OneAscent Investment Solutions LLC Makes New Investment in Equity Residential (NYSE:EQR)

Key Points

• OneAscent Investment Solutions LLC acquired a new position in Equity Residential by purchasing 6,593 shares valued at approximately $472,000.
• Equity Residential reported a quarterly earnings of $0.99 EPS, aligning with analysts' expectations, and achieved a revenue of $768.83 million, which was slightly below estimates.
• The company declared a quarterly dividend of $0.6925 per share, resulting in an annualized yield of 4.3%, with a payout ratio currently at 104.53%.

OneAscent Investment Solutions LLC bought a new position in Equity Residential (NYSE:EQR - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 6,593 shares of the real estate investment trust's stock, valued at approximately $472,000.

Other institutional investors also recently bought and sold shares of the company. TCW Group Inc. grew its position in shares of Equity Residential by 40.4% during the first quarter. TCW Group Inc. now owns 83,417 shares of the real estate investment trust's stock valued at $5,971,000 after purchasing 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 first quarter. Sequoia Financial Advisors LLC now owns 3,246 shares of the real estate investment trust's stock worth $232,000 after acquiring an additional 191 shares during the period. U.S. Capital Wealth Advisors LLC increased its position in shares of Equity Residential by 39.1% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 86,203 shares of the real estate investment trust's stock worth $6,170,000 after acquiring an additional 24,232 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Equity Residential by 11.0% during the first 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 buying an additional 83,788 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Equity Residential by 9.0% during the first 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 buying an additional 4,499 shares during the period. 92.68% of the stock is owned by institutional investors.

Equity Residential Stock Up 0.9%

Equity Residential stock traded up $0.60 during mid-day trading on Friday, reaching $64.11. 3,890,265 shares of the company's stock were exchanged, compared to its average volume of 2,275,611. The company has a market cap of $24.48 billion, a P/E ratio of 24.19, a P/E/G ratio of 3.25 and a beta of 0.92. Equity Residential has a twelve month low of $59.41 and a twelve month high of $78.83. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.75. The company has a fifty day moving average of $66.56 and a 200-day moving average of $68.69.

Equity Residential (NYSE:EQR - Get Free Report) last released its earnings results on Monday, August 4th. The real estate investment trust reported $0.99 earnings per share (EPS) for the quarter, hitting 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 analyst estimates of $770.60 million. During the same period in the prior year, the business earned $0.97 EPS. The firm's quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts expect that Equity Residential will post 3.98 EPS for the current year.

Equity Residential Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on EQR. Wall Street Zen lowered shares of Equity Residential from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Evercore ISI reduced their price target on shares of Equity Residential from $72.00 to $71.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Royal Bank Of Canada upped their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Scotiabank dropped their price objective on shares of Equity Residential from $78.00 to $77.00 and set a "sector perform" rating for the company in a research note on Thursday. Finally, UBS Group dropped their price target on shares of Equity Residential from $84.00 to $76.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $77.78.

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.