Alyeska Investment Group L.P. Purchases 55,140 Shares of Equity Residential $EQR

Key Points

• Alyeska Investment Group L.P. increased its stake in Equity Residential by 16.6%, acquiring an additional 55,140 shares, bringing its total ownership to 387,574 shares valued at $27.74 million.
• Several investment firms, including TCW Group Inc. and Mitsubishi UFJ Asset Management Co. Ltd., significantly increased their holdings in Equity Residential, highlighting strong institutional interest with 92.68% of shares owned by institutional investors.
• Equity Residential's latest quarterly earnings met expectations with an EPS of $0.99, while it announced a quarterly dividend of $0.6925 per share, resulting in an annualized yield of 4.2% despite having a high dividend payout ratio of 104.53%.

Alyeska Investment Group L.P. lifted its stake in shares of Equity Residential (NYSE:EQR - Free Report) by 16.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 387,574 shares of the real estate investment trust's stock after buying an additional 55,140 shares during the period. Alyeska Investment Group L.P. owned about 0.10% of Equity Residential worth $27,743,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Amundi boosted its position in shares of Equity Residential by 8.0% during the first quarter. Amundi now owns 691,036 shares of the real estate investment trust's stock valued at $47,371,000 after buying an additional 51,232 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Equity Residential by 345.4% during the first quarter. Adage Capital Partners GP L.L.C. now owns 386,933 shares of the real estate investment trust's stock valued at $27,697,000 after buying an additional 300,051 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its position in shares of Equity Residential by 150.3% during the first quarter. Federation des caisses Desjardins du Quebec now owns 22,093 shares of the real estate investment trust's stock valued at $1,581,000 after buying an additional 13,266 shares during the last quarter. Carronade Capital Management LP boosted its position in shares of Equity Residential by 19.2% during the first quarter. Carronade Capital Management LP now owns 137,485 shares of the real estate investment trust's stock valued at $9,841,000 after buying an additional 22,171 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Equity Residential in the first quarter worth $6,707,000. Hedge funds and other institutional investors own 92.68% of the company's stock.

Equity Residential Stock Performance

Equity Residential stock traded down $0.24 during mid-day trading on Wednesday, reaching $66.38. The company's stock had a trading volume of 382,760 shares, compared to its average volume of 1,926,481. Equity Residential has a 12-month low of $59.41 and a 12-month high of $78.83. The company has a market capitalization of $25.35 billion, a P/E ratio of 25.04, a PEG ratio of 3.37 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's fifty day moving average price is $65.45 and its two-hundred day moving average price is $67.98.

Equity Residential (NYSE:EQR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.99 earnings per share 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 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 earned $0.97 EPS. Equity Residential's revenue 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. Sell-side analysts predict that Equity Residential will post 3.98 EPS for the current fiscal year.

Equity Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors 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 dividend on an annualized basis and a yield of 4.2%. Equity Residential's dividend payout ratio is 104.53%.

Wall Street Analysts Forecast Growth

EQR has been the topic of several research analyst reports. Stifel Nicolaus set a $80.50 price objective on Equity Residential and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Wedbush reissued a "neutral" rating and issued a $75.00 price objective on shares of Equity Residential in a research report on Wednesday, May 28th. Morgan Stanley dropped their target price on shares of Equity Residential from $76.50 to $75.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 13th. Truist Financial dropped their target price on shares of Equity Residential from $78.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, August 29th. Finally, Evercore ISI dropped their target price on shares of Equity Residential from $72.00 to $71.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $76.46.

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.