Bank of New York Mellon Corp Lowers Holdings in Equity Residential $EQR

Key Points

• Bank of New York Mellon reduced its stake in Equity Residential by 2.8% in the first quarter, selling 58,052 shares and ending with 2,051,626 shares valued at about $121.4 million.
• Equity Residential reported mixed quarterly results, with earnings of $0.24 per share missing estimates and revenue of $779.85 million slightly below expectations, though revenue still rose 2.5% year over year.
• The stock pays a 4.1% dividend yield, but its payout ratio is high at 112.4%; meanwhile, Wall Street currently rates EQR a consensus “Hold” with a target price of $70.80.

Bank of New York Mellon Corp trimmed its stake in shares of Equity Residential (NYSE:EQR - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,051,626 shares of the real estate investment trust's stock after selling 58,052 shares during the period. Bank of New York Mellon Corp owned about 0.55% of Equity Residential worth $121,354,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Insigneo Advisory Services LLC lifted its stake in shares of Equity Residential by 4.9% in the 4th quarter. Insigneo Advisory Services LLC now owns 3,543 shares of the real estate investment trust's stock valued at $223,000 after purchasing an additional 165 shares during the period. Leonteq Securities AG increased its holdings in Equity Residential by 48.8% in the first quarter. Leonteq Securities AG now owns 549 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 180 shares in the last quarter. Frank Rimerman Advisors LLC raised its position in shares of Equity Residential by 4.2% in the first quarter. Frank Rimerman Advisors LLC now owns 4,990 shares of the real estate investment trust's stock worth $295,000 after acquiring an additional 201 shares during the period. Empowered Funds LLC raised its position in shares of Equity Residential by 2.3% in the fourth quarter. Empowered Funds LLC now owns 9,165 shares of the real estate investment trust's stock worth $571,000 after acquiring an additional 204 shares during the period. Finally, United Capital Financial Advisors LLC boosted its stake in shares of Equity Residential by 2.0% during the 3rd quarter. United Capital Financial Advisors LLC now owns 11,589 shares of the real estate investment trust's stock worth $750,000 after acquiring an additional 227 shares in the last quarter. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential Stock Performance

NYSE EQR opened at $68.99 on Monday. The company has a market cap of $25.86 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 5.48 and a beta of 0.74. The stock's 50 day simple moving average is $67.02 and its 200-day simple moving average is $63.75. Equity Residential has a 1-year low of $57.57 and a 1-year high of $71.50. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.18 and a quick ratio of 0.18.

Equity Residential (NYSE:EQR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.24 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.09). The firm had revenue of $779.85 million for the quarter, compared to analysts' expectations of $781.79 million. Equity Residential had a return on equity of 8.57% and a net margin of 30.63%.The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 earnings per share. Equity Residential has set its FY 2026 guidance at 4.020-4.140 EPS and its Q2 2026 guidance at 0.980-1.020 EPS. As a group, equities research analysts anticipate that Equity Residential will post 4.09 EPS for the current fiscal year.

Equity Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 29th were paid a dividend of $0.7025 per share. This represents a $2.81 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, June 29th. Equity Residential's dividend payout ratio is currently 112.40%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on EQR shares. JPMorgan Chase & Co. raised their target price on Equity Residential from $71.00 to $72.00 and gave the company a "neutral" rating in a research report on Tuesday, May 5th. Wolfe Research upgraded Equity Residential from a "hold" rating to an "outperform" rating in a research report on Monday, June 1st. Barclays reissued an "equal weight" rating and issued a $76.00 price objective on shares of Equity Residential in a report on Tuesday, July 14th. Jefferies Financial Group upgraded Equity Residential to a "hold" rating in a research report on Friday, June 26th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $72.00 target price (down from $78.00) on shares of Equity Residential in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $70.80.

Equity Residential Profile

Equity Residential NYSE: EQR is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.

The company's core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.

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