Cubist Systematic Strategies LLC Takes $6.71 Million Position in Equity Residential $EQR

Key Points

• Cubist Systematic Strategies LLC has acquired a new stake in Equity Residential, purchasing 93,693 shares valued at approximately $6.7 million in the first quarter.
• Equity Residential reported an EPS of $0.99 for the latest quarter, meeting analysts' expectations, and had $768.83 million in revenue, which was slightly below expectations.
• The company announced a quarterly dividend of $0.6925, translating to an annualized payout of $2.77 and a dividend yield of 4.3%.

Cubist Systematic Strategies LLC bought a new stake in Equity Residential (NYSE:EQR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 93,693 shares of the real estate investment trust's stock, valued at approximately $6,707,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc raised its position in shares of Equity Residential by 51.6% during the 1st quarter. Versant Capital Management Inc now owns 461 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 157 shares in the last quarter. GKV Capital Management Co. Inc. bought a new position in Equity Residential during the 1st quarter worth $37,000. Keystone Global Partners LLC bought a new position in Equity Residential during the 1st quarter worth $47,000. Zions Bancorporation National Association UT bought a new position in Equity Residential during the 1st quarter worth $48,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Equity Residential by 27.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 740 shares of the real estate investment trust's stock worth $53,000 after buying an additional 160 shares during the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Trading Down 0.9%

NYSE:EQR traded down $0.60 on Monday, hitting $66.21. The stock had a trading volume of 261,287 shares, compared to its average volume of 1,927,505. 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 stock has a market cap of $25.29 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 3.39 and a beta of 0.93. The company has a fifty day moving average price of $65.48 and a two-hundred day moving average price of $68.03. Equity Residential has a 1-year low of $59.41 and a 1-year high of $78.83.

Equity Residential (NYSE:EQR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.99 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $770.60 million. During the same period in the previous year, the firm earned $0.97 EPS. The business's revenue 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. Equities research analysts expect that Equity Residential will post 3.98 earnings per share for the current fiscal year.

Equity Residential Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, June 24th were issued a $0.6925 dividend. The ex-dividend date was Tuesday, June 24th. This represents a $2.77 annualized dividend and a dividend yield of 4.2%. Equity Residential's dividend payout ratio is presently 104.53%.

Analysts Set New Price Targets

EQR has been the subject of several recent analyst reports. Wall Street Zen raised Equity Residential from a "sell" rating to a "hold" rating in a research note on Friday. UBS Group decreased their price target on Equity Residential from $84.00 to $76.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. Scotiabank decreased their price target on Equity Residential from $78.00 to $77.00 and set a "sector perform" rating for the company in a research note on Thursday, August 14th. Mizuho decreased their price target 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. Finally, Stifel Nicolaus set a $80.50 price target on Equity Residential and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Equity Residential presently has an average rating of "Moderate Buy" and a consensus target price of $76.90.

About Equity Residential

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.