volume of 1,939,097. The firm has a market capitalization of $25.35 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 3.39 and a beta of 0.93. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a 50 day simple moving average of $65.48 and a 200 day simple moving average of $68.03. Equity Residential has a 52 week low of $59.41 and a 52 week high of $78.83.

Equity Residential (NYSE:EQR - Get Free Report) last issued 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 return on equity of 9.05% and a net margin of 33.22%.The company had revenue of $768.83 million during the quarter, compared to analyst estimates of $770.60 million. During the same quarter in the previous year, the firm earned $0.97 earnings per share. Equity Residential's revenue was up 4.7% on a year-over-year basis. Equity Residential has set its FY 2025 guidance at 3.970-4.030 EPS. Q3 2025 guidance at 0.990-1.030 EPS. Equities research analysts expect that Equity Residential will post 3.98 earnings per share for the current year.

Equity Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, June 24th were issued a dividend of $0.6925 per share. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $2.77 annualized dividend and a dividend yield of 4.2%. Equity Residential's payout ratio is presently 104.53%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Barclays decreased their target price on Equity Residential from $83.00 to $81.00 and set an "overweight" rating for the company in a research report on Tuesday, August 12th. Stifel Nicolaus set a $80.50 target price on Equity Residential and gave the company a "buy" rating in a research report on Tuesday, August 5th. Wall Street Zen raised Equity Residential from a "sell" rating to a "hold" rating in a report on Friday. Morgan Stanley decreased their price objective on Equity Residential from $76.50 to $75.00 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. Finally, Scotiabank decreased their price objective on Equity Residential from $78.00 to $77.00 and set a "sector perform" rating for the company in a report on Thursday, August 14th. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $76.90.

Equity Residential Company 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.