Coronation Fund Managers Ltd. Trims Stake in Equity Residential $EQR

Key Points

• Coronation Fund Managers Ltd. reduced its stake in Equity Residential by 12.7%, now holding 95,478 shares worth $6,444,000 after the sale of 13,898 shares in the 2nd quarter.
• Analysts are cautious on Equity Residential, with BNP Paribas downgrading the stock from "outperform" to "hold," while Wells Fargo lowered its price target from $75 to $68.
• Equity Residential recently announced a quarterly dividend of $0.6925 per share, yielding 4.4%, despite having a high dividend payout ratio of 104.53%.

Coronation Fund Managers Ltd. trimmed its stake in Equity Residential (NYSE:EQR - Free Report) by 12.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,478 shares of the real estate investment trust's stock after selling 13,898 shares during the period. Coronation Fund Managers Ltd.'s holdings in Equity Residential were worth $6,444,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GKV Capital Management Co. Inc. bought a new stake in Equity Residential during the first quarter valued at about $37,000. Keystone Global Partners LLC purchased a new position in shares of Equity Residential during the first quarter valued at about $47,000. Zions Bancorporation National Association UT purchased a new position in shares of Equity Residential during the first quarter valued at about $48,000. Beaird Harris Wealth Management LLC purchased a new position in shares of Equity Residential during the first quarter valued at about $56,000. Finally, Larson Financial Group LLC grew its position in Equity Residential by 215.4% in the first quarter. Larson Financial Group LLC now owns 817 shares of the real estate investment trust's stock worth $58,000 after acquiring an additional 558 shares in the last quarter. 92.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on EQR. BNP Paribas lowered Equity Residential from an "outperform" rating to a "hold" rating in a research report on Monday, September 29th. BNP Paribas Exane lowered Equity Residential from an "outperform" rating to a "neutral" rating in a research report on Monday, September 29th. Wells Fargo & Company dropped their price target on Equity Residential from $75.00 to $68.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. Morgan Stanley dropped their price target on 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. Finally, Cantor Fitzgerald began coverage on Equity Residential in a research report on Wednesday, October 1st. They issued an "overweight" rating and a $70.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Equity Residential presently has an average rating of "Hold" and a consensus target price of $73.57.

Equity Residential Stock Up 0.3%

Equity Residential stock opened at $62.37 on Tuesday. The business has a fifty day moving average of $64.26 and a two-hundred day moving average of $66.50. 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 firm has a market cap of $23.82 billion, a P/E ratio of 23.54, a P/E/G ratio of 3.16 and a beta of 0.90. Equity Residential has a twelve month low of $59.41 and a twelve month high of $78.32.

Equity Residential (NYSE:EQR - Get Free Report) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $0.99 earnings per share for the quarter, hitting analysts' consensus estimates of $0.99. The company had revenue of $768.83 million during the quarter, compared to analyst estimates of $770.60 million. Equity Residential had a return on equity of 9.05% and a net margin of 33.22%.Equity Residential's revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 earnings per share. Equity Residential has set its FY 2025 guidance at 3.970-4.030 EPS. Q3 2025 guidance at 0.990-1.030 EPS. On average, analysts forecast that Equity Residential will post 3.98 earnings per share for the current fiscal year.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Thursday, September 25th were given a dividend of $0.6925 per share. This represents a $2.77 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Thursday, September 25th. Equity Residential's dividend payout ratio is currently 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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