Equity Residential $EQR Stock Position Raised by Amundi

Key Points

• Amundi increased its Equity Residential stake by 43.9% in the first quarter, purchasing 465,368 additional shares and bringing its holdings to 1.52 million shares valued at approximately $90.2 million.
• Analysts remain mixed but generally cautious: Equity Residential has a consensus “Hold” rating and an average price target of $71.40, compared with a recent share price of $66.60.
• The REIT pays a quarterly dividend of $0.7025 per share, equivalent to an annualized $2.81 dividend and a 4.2% yield; institutional investors collectively own 92.68% of the company.

Amundi lifted its position in Equity Residential (NYSE:EQR - Free Report) by 43.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,524,676 shares of the real estate investment trust's stock after buying an additional 465,368 shares during the quarter. Amundi owned about 0.41% of Equity Residential worth $90,185,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Insigneo Advisory Services LLC increased its stake in shares of Equity Residential by 4.9% during the 4th quarter. Insigneo Advisory Services LLC now owns 3,543 shares of the real estate investment trust's stock worth $223,000 after purchasing an additional 165 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Equity Residential by 0.3% in the 1st quarter. Cetera Investment Advisers now owns 61,177 shares of the real estate investment trust's stock valued at $3,619,000 after purchasing an additional 171 shares during the last quarter. Leonteq Securities AG boosted 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 worth $32,000 after purchasing an additional 180 shares in the last quarter. Frank Rimerman Advisors LLC boosted its holdings in 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 purchasing an additional 201 shares in the last quarter. Finally, Empowered Funds LLC increased its position in Equity Residential by 2.3% during the fourth quarter. Empowered Funds LLC now owns 9,165 shares of the real estate investment trust's stock worth $571,000 after buying an additional 204 shares during the last quarter. Institutional investors and hedge funds own 92.68% of the company's stock.

Wall Street Analyst Weigh In

EQR has been the topic of several recent research reports. Barclays restated an "equal weight" rating and set a $76.00 target price on shares of Equity Residential in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $72.00 price target on shares of Equity Residential in a research note on Monday, July 20th. BNP Paribas Exane raised their price objective on Equity Residential from $68.00 to $70.00 and gave the company a "neutral" rating in a research note on Monday, May 18th. Bank of America raised Equity Residential from a "neutral" rating to a "buy" rating and set a $76.00 price objective on the stock in a research note on Wednesday, May 27th. Finally, Wall Street Zen cut Equity Residential from a "hold" rating to a "sell" rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $71.40.

Equity Residential Trading Down 0.8%

Shares of NYSE:EQR opened at $66.60 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.18 and a current ratio of 0.19. The stock's 50-day moving average is $67.49 and its 200-day moving average is $64.14. The company has a market cap of $24.97 billion, a P/E ratio of 28.96, a P/E/G ratio of 5.28 and a beta of 0.74. Equity Residential has a 52-week low of $57.57 and a 52-week high of $71.50.

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 29th were issued 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 dividend yield of 4.2%. Equity Residential's payout ratio is 122.17%.

About Equity Residential

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source