Allianz Asset Management GmbH Sells 41,260 Shares of Equity Residential $EQR

Key Points

• Allianz Asset Management GmbH reduced its holdings in Equity Residential by 9.2%, selling 41,260 shares, and now owns about 409,580 shares worth $27.6 million.
• A number of institutional investors, including Nuveen LLC and JPMorgan Chase & Co., have increased their stakes in Equity Residential, reflecting significant interest in the company.
• Equity Residential recently declared a quarterly dividend of $0.6925 per share, which translates to an annualized dividend yield of 4.5% despite a high dividend payout ratio of 104.53%.

Allianz Asset Management GmbH lessened its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 9.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 409,580 shares of the real estate investment trust's stock after selling 41,260 shares during the quarter. Allianz Asset Management GmbH owned about 0.11% of Equity Residential worth $27,643,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EQR. Nuveen LLC bought a new position in Equity Residential during the first quarter worth about $165,442,000. Price T Rowe Associates Inc. MD boosted its position in Equity Residential by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,711,588 shares of the real estate investment trust's stock worth $1,482,537,000 after purchasing an additional 1,101,027 shares during the period. National Bank of Canada FI boosted its position in Equity Residential by 190.9% during the first quarter. National Bank of Canada FI now owns 674,373 shares of the real estate investment trust's stock worth $48,272,000 after purchasing an additional 442,584 shares during the period. Eventide Asset Management LLC bought a new position in Equity Residential during the first quarter worth about $27,944,000. Finally, JPMorgan Chase & Co. boosted its position in Equity Residential by 8.3% during the first quarter. JPMorgan Chase & Co. now owns 4,560,478 shares of the real estate investment trust's stock worth $326,439,000 after purchasing an additional 350,095 shares during the period. Institutional investors own 92.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on EQR shares. BNP Paribas Exane lowered shares of Equity Residential from an "outperform" rating to a "neutral" rating in a research report on Monday, September 29th. Morgan Stanley cut their price objective on shares of Equity Residential from $76.50 to $75.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 13th. Truist Financial cut their price objective on shares of Equity Residential from $78.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, August 29th. Barclays cut their price objective on shares of Equity Residential from $81.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, September 30th. Finally, Cantor Fitzgerald started coverage on shares of Equity Residential in a research report on Wednesday, October 1st. They issued an "overweight" rating and a $70.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, Equity Residential has a consensus rating of "Hold" and an average target price of $73.57.

Equity Residential Trading Up 1.2%

Shares of Equity Residential stock opened at $62.24 on Friday. Equity Residential has a 1 year low of $59.41 and a 1 year high of $78.32. The firm has a market cap of $23.77 billion, a PE ratio of 23.48, a PEG ratio of 3.16 and a beta of 0.90. 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 company has a 50 day simple moving average of $64.26 and a two-hundred day simple moving average of $66.52.

Equity Residential (NYSE:EQR - Get Free Report) last announced its earnings results on Monday, August 4th. The real estate investment trust reported $0.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.99. Equity Residential had a net margin of 33.22% and a return on equity of 9.05%. The business had revenue of $768.83 million during the quarter, compared to analyst estimates of $770.60 million. During the same period in the previous year, the business posted $0.97 earnings per share. Equity Residential's revenue for the quarter 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. Analysts expect that Equity Residential will post 3.98 earnings per share for the current fiscal year.

Equity Residential Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Thursday, September 25th were paid a dividend of $0.6925 per share. The ex-dividend date of this dividend was Thursday, September 25th. This represents a $2.77 annualized dividend and a dividend yield of 4.5%. Equity Residential's dividend payout ratio (DPR) is 104.53%.

Equity Residential 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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