Equity Residential (NYSE:EQR) Stock Holdings Reduced by Bessemer Group Inc.

Bessemer Group Inc. cut its position in shares of Equity Residential (NYSE:EQR - Free Report) by 63.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,493 shares of the real estate investment trust's stock after selling 28,734 shares during the quarter. Bessemer Group Inc.'s holdings in Equity Residential were worth $1,181,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Equity Residential by 119.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 483,753 shares of the real estate investment trust's stock worth $34,714,000 after purchasing an additional 263,622 shares in the last quarter. Mission Wealth Management LP purchased a new stake in Equity Residential during the fourth quarter worth approximately $321,000. Keybank National Association OH increased its position in shares of Equity Residential by 2.0% in the fourth quarter. Keybank National Association OH now owns 7,001 shares of the real estate investment trust's stock worth $502,000 after acquiring an additional 139 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Equity Residential by 3.3% in the 4th quarter. JPMorgan Chase & Co. now owns 4,210,383 shares of the real estate investment trust's stock valued at $302,137,000 after acquiring an additional 136,275 shares during the period. Finally, Starwood Capital Group Management L.L.C. lifted its holdings in shares of Equity Residential by 26.2% during the 4th quarter. Starwood Capital Group Management L.L.C. now owns 339,338 shares of the real estate investment trust's stock valued at $24,351,000 after acquiring an additional 70,500 shares in the last quarter. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential Stock Performance

Shares of NYSE:EQR traded down $0.36 on Thursday, reaching $66.31. 1,362,183 shares of the company's stock were exchanged, compared to its average volume of 1,753,223. The business's 50-day moving average is $69.21 and its two-hundred day moving average is $69.70. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.70. Equity Residential has a fifty-two week low of $59.41 and a fifty-two week high of $78.84. The firm has a market capitalization of $25.19 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 3.93 and a beta of 0.88.

Equity Residential (NYSE:EQR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.02. The firm had revenue of $760.81 million for the quarter, compared to analyst estimates of $769.43 million. Equity Residential had a net margin of 33.11% and a return on equity of 8.93%. Equity Residential's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. As a group, equities research analysts forecast that Equity Residential will post 3.98 EPS for the current year.

Equity Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, June 24th will be paid a $0.6925 dividend. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.77 annualized dividend and a dividend yield of 4.18%. Equity Residential's dividend payout ratio is currently 105.73%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wedbush reiterated a "neutral" rating and issued a $75.00 price target on shares of Equity Residential in a report on Wednesday, May 28th. Mizuho lowered their target price on Equity Residential from $76.00 to $71.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Scotiabank dropped their target price on Equity Residential from $82.00 to $78.00 and set a "sector perform" rating on the stock in a report on Friday, June 13th. Barclays upped their price target on Equity Residential from $79.00 to $83.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Truist Financial lifted their price objective on shares of Equity Residential from $76.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $79.25.

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.