58,628 Shares in Equity Residential $EQR Acquired by Summit Financial LLC

Key Points

• Summit Financial LLC has acquired a new position in Equity Residential, purchasing 58,628 shares valued at approximately $4.2 million during the first quarter.
• Several institutional investors have increased their stakes in Equity Residential, with TCW Group Inc. and U.S. Capital Wealth Advisors increasing their holdings by 40.4% and 39.1%, respectively.
• Equity Residential recently reported $0.99 EPS for the last quarter, meeting analyst estimates, and announced a quarterly dividend yield of 4.3%.

Summit Financial LLC acquired a new position in Equity Residential (NYSE:EQR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 58,628 shares of the real estate investment trust's stock, valued at approximately $4,197,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TCW Group Inc. grew its stake in Equity Residential by 40.4% in the first quarter. TCW Group Inc. now owns 83,417 shares of the real estate investment trust's stock worth $5,971,000 after purchasing an additional 23,997 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in 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 acquiring an additional 191 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in 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 acquiring an additional 24,232 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in 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 acquiring an additional 83,788 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in 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 acquiring an additional 4,499 shares in the last quarter. Institutional investors own 92.68% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on EQR shares. Morgan Stanley dropped their target price on Equity Residential from $76.50 to $75.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 13th. UBS Group dropped their target price on Equity Residential from $84.00 to $76.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Wedbush reaffirmed a "neutral" rating and set a $75.00 target price on shares of Equity Residential in a research report on Wednesday, May 28th. 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. Finally, Wall Street Zen cut Equity Residential from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $77.78.

Equity Residential Stock Performance

Shares of EQR opened at $64.1950 on Friday. Equity Residential has a 12 month low of $59.41 and a 12 month high of $78.83. The stock has a fifty day moving average price of $66.11 and a 200-day moving average price of $68.53. 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 firm has a market cap of $24.52 billion, a PE ratio of 24.22, a P/E/G ratio of 3.27 and a beta of 0.92.

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, meeting the consensus estimate of $0.99. Equity Residential had a return on equity of 9.05% and a net margin of 33.22%.The firm had revenue of $768.83 million during the quarter, compared to analyst estimates of $770.60 million. During the same quarter in the prior year, the business posted $0.97 EPS. 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. Equities research analysts predict that Equity Residential will post 3.98 earnings per share for the current fiscal year.

Equity Residential Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, June 24th were paid a $0.6925 dividend. The ex-dividend date was Tuesday, June 24th. This represents a $2.77 dividend on an annualized basis and a yield of 4.3%. Equity Residential's dividend payout ratio (DPR) is 104.53%.

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.

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