Equity Residential $EQR Shares Sold by Carronade Capital Management LP

Key Points

• Carronade Capital Management cut its Equity Residential position by 21.3% in the first quarter, selling 33,316 shares and retaining 123,062 shares valued at approximately $7.3 million.
• Despite Carronade’s reduction, institutional investors and hedge funds own 92.68% of EQR, with several major firms significantly increasing their stakes.
• Analysts maintain a consensus “Hold” rating with a $71.40 average price target. Equity Residential also pays a $0.7025 quarterly dividend, equivalent to a 4.1% annualized yield.

Carronade Capital Management LP decreased its position in Equity Residential (NYSE:EQR - Free Report) by 21.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 123,062 shares of the real estate investment trust's stock after selling 33,316 shares during the period. Equity Residential comprises 0.1% of Carronade Capital Management LP's portfolio, making the stock its 17th largest holding. Carronade Capital Management LP's holdings in Equity Residential were worth $7,279,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in EQR. Norges Bank purchased a new position in Equity Residential during the fourth quarter worth about $2,201,674,000. Cohen & Steers Inc. increased its position in Equity Residential by 227.7% during the 4th quarter. Cohen & Steers Inc. now owns 7,405,502 shares of the real estate investment trust's stock worth $466,869,000 after purchasing an additional 5,145,442 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Equity Residential by 876.0% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,500,885 shares of the real estate investment trust's stock worth $291,342,000 after purchasing an additional 4,039,752 shares during the period. Wellington Management Group LLP raised its stake in shares of Equity Residential by 797.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,085,406 shares of the real estate investment trust's stock worth $134,988,000 after buying an additional 1,852,970 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its stake in shares of Equity Residential by 353.5% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,002,892 shares of the real estate investment trust's stock worth $129,647,000 after buying an additional 1,561,241 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. BNP Paribas Exane lifted their price target on Equity Residential from $68.00 to $70.00 and gave the company a "neutral" rating in a research note on Monday, May 18th. Jefferies Financial Group raised Equity Residential to a "hold" rating in a report on Wednesday, July 22nd. Royal Bank Of Canada lowered shares of Equity Residential from an "outperform" rating to a "sector perform" rating and boosted their target price for the stock from $69.00 to $70.00 in a research report on Monday, June 8th. UBS Group upped their price target on shares of Equity Residential from $71.00 to $73.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $72.00 price target on shares of Equity Residential in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $71.40.

Equity Residential Stock Up 0.0%

Equity Residential stock opened at $67.87 on Monday. Equity Residential has a fifty-two week low of $57.57 and a fifty-two week high of $71.50. The firm has a market capitalization of $25.45 billion, a price-to-earnings ratio of 29.51, a price-to-earnings-growth ratio of 5.40 and a beta of 0.74. The stock's fifty day moving average is $67.31 and its two-hundred day moving average is $63.96. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.18 and a current ratio of 0.19.

Equity Residential (NYSE:EQR - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.09). Equity Residential had a return on equity of 8.06% and a net margin of 27.97%.The firm had revenue of $779.85 million for the quarter, compared to analyst estimates of $781.79 million. During the same period last year, the firm earned $0.95 EPS. The company's quarterly revenue was up 2.5% compared to the same quarter last year. 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. Analysts predict that Equity Residential will post 4.08 EPS for the current fiscal year.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 29th were given a dividend of $0.7025 per share. The ex-dividend date was Monday, June 29th. This represents a $2.81 dividend on an annualized basis and a yield of 4.1%. Equity Residential's payout ratio is presently 122.17%.

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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